Toronto, Ontario--(Newsfile Corp. - April 30, 2026) - CGX Energy Inc. (TSXV: OYL) ("CGX" or the "Company") today announced its intention to adopt the policies outlined in the semi-annual financial reporting pilot program ("SAR Pilot Program") and exemptions provided under Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order").

The SAR Pilot Program is implemented under the Blanket Order, which allows eligible venture issuers to voluntarily move from quarterly to semi-annual financial reporting. By adopting the SAR Pilot Program, CGX aims to reduce the administrative burden and associated costs of quarterly reporting.

In reliance of the Blanket Order, CGX will not file interim financial statements and related management discussion and analysis ("MD&A") for the three-month period ending March 31, 2026, and nine-month period ending September 30, 2026. CGX will continue to file audited annual financial statements and MD&A (due within 120 days of December 31) and six-month interim financial statements and MD&A (due within 60 days of June 30).

CGX confirms it meets the SAR Pilot's eligibility criteria, which include being a venture issuer with annual revenues of less than $10 million and maintaining a clean 12-month continuous disclosure record. CGX remains committed to timely disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102 - Continuous Disclosure Obligations.

This news release is being filed pursuant to the Blanket Order.

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.

About CGX

CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin and the operation and development of a port in Berbice, Guyana.

Cautionary and Forward-Looking Statements:

This press release contains forward‐looking information within the meaning of Canadian securities laws. Forward‐looking information relates to activities, events or developments that CGX believes, expects or anticipates will or may occur in the future. Forward‐looking information in this press release includes, without limitation, the ability of CGX to rely on the Blanket Order; the timing of the filing of future financial disclosure. Forward‐looking information reflects the current expectations, assumptions and beliefs of CGX based on information currently available to it and considers the experience of CGX and its perception of historical trends. Although CGX believes that the assumptions inherent in the forward‐looking information are reasonable, forward‐looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on such information.

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