CGX Announces Management Additions and Changes

TORONTO, ONTARIO -- (Marketwire - Jan. 3, 2012) - CGX Energy Inc. (TSX VENTURE: OYL) ("CGX" or the "Company") is pleased to announce that Nadia Heffernan has joined CGX as Vice President, Contracts and Negotiation. Nadia brings extensive oil and gas legal experience to CGX having held legal positions in land and contract negotiations with Hess Corporation, Anadarko Petroleum Corporation and Kerr-McGee Oil and Gas Corporation. Her experience has included contract negotiations in Africa, the Caribbean, Europe, the Middle East and South America. Nadia holds a Bachelor of Arts in International Relations from Boston University and she obtained her Juris Doctorate from the University of Oklahoma. She is a member of the Texas Bar Association, the Association of International Petroleum Negotiators and the Houston Association of Professional Landmen.

The Company also announces that Tralisa Maraj, who joined CGX in September as Controller and Chief Accounting Officer has assumed the role of Chief Financial Officer and Charlotte May is increasing her role with CGX to include Corporate Secretary. James Fairbairn who has been an integral member of the CGX team since the Company's inception, will be assuming the position of Director, Corporate Affairs to focus on the Company's active involvement in Guyana.

Stephen Hermeston, President and CEO stated, "We are very pleased that Nadia has joined CGX. Her extensive experience in contract negotiations will be extremely helpful in progressing our forward plans. We are also very pleased that Jim Fairbairn has agreed to take on the very important role of Director, Corporate Affairs for CGX and that Tralisa will be assuming the role of CFO and Charlotte, who has been with CGX since 2003, is increasing her role to include Corporate Secretary. CGX has a very busy 2012 planned and the addition of these key roles strengthens the team that is in place to execute our drilling plans across our acreage."

Nadia Hefferman has been granted 300,000 options, Tralisa Maraj has been granted an additional 200,000 options, and Charlotte May has been granted an additional 250,000 options. The options are exercisable at $1.05 until January 3, 2017 with 390,000 options vesting immediately and the balance of 560,000 options vesting January 3, 2013.


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 Guyana, Canada, the United States and the United Kingdom.

Shares Outstanding          326,223,663
Fully Diluted               343,948,663

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Contact Information

CGX Energy Inc.
Kerry Sully, Executive 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