CGX Energy Inc.
TSX VENTURE : OYL

CGX Energy Inc.

June 28, 2011 08:00 ET

CGX Energy Appoints David Christian to Board of Directors

TORONTO, ONTARIO--(Marketwire - June 28, 2011) - CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that Mr. David Christian has been appointed to the Company's Board of Directors.

Mr. Christian has had an impressive 30-year career in the international E&P industry. He is a lawyer registered with the Texas and Oklahoma Bar Associations, providing strategic and operational consulting for domestic and international petroleum Companies. Until its takeover in 2006, he was the Vice President, Land and Negotiations for Kerr-McGee Oil & Gas Corporation. With the American Petroleum Institute, he has been a member of the Executive Committee for Exploration Access; with the American Association of Professional Landmen he has been a member of the Outer Continental Shelf Committee; and with the Association of International Petroleum Negotiators, a member of its Board of Directors. Mr. Christian graduated with a Bachelor of Science in Mechanical Engineering from the Arizona State University and a Juris Doctorate from the University of Tulsa.

"David's knowledge as a lawyer and experience as an officer of a major international oil and gas company will be invaluable in guiding our management team in our interactions with industry partners and our host government in Guyana. We look forward to his participation on our Board," stated Kerry Sully, Chairman of CGX.

"I am extremely pleased to join the Board of CGX. CGX has an exciting portfolio of oil and gas opportunities and I look forward to contributing to the success of the Company," said David.

The Company has granted, pursuant to its stock option plan to management and consultants of the Company, an aggregate of 200,000 stock options. Each such stock option is exercisable at a price of $0.63 until June 27, 2016.

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.

Shares Outstanding: 194,228,663

Fully-Diluted: 205,773,663

THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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