CGX releases Guyana report

CGX Energy Inc. has released the results of a Gustavson Associates LLC. study of four of CGX's prospects in the Corentyne license offshore Guyana.

Offshore staff

TORONTO, Ontario –CGX Energy Inc. has released the results of a Gustavson Associates LLC. study of four of CGX's prospects in the Corentyne license offshore Guyana.

According to Gustavson, the P50 reserves estimate for the four prospects, developed using probabilistic analysis, totals 2.7 Bbbl. Historic well data, regional geology, and 2D seismic were reviewed by Gustavson to prepare the estimate.

The study covered the 9,170 sq km (3,541 sq mi) offshore portion of the Corentyne PLL. CGX holds 100% of the working interest. The four prospects are called Eagle Shallow Fan, Wishbone Shallow Fan, Eagle Deep West, and Eagle Deep East.

01/07/2008

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