CGX Grants 2,200,000 Options

TORONTO, ONTARIO, Oct 19, 2010 (MARKETWIRE via COMTEX) -- CGX Energy Inc. /quotes/comstock/11v!e:oyl (CA:OYL 1.07, -0.04, -3.60%) announces that it has granted, pursuant to its stock option plan, to directors, management and consultants of the Company an aggregate of 2,200,000 stock options. Each such stock option entitles the holder to purchase one common share of the Company at a price of $1.11 until October 19, 2015.

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.