Unfortunatley ES was drilled to satisfy the work commitment of the Corentyne PPL and that was all CGX could afford, very poor planning when they had years to prepare and ED was the best prospect all along, if Tullow / Repsol can prove up the deep target at Jaguar that should put CGX in the game again as long as they can come up with the 20 Mil without giving away the farm.

The revised cost estimate for Eagle Deep has increased to US$90 to US$100

million from US$70 million due to additional costs in a “post-Macondo” environment. However the minimum, work

commitment can be fulfilled by drilling a shallow well to test the Eagle Eocene prospect to approximately 3,500

metres. The current cost estimate to drill the Eagle-1 well to 3,500 metres is US$40 million, an increase of US$6

million from 2010 cost estimates.