CGX Energy Says Onshore Seismic Acquisition Completed

CGX Energy reports that field acquisition of 182 km of 2-D seismic onshore Guyana has been successfully completed. The program was conducted over a 10 week period by CGX's 84.6% owned Guyanese subsidiary, ON Energy Inc. The data was acquired by Seis Pros Inc. of Houston, Texas on the 800,000 acre Berbice block to evaluate 22 leads covering 250 square kilometers that were identified in ON's recent geomicrobial survey. In addition, a 75-sample geochemical program has just been completed to supplement prior analysis. The seismic will be analyzed over the next two months to delineate high priority drilling targets. Drilling is planned for this fall.

The Management and Directors of CGX and ON would like to thank all the citizens of the region for their co-operation. In particular, the Regional Administration, the Guyana Police Service and the Guyana Geology and Mines Commission were very helpful in facilitating a safe and timely completion of the field operations. Our program was designed to have minimal surface impact. CGX and ON are very appreciative of the consideration and help from individual farmers, private land owners and Guysuco's Estate Management and Field Personnel. Under the direction of Seis Pro, over 250 local personnel and many service providers were involved in completing an efficient program. We thank them for their services and continued support.