Corporate Presentation Exploring for Oil & Gas in Guyana

March 2023

Forward-looking Statements

This presentation includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and other similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, risks associated with the offshore and onshore oil and gas industry (including operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of CGX to obtain all permits, consents or authorizations required for its operations and activities; and health safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the risk of CGX not being able to fund the capital and operating expenses necessary to achieve its business plan, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by CGX. The ability of the Company to carry out its business plan is primarily dependent upon the continued support of its shareholders, the discovery of economically recoverable reserves, the ability of the Company to secure customers for the use of its deep-water harbor upon completion of the project and the ability of the Company to obtain financing to develop such reserves. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of CGX should not place undue reliance on these forward-looking statements.

Although the forward-looking statements contained in this presentation are based on assumptions that management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements.

Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this presentation are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.

www.cgxenergy.com

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Company Overview

  • CGX Energy Inc.(TSX-V:OYL) is an oil and gas exploration company focused on the Guyana Basin E&P opportunities and construction of a Deep Water Port on the Berbice River.
  • Headquartered in Toronto, Canada with operational offices in Houston, USA and Georgetown, Guyana.
  • CGX Energy wholly owned subsidiary, CGX Resources Inc. (CRI), holds 32% Working Interest ("WI") of the Corentyne Petroleum Prospecting License (Corentyne PPL) in Guyana.
  • On May 9, 2022, CGX recorded a discovery at Kawa-1 with 228 feet (69 meters) of net pay across the Maastrichtian, Campanian, Santonian and Coniacian reservoir target intervals, within the northern region of its Corentyne block.
  • CGX, through its wholly owned subsidiary; Grand Canal Industrial Estates Inc. (GCIE), is constructing the Berbice Deep Water Port on a site north of Crab Island in Region 6, Guyana, 4.8 km from the Atlantic Ocean.
  • CGX has a highly skilled and qualified management team with extensive Guyanese and industry experience.
  • CGX has been operating in Guyana since 1997 and is widely acclaimed as Guyana's "Indigenous Oil Company;" maintaining strong relationships with the Government and People of Guyana.
  • Frontera Energy Corp. (TSX: FEC), a major independent O&G Canadian company operating in Latin America, supports CGX initiatives, as a 76% equity shareholder and JV Partner on the Corentyne block (68% WI).

www.cgxenergy.com

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Company Overview

CGX Energy Inc.

(Ontario)

100%

CGX Resources Inc. (Bahamas)

100%

CGX Resources

Inc. (Guyana

Registered

Branch)

32%

Corentyne

PPL

100%

CGX Energy

Management

Corp. (Delaware)

100%

62%

GCIE Holdings

ON Energy Inc

Ltd. (Barbados)

(Guyana) 1

100%

Grand Canal

Industrial Estates

Inc. (Guyana)

100%

Berbice Deep

Water Port Project

1. ON Energy is in the process of being dissolved. The Company holds no assets and this process is expected to be completed during the year ending December 31, 2023, with no impact on the Financial Statements.

www.cgxenergy.com

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CGX at a Glance

  • The Company has a strong balance sheet with no existing long-term debt and has a carry on the Wei-1 exploration well, following the completion of a farm-out agreement with Frontera Energy Corp. (FEC) on July 21, 2022.
  • The Company recorded a discovery on the Corentyne block at the Kawa-1 well in 2022: condensate and light oil discovered in 228 feet of pay in the Maastrichtian, Campanian, Santonian and Coniacian levels. This discovery has helped de-risk the Wei-1 well currently being drilled, located 14km from Kawa-1 well, raising chance of success from 29 to 56%.
  • The Wei-1 Exploration/Appraisal well was spudded in January 2023. Wei-1 is ahead of schedule with no spills or lost time work incidents. The well is expected to be completed during the second quarter of 2023.
  • CGX has spent $22.8 million to date on its Berbice Deep Water Port and is focused on the completion of the first phase of the facility in 2023.
  • CGX market cap as of April 3, 2023, was approximately Canadian $560 million.
  • CGX was recognized as one of the top-performing companies on the TSX Venture 50 2022. (https://v50.stocktrak.com/).

www.cgxenergy.com

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Disclaimer

CGX Energy Inc. published this content on 04 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2023 11:17:05 UTC.