CGX Trading Halt

- September 9th, 2011

CGX Energy Inc. (CVE:OYL) reported that trading in its shares was halted after the reaction to a report by Tullow Oil plc of oil discoveries in the Zaedyus well offshore French Guiana.

CGX Energy Inc. (TSXV:OYL) reported that trading in its shares was halted after the reaction to a report by Tullow Oil plc of oil discoveries in the Zaedyus well offshore French Guiana.

The press release is quoted as saying:

CGX does not have any interest in the Zaedyus well.

Kerry Sully, Chairman of CGX, says,

“CGX is a 25% partner with Tullow, Repsol and YPF in the Georgetown Petroleum Prospecting Licence offshore Guyana in which the partners are preparing to drill a Turonian test in the Jaguar well later this year. Investors are cautioned that Jaguar is located over 500 km from Zaedyus and the risk remains high.”

Click here to access the entire press release

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