Jones’ resignation takes effect on September

30 the company said in a press statement Thursday.

In announcing his exit, Jones “wished CGX

and the great country of Guyana much success in the exploration of the hydrocarbon resources of the Guyana Basin,” the company release said.

The release quoted Kerry Sully, President and CEO of the energy firm observing: “Dewi Jones joined CGX in October 2011. His extensive experience in the Guyana – Suriname Basin, plus his relationships in Guyana were very beneficial to CGX during our recent drilling program”.

“We wish him well in his future endeavours,” the release said.

CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area in which the United States Geological Survey estimated a Pmean oil resource potential of 13.6 billion barrels in their Assessment of Undiscovered Conventional Oil and Gas Resources of South America and the Caribbean, 2012.

CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

Format

Executive Vice President and General Manager of the oil company CGX Inc., Mr Dewi Jones has resigned.
Jones’ resignation takes effect on September 30 the company said in a press statement Thursday.
In announcing his exit, Jones “wished CGX and the great country of Guyana much success in the exploration of the hydrocarbon resources of the Guyana Basin,” the company release said.
The release quoted Kerry Sully, President and CEO of the energy firm observing: “Dewi Jones buy cialis online joined CGX in October 2011. His extensive experience in the Guyana – Suriname Basin, plus his relationships in Guyana were very beneficial to CGX during our recent drilling program”.
“We wish him well in his future endeavours,” the release said.
CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area in which the United States Geological Survey estimated a Pmean oil resource potential of 13.6 billion barrels in their Assessment of Undiscovered Conventional Oil and Gas Resources of South America and the Caribbean, 2012.
CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

Path:

T

he Ministry said in a press release today that this move is part of the government’s drive to provide mining properties to small and medium scale Guyanese miners.

“The lottery is part of several efforts being undertaken by the government to support small miners and to ensure they have an generic viagra opportunity to access land for mining. Minister of Natural Resources and the Environment, Hon. Robert Persaud had earlier stated that calls were made by small miners for access to more lands for mining and it is anticipated that the lottery will provide a favourable opportunity for miners that are interested,” the statement said.

The lottery will be held simultaneously in the various districts on Wednesday, October 03, 2012 at Kwakwani, Mahdia, Bartica, Port Kaituma and Lethem.

The participation in the lottery for Special Mining Permits in the Berbice Mining District is restricted to bona fide residents of Region 10 only. In addition, residents of Region 10 will also benefit from a special exemption as part of the general requirements for participation. This is part of government’s commitment to expand Region 10’s economic activities for social and economic improvement, the ministry said.

Further, in an effort to sensitize interested persons, Field Staff of the GGMC will host the following meetings, in anticipation of the lottery for the Special Mining Permits on October 03, 2012, to provide technical support and guidance to potential applicants:

DATE VENUE

TIME

2012-09-21 Linden Enterprise Network (in front) 10:00 hrs.

2012-09-25 GFC Building, Kwakwani

10:00 hrs.

2012-09-27 Port Kaituma Community Centre 10:00 hrs.

2012-09-27 Bartica Market Square 10:00 hrs.

The Commission is also inviting interested participants to consult with the relevant maps which are on display at the GGMC Head Office and Mining Stations and initiate the require application process.

Meanwhile, to assist New Entrants within the Mining Sector, the Ministry of Natural Resources and the Environment and the Guyana Gold and Diamond Miners Association will host a New Entrants Seminar to provide support to potential miners on how to acquire mineral properties, trade transactions for gold and diamonds and the administrative and environmental requirements for sustainable mine management. The seminar will be held at the Sleeping International Hotel on Friday, September 28, 2012 commencing at 08:30 hrs.

ro.

Public Prosecutor Renato Machado also charged two employees of Petrobras in a statement released yesterday.

The spill

occurred in June 2011.

“The Reduc (refinery) acted with complete negligence. They knew since 2007 at least that the treatment stations were obsolete and not functioning adequately and they did nothing,” Machado said.

The prosecutor did not mention a

fine or compensation value sought.

Local courts are considering charges against US oil company Chevron and driller Transocean that could carry fines of up to $20 billion and possible

jail time for foreign executives in relation to a spill last November off the coast of Brazil. (Reuters)

of RUSAL, Russia’s aluminium giant, signed a multi-million US dollar investment deal last Tuesday for a 20 year Mining Licence for the Block 38 depo

sit in Region 10.

