LGX Oil + Gas Inc ROAOF

OT Check Out V.OYL.U

[montecarlo]

they are about to start drilling, and @ 0.70 cents its a bargin imho. check out todays news release. cheers! TORONTO, ONTARIO--(CCNMatthews - April 25, 2005) - CGX Energy Inc. (TSX VENTURE:OYL.U) and its Guyanese subsidiary ON Energy Inc. ("ON") are pleased to report that the WSPCL-2 drilling rig has been released from its drill location in Trinidad. Well Services Petroleum Company Limited (WSPCL) is loading a barge with the rig, supplies and all ancillary services for delivery to Guyana. "ON Energy, a 62% subsidiary of CGX, holds exploration licences covering approximately 800,000 acres onshore Guyana. Our minimum work commitment of aeromag, geochemical surveys and 2D seismic were completed last summer, 2 years ahead of schedule. We are pleased to finally have the opportunity to test a few of the 20 prospects we've identified, after a long delay caused by rig scarcity, a hurricane in the Gulf of Mexico and the flood of the century in Guyana," stated Warren Workman, Vice President of CGX and President of ON Energy Inc. Kerry Sully, President of CGX and Chairman of ON Energy stated "The Company is planning the drilling of up to 4 wells, at a dryhole cost of approximately US$5.2 million. Maximum target depth ranges from 4000 feet to 6,200 feet, compared with the shallow wells onshore Suriname at Tambaredjo and Calcutta, that have a maximum depth of approximately 1,500 feet. If our drilling is successful, it would create a significant new industry for the people of Guyana, and be very material for the shareholders of both ON and CGX. However, this is high risk exploration, because there has never been a commercial hydrocarbon discovery either on or offshore." CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, U.S.A. and the UK. CGX is financed internationally and has thousands of shareholders worldwide. THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. Trading Symbol: OYL.U Shares Outstanding: 93,447,163 Fully-Diluted: 109,368,981 FOR FURTHER INFORMATION PLEASE CONTACT: CGX Energy Inc. Kerry Sully President & CEO [phone] or CGX Energy Inc. Charlotte May Investor Relations [phone] or CGX Energy Inc. Denis Clement Director [phone] www.cgxenergy.comTHE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. © CCNMatthews