OYL.U Cgx Energy (Tier2)

CGX Energy Inc. (TSX VENTURE:OYL.U) announces that the Guyana Chronicle reported
on Saturday, August 25th that the UN Tribunal decision is imminent. Following is
an excerpt from the report:


"The United Nations International Tribunal on the Law of the Sea based in
Hamburg is expected to pronounce on the Guyana/Suriname border dispute "anytime
now", Foreign Minister Dr. Rudy Insanally indicated yesterday.


It was anticipated that the long-awaited and much-anticipated decision would
have been given during the first quarter or thereabout of this year, but due to
some practical procedural matters which had to be finalised, there has been some
delay in bringing conclusion to the matter.


When contacted yesterday for a comment on the issue, Mr. Insanally urged that
caution and patience be exercised, noting that the decision and its announcement
lies solely in the hands of the UN Tribunal on the Law of the Sea.


The Guyanese Foreign Minister, however, disclosed that from all indications, "a
decision is imminent".


Also on August 25th, Caribbean Net News reported:

Paramaribo, Suriname: The ruling on the maritime border dispute between Suriname
and Guyana is expected in September, the Arbitral Tribunal that is handling the
matter indicated Thursday.


"The secretary of the tribunal informed the Surinamese government Thursday
morning on the issue", said Hans Lim A Po, Suriname's co-agent in this case.


The full text of these articles is available on the CGX Energy website in the
News section.


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.


THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE
RESPONSIBILITY AS TO ITS ACCURACY.


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