Minister of Natural Resources and the Environment, Robert Persaud, Permanent Secretary, Joslyn Mc Kenzie, Chairman of the Board of Directors GGMC, Eton Chester, Commissioner of GGMC, Karen Livan, Deputy Commissioner, Mr. Rickford Vieira and BCGI’s Finance Manager, Mr. Laziz Mardonov along with other officials witnessed the signing of the Licence.

In a press release on Monday, the Ministry said the Prospecting Licence covers a total area of approximately 12,711 acres and is located approximately 69 kilometers south-southeast of Linden and 27.4 kilometers north-northeast of Ituni along the Linden-Ituni Road on the East Bank of the Demerara River.

Exploration work carried out in 1976 by Guyana Mining Enterprise (GUYMINE) Limited (previously DEMBA) estimated that the total bauxite reserve was 110 million tons. The average ore grade is: Al2O3- 59.33, SiO2- 5.61. The thickness of the bauxite is 5.42 m and overburden to be removed is approximately 58.65.

The deposit consists of three main ore bodies, Bada, Aruima and Cocorite. BCGI initial confirmatory drilling was carried out in 2006 and the findings on individual ore deposits were as follows; Cocorite ore-body has an average bauxite thickness of 10.06 meters and 55.78 meters overburden, followed by Aruima with 7.01 and 57 and Bada with 8.84 and 80.5 respectively.

The signing of the agreement follows a meeting early last month between Minister Persaud and residents of Kwakwani and surrounding communities. At that meeting residents had called for more job opportunities

to be created. Minister Persaud has since engaged RUSAL’s executive and highlighted some of the concerns raised at the community meeting in Kwakwani that centred on the company’s relationship with the residents.

The company has given the assurance that it will undertake to look at ways through which it can improve its services in the community.

are being cleaned out on a large scale by dozens of Venezuelan and Guyanese boats while Suriname’s Navy cannot take effective action. It is unimaginable what these boats are carrying away, says Navy commander Marino A

cton.

Strengthening and expansion of the patrol fleet is needed, because the foreigners sometimes use illegal methods and equipment. The Navy can barely patrol the extensive area with just two seaworthy vessels. In addition, only some of the perpetrators are caught. In the past two

months, the Navy has confiscated six illegal fishing boats and arrested the crews, including a Venezuelan boat and a Guyanese last weekend.

Acton explains that the Venezuelan boats usually operate in groups of 12 to 15 in a certain area at the same time, particularly in deeper waters in a zone between 80 and 120 miles off the Surinamese coast in order to catch commercially very attractive tuna. While the Navy approaches one boat, the others flee. “We can’t pursue them, as our boats are not that fast and are not patrol boats,” Acton says. “We’ve started regular patrols and are currently in the area off the Coppename River,” commander Acton states.

Fishing boats are boarded to determine whether they have a licence and are in the right area. The boats are also inspected for the possible use of illegal nets and equipment.

Meanwhile, the illegal fishers caught last weekend have been deported after paying a fine, namely US$7,500 for the Venezuelans and US$ 15,000 for the Guyanese. Police spokesman John Jones points out that the Guyanese were charged a higher fine because they used cages, which are illegal internationally.

Acton says the fines do not compensate for the economic and environmental damage caused and the efforts by the army and police to patrol the marine territory.

He estimates that the Venezuela vessel is worth around US$87,000, and the catch such boats can carry may be worth US$ 40,000 sometimes, “so a fine of $7,000 does not mean much to them.”

And in some cases, the offenders even start fishing again once they have been released.

“We often wonder whether we should have made the effort to arrest them,” Acton sighs. (de Ware Tijd)

have threatened to stage a 24-hour nationwide strike on September 26

if their demands aren’t met.

The

Federal Oil Workers Union, known as FUP, rejected a 6.5% pay-raise offer made by Petrobras as part of an annual renegotiation of a collective labor agreement. The wage offer represents an increase of approximately 1% over the annual consumer inflation rate. However, FUP is pressing for a 10% pay increase, which would give its workers a “rise in real terms,” a spokeswoman for FUP said.

