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CGX and Frontera Discover 210 Feet of Hydrocarbon-Bearing Sands in the Santonian Confirmed By Wireline Logs and Extensive Core Samples at the Wei-1 Well, Offshore Guyana

Second Discovery on the Corentyne Block Following Kawa-1 Light Oil and Condensate Discovery in 2022 Successfully Finished Drilling Operations With No Safety Incidents TORONTO, June 28, 2023 /CNW/ - CGX Energy Inc. (TSXV: OYL) (

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Guyana: CGX and Frontera announce details of the Wei-1 oil discovery offshore Guyana

Guyana: CGX and Frontera announce details of the Wei-1 oil discovery offshore Guyana
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Guyana: CGX JV encounters oil in Wei-1 well offshore Guyana

CGX Energy, operator and joint venture partner with Frontera Energy in the Petroleum Prospecting License for the Corentyne block offshore Guyana, has announced that the Wei-1 well has encountered multiple oil-bearing intervals in the western channel fan complex of the northern portion of the Corentyne block in formations of Maastrichtian and Campanian ages.

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Frontera Announces First Quarter 2023 Results

Recorded a Net Loss of $11.3 Million Generated Operating EBITDA of $91.9 Million Delivered 41,586 Boe/d Q1 Average Daily Production, 41,800 Boe/d YTD Average.

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Frontera Announces Fourth Quarter and Year End 2022 Results

Recorded Net Income of $197.8 Million in Q4 22 and $286.6 Million for FY 22 Delivered Full Year Operating EBITDA of $641.9 Million, Up 70% On Frontera s.

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