CGX Grants 2,500,000 Options

* Reuters is not responsible for the content in this press release.

Mon Jun 1, 2009 5:01pm EDT 

  TORONTO, ONTARIO, Jun 01 (MARKET WIRE) -- 
CGX Energy Inc. (TSX VENTURE: OYL) announces that it has granted,
pursuant to its stock option plan, to directors, management and
consultants of the Company an aggregate of 2,500,000 stock options. Each
such stock option entitles the holder to purchase one common share of the
Company at a price of $1.36 until June 1, 2014.

    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.

    Shares Outstanding: 126,144,913

    Fully-Diluted: 137,399,913


 
 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.

Contacts:
CGX Energy Inc.
Kerry Sully
President & CEO
(604) 733-9647
ksully@cgxenergy.com

CGX Energy Inc.
Denis Clement
Director
(416) 364-1909
dclement@cgxenergy.com

CGX Energy Inc.
Charlotte May
Investor Relations
(416) 364-3353
cmay@cgxenergy.com

Copyright 2009, Market Wire, All rights reserved.

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