CGX Energy Provides Operational Update

 (TSX-V | OYL)  TORONTO, Aug. 18, 2014 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX Energy" or  the "Company") today provided an operational update on its exploration assets  in Guyana.  Helicopter services contract  CGX Energy is pleased to announce that it has entered into a definitive  agreement for the provision of helicopter services for use in the drilling of  its first commitment well on its Corentyne Block scheduled to be spudded  before October 31, 2015.  Under the terms of the agreement, the Company has  procured the services of Bristow Helicopters (International) Limited, a  corporation organized and acting under the laws of England and having its  registered office in England.  Shallow Hazard survey completion  Additionally, CGX has completed a shallow hazard survey in order to acquire  seabed conditions and drilling hazard information surrounding the location of  its first commitment well on the Corentyne Block.  The survey, performed by  the M/V Sea Surveyor of Guardline Marine Sciences (South America) Ltd.,  comprised an area of 3.5km x 4.5km.  Soil boring samples will be taken in  October 2014 to predict leg penetration for the HAKURYU-12 jack-up drilling  rig.  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 Bristow:  Bristow Group Inc., based in Houston, Texas, is the leading provider of  helicopter services to the worldwide offshore energy industry based on the  number of aircraft operated, and one of two helicopter service providers to  the offshore energy industry with global operations. Bristow has proudly  served the offshore oil transport industry in major exploration and production  arenas for more than 50 years and has been responsible for many  industry-leading technological innovations.  Bristow currently has major helicopter transportation operations in the North  Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major  offshore oil and gas producing regions of the world, including Australia,  Brazil, Canada, Mexico, Russia and Trinidad.  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.  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/August2014/18/c7393.html  CO: CGX Energy Inc. ST: Ontario NI: FIELD  
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