September 7, 2006

CGX Extends Expiry Date of Warrants

Toronto, Ontario - CGX Energy Inc. (OYL.U - TSX-V) announces that the Company's outstanding common share purchase warrants, which entitle the holder to acquire one common share at a price of US$1.10 originally expiring on September 21, 2006, have been extended to March 21, 2007.

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana.  CGX is managed by a team of experienced oil and gas and finance professionals from Canada, U.S.A. and the UK. CGX is financed internationally and has thousands of shareholders worldwide.

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THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.