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CGX Announces Change of Local Management

March 02, 2013

(TSX-V | OYL)

TORONTO, March 2, 2013 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX" or the "Company") announces that Dr. Edris K. Dookie is no longer an officer of any subsididary of CGX including the positions of Executive Vice President, CGX Resources Inc., a 100% owned subsidiary of CGX and President, ON Energy Inc., a 62% owned subsidiary of CGX.

Commenting on this change, Kerry Sully, President and CEO stated, "Dr. Dookie was the co-founder of CGX and has played an instrumental role with the Company since its inception in 1998.  He is a talented individual who we wish the best in his future endeavours."

About CGX Energy

CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area in which the United States Geological Survey estimated a Pmean oil resource potential of 13.6 billion barrels in their Assessment of Undiscovered Conventional Oil and Gas Resources of South America and the Caribbean, 2012. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

SOURCE: CGX Energy Inc.

Kerry Sully, President and CEO
(604) 733-9647 or ksully@cgxenergy.com

Charlotte May, Communications Manager
(416) 364-3353 or cmay@cgxenergy.com

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