December 11, 2003
CGX receives positive results of Berbice Geochemical Survey

Toronto, Ontario - CGX Energy Inc. (OYL.U - TSX-V) is pleased to announce that the initial microbial geochemical results of the first half of the samples have been received, and the results are positive. A number of significant sized areas with seepage readings well above background have been identified.

During October 2003, 8,000 soil samples were taken in the Berbice onshore block in Guyana. At the GeoMicrobial Technologies (GMT) laboratory in Oklahoma, 4,000 samples have now been analyzed for microbes that flourish in the presence of hydrocarbon microseepage.

“We are very encouraged by the initial results”, stated Warren Workman, Vice President of Exploration.  “As a result of the favourable sampling, additional infill samples on the large seepage areas will be analyzed.  Sorbed gas analysis will also be performed on targeted areas.  The sorbed gas analysis will assist in fingerprinting the hydrocarbons in the areas with elevated microbial concentrations.”

“Our preliminary exploration is proceeding well and we look forward to an accelerated exploration program early in the new year,” said Kerry Sully, President & CEO. “The analogies in the basin are the Tambaredjo and Calcutta oilfields onshore Suriname. Tambaredjo is estimated to have 167 million barrels recoverable, and Calcutta, 15 million barrels recoverable.

The 800,000 acre Berbice block is held by ON Energy Inc., a Guyanese registered company, currently held 100% by CGX. ON has filed a prospectus to raise up to US$750,000 in Guyana, which if closed for the full amount would decrease CGX’s share to 80%. Subject to regulatory approval in Guyana, the closing will be extended to December 19, 2003, and is subject to raising a minimum of US$500,000.

CGX Energy Inc. (TSX-V- OYL.U) is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana basin and is actively looking at other international opportunities. 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 over 5,000 shareholders worldwide.

Additional information on CGX Energy may also be examined and/or obtained through the internet by accessing CGX Energy’s website at www.cgxenergy.com or by accessing CGX Energy’s public disclosure documents through the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For further information please contact Kerry Sully, President & CEO at (604) 733-9647 or Denis Clement at (416) 364-5569.

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.