Cygam Energy Inc.

Cygam Energy Inc.

May 13, 2011 14:41 ET

Cygam Energy Inc. Announces Management Appointments

CALGARY, ALBERTA--(Marketwire - May 13, 2011) - CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM" or the "Company") is pleased to announce the following corporate appointments:

As previously reported, effective April 29, 2011, Messrs Gary Hyde and Brad Goldie have assumed the positions of CEO and President, respectively.

Effective immediately, Mr. Alastair Robertson will assume the position of Chief Financial Officer.

Mr. Ali Rawji will step down from his position as Chief Financial Officer, but will remain an integral part of the CYGAM team through June 1, 2011, in order to coordinate and assist Mr. Robertson for a seamless transition.

Mr. Robertson is an experienced financial executive with a 30-year career in Canadian business, involved with the founding, growing, financing and managing of several Canadian private and public companies. Most recently he was President of Northlinks Corporation, a consulting firm specializing in early stage private and public companies. Prior to this, he was CFO and a Director of Ausam Energy Corporation, an SEC registered and TSX Venture Exchange listed company with operations in Australia and the USA. From 1982 to 1996 he had a 14-year career culminating as Senior Vice President and CFO of Nowsco Well Service Ltd., a TSX and NASDAQ listed international oilfield service company with operations in Canada, the USA, Europe, Russia, south east Asia and South America. While at Nowsco, Mr. Robertson gained extensive experience in the areas of business planning, financing, public markets, shareholder relations, tax planning and acquisitions. He is Chairman of both the Board and Audit Committees of Adeptron Technologies Inc, a TSX listed electronics manufacturer. He is also a former Director and Chairman of the audit committee of Artumas Group Inc, an Oslo listed public company involved in oil and gas and power generation, with operations in East Africa. Mr. Robertson is a member of the Institute of Chartered Accountants of Scotland.

In addition the Company announces that it intends to issue 1,250,000 stock options to a director and to an officer, subject to approval by the TSX Venture Exchange, exercisable at the closing price of the Company's common shares on the TSX-Venture Exchange on the day before issuance of the options. The options shall vest one-third immediately, one-third on the first anniversary of issuance, and one-third on the second anniversary of issuance.

Gary Hyde, CEO of CYGAM stated "We are very pleased to have Alastair join our new CYGAM team, with his financial and management experience in international operations and high growth of a company."

The Board of Directors wishes to express their sincere gratitude and appreciation to Mr. Rawji for his loyal and dedicated service to CYGAM, as well as his consummate professionalism and unflagging commitment to CYGAM's development over the last five years.

CYGAM is a Calgary-based exploration company with producing exploration properties in Canada and extensive international exploration permits. 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 six exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately over 3.0 million gross acres. Visit the CYGAM website at 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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