FUP on Thursday started to hold a series of members’ assemblies throughout Brazil at which around 80,000 Petrobras workers will determine if they will move forward with a proposal for the September 26 strike. The result of the assemblies will be known Monday, the spokeswoman said.

“The

strike will bother Petrobras but won’t really affect production as a minimum production level strategy will be maintained at the company’s installations,” the spokeswoman said.

Petrobras said Thursday that negotiations on the labor accord continue and the company expects to reach an agreement with the trade unions. (RIGZONE)

stakeholders to undertake exploration activities under its Petroleum Prospecting Licenses (PPL) in Guyana.

CGX President and CEO, Kerry Sully, stated, “CGX

is negotiating

agreements with third parties that may lead to farm-outs on one or more of the Company’s PPLs. Under one agreement, the Company will receive minimum non-refundable payments of $4 million in consideration of granting the third party an opportunity to receive and analyze seismic and well data.”

In press release the company said it is pleased to report

that, “Directions have been issued to the Guyana Geology and Mines Commission’s Petroleum Division to work with Repsol towards formalising arrangements to facilitate their seamless continuation in exploring the Georgetown Block. The current tenure for this section should expire in late November 2012.”

The partners to the Georgetown PPL include Repsol Exploración S.A. (15%), as operator, CGX Resources Inc. (25%), Tullow Oil plc (30%) and YPF Guyana Limited (30%). The Company also confirms that formal applications have been submitted to the Government of Guyana for the re-issuance of its operated offshore and onshore PPLs.

CGX Chairman, Suresh Narine, added, “The cooperation received from the Government of Guyana on both license re-issues and farm-outs has been of great assistance in advancing these initiatives.”

through the Guyana Mining School and Training Centre Inc.

A press release from the Ministry of Natural Resources and the Environment said the signing took place in the Boardroom of the High Commission of Canada in Georgetown and simultaneously in both Corner Brook and St. John’s, Newfoundland and Labrador, Canada.

Representing the Ministry of Natural Resources and the Environment was the Permanent Secretary, Mr. Joslyn McKenzie and representing the Guyana Geology and Mines Commission was the Commissioner, Mrs. Karen Livan. Signing on behalf of College of the North Atlantic was the President, Ms. Ann Marie Vaughan and for the Fisheries and Marine Institute of Memorial University of Newfoundland was the Vice President, Mr. Glen Blackwood.

High Commissioner of Canada David Devine noted that as Guyana continues on its path to development, Canada stands as a ready partner, especially in areas like the oil and gas sector. Canada has a tremendous resource base of experience and knowledge that we are willing to explore with Guyana. He stated that he is elated with the events today and hope that a fruitful partnership has been established.

Guyana’s Minister of Natural Resources and the Environment, Robert Persaud, expressed his appreciation to both institutions in the signing of the respective documents. He stated that since the inception of the Ministry, one of the main tasks through the GGMC has been to support human resources development in the extractive industries so that the people of Guyana can be better equipped with the knowledge of effective mining practices on a world-class level.

The Minister also noted that

the potential oil and gas sector will require personnel with specialised skills that are not currently readily available in Guyana and as such the Guyana Mining School and Training Centre Inc., with its partnership programmes will allow for Guyanese to be trained in the various field of oil and gas in the technical practices. Hence, improved training in the new fields of the extractive sectors will allow for better job opportunities for our local people.

Minister Persaud said Guyana is on a transformative path with the extractive industries and as such, “we must be able to channel our resources to the improved levels of education and training for all in these new and specific areas, so that in the long-run our young people and their children can enjoy the greater wealth that is in Guyana’s natural resources.”

The first, a letter of intent, was inked with College of the North Atlantic (CNA). The letter expresses CNA’s intention to explore education and training opportunities for the development and delivery of courses related to mining and oil and gas with educational institutions in Guyana. To facilitate this initiative, CNA has provided a list of training courses to the Guyanese government. Once priority training areas have been identified to meet immediate needs, a joint action plan will be developed for course implementation. Site visits have already been conducted in both Guyana and Newfoundland; however subsequent infrastructure assessments may be necessary for accurate course implementation.

CNA facilitates training, research and development, delivered to students and trainees through collaborative activities. CNA develops customized training options from a list of over 100 full-time diploma and certificate programs and a comprehensive range of 300 full- and part-time courses. It also builds entirely new programs tailored to fit the training requirements of its clients.

