CGX Appoints Exec VP, Exploration and General Manager

TORONTO, ONTARIO -- (Marketwire - Oct. 20, 2011) - CGX Energy Inc. (TSX VENTURE: OYL) ("CGX" or the "Company") announces the appointment of Dewi Jones as Executive Vice President, Exploration and General Manager. Dewi Jones is an upstream exploration and development professional with 25 years of technical and hands-on managerial experience focused on Latin America. Since 2004, he has worked for Repsol YPF ("Repsol") in Latin America and was intimately involved in the Georgetown Block as Exploration Manager with respect to the Trinidad, Guyana and Caribbean regions between 2005 and 2008, during which time he was responsible for exploration activities in the Guyana-Suriname Basin (including the acquisition of 2D/3D seismic surveys and drilling programs undertaken by Repsol as operator) and the contractual negotiations with the Government of Guyana in respect of the Georgetown Block.

Dewi Jones stated, "CGX has an exciting exploration program planned. I'm looking forward to working with the CGX team and to renewing my Guyana relationships."

Warren Workman stated, "It has been very gratifying to have played an important role in bringing our exploration projects to fruition and I'm looking forward to generating additional exploration prospects in Guyana's emerging frontier basin. I have full confidence in Dewi's capabilities and look forward to working closely with him going forward."

Warren Workman will be focusing his efforts on advancing exploration prospects on behalf of the Company.

Steve Hermeston, President and CEO commented, "We are very pleased that Dewi Jones will be joining the CGX team. His extensive experience in Latin America and established relationships in Guyana will be extremely beneficial to CGX as we move forward with our drilling program."

Dewi Jones has been granted 500,000 options exercisable at $0.70 until October 20, 2016 with 100,000 of these options vesting immediately and the balance vesting October 20, 2012.


CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, the United States and the United Kingdom.

Trading Symbol                   OYL
Shares Outstanding       326,223,663
Fully Diluted            341,673,663

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Contact Information

CGX Energy Inc.
Kerry Sully, Chairman
(604) 733-9647
ksully@cgxenergy.com

CGX Energy Inc.
Stephen Hermeston, President and CEO
(281) 644-0139
shermeston@cgxenergy.com

CGX Energy Inc.
Charlotte May, Communications Manager
(416) 364-3353
cmay@cgxenergy.com
www.cgxenergy.com