CGX Announces Addition of VP Business Development

"We are very pleased that John Clarke has joined CGX Energy as a member of our executive team" said Kerry Sully, President & CEO. "We have reached a key transition point in CGX's history, having identified and enhanced a number of substantial exploration prospects offshore Guyana. We have acquired interests in five Petroleum Prospecting Licences (PPL) covering 9.6 million acres (7.2 million acres net). We have gathered and re-interpreted the historic data on those PPL's, participated in the first 2D solid-state seismic survey in the basin and initiated the first 3D seismic shot offshore Guyana. The processing of the 3D survey is nearing completion and the prospects are very encouraging. John's background and experience in the international energy sector ideally positions him to lead our business development strategy with respect to joint ventures and partnerships for exploration and development; leveraging our strengths to pursue new business opportunities and analyzing financing alternatives to maximize value for our shareholders."

CGX has granted, pursuant to its stock option plan, 500,000 stock options to Mr. Clarke. Each stock option will entitle Mr. Clarke to purchase one common share of the Company at a price of $1.10 until October 31, 2012.

CGX Energy Inc. (TSX VENTURE: OYL) is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana basin. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, USA and the UK. CGX is financed internationally and has shareholders worldwide.

Additional information on CGX Energy may also be examined and/or obtained through the internet by accessing CGX Energy's website at www.cgxenergy.com.

Shares Outstanding: 127,299,913

Fully-Diluted: 137,504,913

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