CGX Energy Announces Drilling Rig LOI with INPEX and Japan Drilling Co., Ltd.

CGX Energy Announces Drilling Rig LOI with INPEX and Japan Drilling Co., Ltd. 
(TSX-V | OYL) 
TORONTO, June 2, 2014 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX Energy" or 
the "Company") is pleased to announce that it has entered into a binding 
letter of intent ("LOI") with Teikoku Oil (Suriname) Co., Ltd., a wholly-owned 
subsidiary of INPEX Corporation ("INPEX" and CGX Energy, the "Rig Sharing 
Group"), and Japan Drilling Co., Ltd. ("JDC"), for use of the jack-up drilling 
rig known as the "Hakuryu-12" rig. 
The LOI forms the basis of the definitive rig agreements between JDC and each 
of the members of the Rig Sharing Group.  The members of the Rig Sharing Group 
are required to enter into definitive rig agreements with JDC in order to 
reduce mobilization and demobilization costs.  The Hakuryu-12 rig will be 
delivered to Trinidad between April 1, 2015 and May 1, 2015. 
Dewi Jones, Chief Executive Officer of the Company, commented:  "This LOI 
represents the next step in drilling at our 100% owned Corentyne Block.  Being 
a part of the Rig Sharing Group means that CGX Energy will benefit from 
significantly reduced mobilization and demobilization costs typically 
associated with offshore drilling. The Hakuryu-12 rig is a jack-up rig that 
fits the Company's well design specifications." 
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. 
About INPEX: 
INPEX is the largest Japanese oil & gas exploration and production company 
that ranks high among the mid-tier international oil and gas E&P companies 
(independents). INPEX is currently carrying out more than 70 oil and natural 
gas projects across 28 countries, including two large scale LNG project, 
Ichthys LNG Project in Australia and Abadi LNG Project in Indonesia as the 
Operator. INPEX aims to become a top class international oil & gas exploration 
and production company through sustainable growth in the oil and gas 
development business. With natural gas as the core of our business, INPEX will 
grow into an integrated energy company by making contributions to a stable 
energy supply to broader communities. 
About JDC: 
JDC is Japan's sole offshore drilling contractor, and has been providing 
quality drilling services for more than 40 years. In addition to offshore 
drilling services, JDC provides Engineering Services, and R&D in relation to 
offshore drilling as well as oil and gas exploration and development, and also 
Horizontal Directional Drilling (HDD) services. 
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 news 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 Energy. CGX Energy 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 news release are outlined further in the Company's Annual Information 
Form dated March 5, 2014 filed on SEDAR at www.sedar.com. 
The forward-looking statements contained in this news release are made as of 
the date hereof and CGX Energy 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/June2014/02/c7858.html 
CO: CGX Energy Inc.
ST: Ontario
NI: FIELD ORDER  
-0- Jun/02/2014 12:30 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.