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CGX Energy Files Third Quarter Financial Statements

(TSX-V | OYL) 
TORONTO, Oct. 24, 2013 /CNW/ - CGX Energy Inc. (TSXV: OYL) ("CGX Energy" or 
the "Company") announced today the release of its unaudited consolidated 
financial results for the quarter ended September 30, 2013, together with its 
Management Discussion and Analysis. These documents will be posted on the 
Company's website at www.cgxenergy.com and SEDAR at www.sedar.com. 
Third Quarter 2013 Overview and Highlights 
CGX Energy reported a net gain of $10,220,761 or $0.13 per share for the three 
month period ended September 30, 2013, compared with a net loss of $4,250,877 
or $ 0.11 a share for the same period in 2012. The increase from prior year is 
due to a non-cash gain as result of the revaluation of the Company's existing 
warrants. 
During the third quarter, CGX Energy continued to focus on cost cutting 
initiatives and as a result the Company's general and administrative costs 
have decreased by $442,770 from $1,075,832 to $633,762. Excluding one-off 
items, management and consulting fees would have also decreased by 
approximately $150,000 for the three-month ended September 30, 2013. Overall, 
the Company expects its average monthly expenditures to be within the range of 
$300,000 - $350,000 per month during non-drilling periods. 
The Company continues to actively pursue strategic joint venture partners for 
all three of its petroleum prospecting licenses in Guyana and has a technical 
data room open at its Houston office. 
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. 
Forward-Looking Statements: 
This press release contains forward-looking statements. Forward-looking 
statements are frequently characterized by words such as "plan", "expect", 
"project", "intend", "believe", anticipate", "estimate", "may", "will", 
"would", "potential", "proposed" and other similar words, or statements that 
certain events or conditions "may" or "will" occur in the future. These 
forward-looking statements are based on certain key expectations and 
assumptions made by CGX. CGX believes the expectations and assumptions on 
which it develops forward-looking statements are reasonable; however, undue 
reliance should not be placed on forward-looking statements as there can be no 
assurance they will prove to be correct. Since forward-looking statements 
address future events and conditions, by their very nature they involve 
inherent risks and uncertainties. Actual results could differ materially from 
those currently anticipated due to a number of factors and risks. In addition, 
other risks that may affect the forward-looking statements in this press 
release are outlined further in the Company's Annual Information Form dated 
June 10, 2013 filed on SEDAR at www.sedar.com. 
The forward-looking statements contained in this press release are made as of 
the date hereof and CGX undertakes no obligation to update publicly or revise 
any forward-looking statements or information, whether as a result of new 
information, future events or otherwise, unless so required by applicable 
securities laws.
 

SOURCE  CGX Energy Inc. 
Suresh Narine, Co-Chairman at (705) 933-8389 orsnarine@cgxenergy.com 
Michael Galego, General Counsel and Secretary at (416) 843-3858 
ormgalego@cgxenergy.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2013/24/c7099.html 
CO: CGX Energy Inc.
ST: Ontario
NI: ERN  
-0- Oct/25/2013 01:30 GMT
 
 
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