CGX Energy Inc.

NEW, BG International Ltd., Reading, U.K., has retained IndigoPool to sell certain gas discovery assets in the U.K. North Sea and to farm into the Moray Firth prospect. The Artemis Field discovery (Block 47/3b) has gross gas initially in place of 200 billion cubic feet with upside potential of an additional 100 billion cubic feet in the adjacent undrilled Artemis East prospect. The Courageous discovery (Block 30/2a post-tertiary area, and Block 30/1b(N)) is a shallow relief four-way dipclosed structure in the distal portion of the Forties turbidite system in a proven fairway that includes the Blane and the Cod fields. Reserves in place are estimated to be 180 billion cubic feet gas and 37 million barrels of oil. The Volante prospect (Blocks 20/2b and 20/3d) is in the Moray Firth area, and is close to the Ettrick oil field. Recoverable resource is estimated at up to 188 million barrels equivalent. The data room is open through March 12. Contact Greg Mowlds, 713-513-1513.