June 1, 2009
CGX Grants 2,500,000 Options

Toronto, Ontario - CGX Energy Inc. (OYL - TSX-V) 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 Inc. (TSX-V- OYL) is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana basin. 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 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. For further information, please contact: