TORONTO, ONTARIO -- (MARKET WIRE) -- 02/21/12

CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that effective market open today, the Company's common shares have been added to the Standard & Poor's TSX Venture 30 Index. This is in addition to CGX being selected by the TSX Venture Exchange as a 2012 TSX Venture 50 ® company, a ranking of strong performers on the TSX Venture Exchange. The TSX Venture 50 ® is comprised of ten companies from each of the following five sectors: mining, oil and gas, diversified industries, clean technology and technology and life sciences. The companies were ranked based on equal weighting of market capitalization growth, share price appreciation, trading volume and analyst coverage.

The 2012 TSX Venture 50 ® is made up of listed companies that have stood out and excelled," said John McCoach, President of the TSX Venture Exchange. "We are pleased to recognize these companies and wish each of them continued growth and success."

Steve Hermeston, President and CEO commented, "We are pleased and honoured to have received this recognition from the TSX Venture Exchange which directly reflects the hard work, delivery of results by the CGX management team and the support of our shareholders and the investment community."

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Kerry Sully
Chairman
(604) 733-9647
ksully@cgxenergy.com

Stephen Hermeston
President and CEO
(281) 492-7313 ext 103
shermeston@cgxenergy.com

Charlotte May
Communications Manager
(416) 364-3353
cmay@cgxenergy.com