Ocean Saratoga En Route to Guyana-Suriname Basin

CGX announced that the Ocean Saratoga (mid-water semisub) departed the Gulf of Mexico on January 1st and is now under tow to the Guyana-Suriname Basin to drill the Company's Eagle-1 well. The Eagle-1 well will be drilled on the Company's 100% owned and operated Corentyne Petroleum Prospecting License, offshore Guyana. It is anticipated that the Ocean Saratoga will arrive on location around the end of January. CGX will make a further announcement when the Eagle-1 well has commenced drilling.

Stephen Hermeston, President and CEO stated, "We are pleased that the rig is now under tow and looking forward to the commencement of drilling."

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