TORONTO, ONTARIO — (Marketwire) — 09/09/11 — CGX Energy Inc. (TSX VENTURE: OYL) (“CGX” or the “Company”) announces that trading in the Company–s shares was halted this morning following the reaction to an announcement by Tullow Oil plc of oil discoveries in their Zaedyus well offshore French Guiana. CGX does not have any interest in the Zaedyus well.
Kerry Sully, Chairman of CGX, stated, “CGX is a 25% partner with Tullow, Repsol and YPF in the Georgetown Petroleum Prospecting Licence offshore Guyana in which the partners are preparing to drill a Turonian test in the Jaguar well later this year. Investors are cautioned that Jaguar is located over 500 km from Zaedyus and the risk remains high.”
CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, U.S.A. and the UK. CGX is financed internationally and has thousands of shareholders worldwide.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
CGX Energy Inc.
Kerry Sully
Chairman
(604) 733-9647
CGX Energy Inc.
Stephen Hermeston
President and CEO
(281) 644-0139
CGX Energy Inc.
Charlotte May
Communications Manager
(416) 364-3353