“CNA prides itself in our ability to be responsive to the needs of industry,” said Ann Marie Vaughan, CNA’s President and CEO. “This ability, combined with our long-standing relationship with the Marine Institute, will ensure that our new partners will receive a world-class curriculum to support development in their oil and gas and mining industries. This initiative is another example of the strength of Newfoundland and Labrador’s post-secondary education system and its commitment to sharing best practices and fostering new partnerships.”

The

second document signed was a memorandum of understanding with the Marine Institute of Memorial University of Newfoundland. This arrangement provides a framework for advancement of education, training and research and development in Guyana through collaboration between the Ministry of Natural Resources and the Environment and the Fisheries and Marine Institute of Memorial University of Newfoundland for the Guyana Geology and Mines Commission and the Guyana Mining School and Training Centre Inc.

“As an institute, we are proud to have helped build our offshore oil industry in Newfoundland and Labrador through our marine education, training and applied research programs. We are looking forward to sharing our experience and capability through this memorandum of understanding with the Government of Guyana to grow their capacity and work force in the natural resources sectors,” said Glenn Blackwood, Vice-President, Memorial University (Marine Institute).

Guyana will benefit from collaboration with the Fisheries and Marine Institute of Memorial University of Newfoundland in the following areas:

• Marine environment, safety training, ocean technology, offshore oil and gas, fisheries, coastal resources management, and distance delivery opportunities;
• Create opportunities by which Marine Institute personnel, facilities, and equipment may be used to support Guyana technical vocational education and training, post-secondary education and applied research;
• Explore opportunities for joint delivery of education and training programs in the oil and gas and mining sectors and to ensure such training meets with recognized standards;
• Explore opportunities for collaboration in the training of deck and engine room personnel;
• Develop opportunities for the design and delivery of short industry training courses;
• Foster closer relationships with local industry, including the oil and gas, marine transportation, ocean technology, and fisheries industries;
• Explore opportunities for expansion of collaborative arrangements within Guyana, the Caribbean region and internationally.

flour is expected to increase as the National Milling Company of Guyana (Namilco) moves to institute a 6% across-the-board increase in the price for the commodity, effective September 21, 2012.

In a press release Monday, Namilco said the increase was as a result of the increased price of grains, including wheat, made worse by severe drought in the USA and other parts of the world and the

international increasing demands for food.

Managing Director of Namilco, Bert Sukhai, said that prices had escalated in recent months but the company desisted from increasing the price of flour, expecting the hike to be temporary.

“However, we have been buying wheat at higher prices and can no

longer afford to hold prices steady,” Sukhai said.

The company’s last increase was in March 2011.

Discussions were held with the acting Minister of Tourism, Industry and Commerce and a 12% increase was requested. However, at his request, the release said, a 6% increase across the board was agreed to.

“Our flour still remains one of the cheapest in the Caribbean despite the high cost of power. We want to assure consumers that increases are taking place worldwide and we will monitor the situation with the expectation that wheat prices and consequently flour prices will decline in the future,” Namilco said.

TSX Venture Exchange has consented

to the reduction of the exercise price of previously issued warrants to purchase a total of 10,866,000 shares to $0.30 per share, and accordingly the exerci

se price of the Warrants will be reduced to $0.30 for the remainder of the existing two year term of the Warrants. Other than the reduction in the exercise price, all other Warrant provisions will remain the same.

As announced on September 11, 2012, the Warrants were originally issued on August 10, 2012.

Each Warrant entitles the holder to purchase one common share of the Company for a period of two years from the date of issuance at a price of $0.40 per share in the first year, and thereafter at a price of $0.50 in the second year. This is subject to an acceleration provision whereby in the event that the weighted average closing price of the Company’s shares on the Exchange equals or exceeds $0.75 during any 20 consecutive trading days commencing four (4) months after the date of issuance of the Warrants, then the Company may within 30 days of buy viagra no prescription such an occurrence give notice in writing to the holders of the Warrants.

The company will advise that the Warrants shall expire at 5:00 p.m. (Vancouver time) on the 20th business day following delivery of such notice unless exercised by the holders of the Warrants prior to such time.