TSX-V | OYL

TORONTO, Dec. 7, 2012 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX" or the "Company") is pleased to announce that the board of directors has appointed Suresh Narine as Executive Chairman of CGX. Suresh Narine joined the board of CGX on January 3, 2012 and was appointed Chairman on May 4, 2012. With his involvement expanding beyond typical Chairman responsibilities, the board of directors has made the appointment to Executive Chairman effective immediately.

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.

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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