CGX Energy Inc. Names Its Corentyne Prospect

Toronto, Ontario--(Newsfile Corp. - August 8, 2018) - CGX Energy Inc. (TSXV: OYL) ("CGX Energy" or the "Company") announces that it shall be naming a prospect in its Corentyne Petroleum Prospecting Licence (PPL) at a ceremony in Guyana, presided by the Indigenous Peoples of that country on Friday August 10^th, 2018.

There are no further operational updates at this time.

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE 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.

For further information, please contact:

Brooks Lyons, Manager, Commercial & Business Development at (832) 300-3200 or blyons@cgxenergy.com. Or Tralisa Maraj, Chief Financial Officer at (832) 300-3200.