CYGAM Energy Inc.
TSX VENTURE : CYG

CYGAM Energy Inc.

October 28, 2011 19:23 ET

CYGAM Energy Inc. Announces Management and Board Changes

CALGARY, ALBERTA--(Marketwire - Oct. 28, 2011) - CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM") announces that Gary Hyde, Chief Executive Officer and Chief Operating Officer and Brad Goldie, President and Vice-President of Business Development, have provided notice of their resignations effective November 30, 2011. Mr. Hyde has also resigned as a member of the Board of Directors effective October 26, 2011. CYGAM thanks Mr. Hyde and Mr. Goldie for their contributions to the company.

Giuseppe Rigo, Executive Chairman of the Board, will become interim President and CEO upon the departure of Mr. Hyde and Mr. Goldie.

In addition, Al Robertson, Chief Financial Officer, has indicated that he intends to continue in his role with the company as a consultant, rather than a full time member of management. Mr. Robertson will remain in his role as Chief Financial Officer for a transition period until new management is appointed with the company.

CYGAM is a Calgary-based exploration company with extensive international exploration permits and producing properties in Canada and Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 3.0 million gross acres. Visit the CYGAM website at www.cygamenergy.com for more information about CYGAM.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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