CGX Energy Inc. (TSXV: OYL) (“CGX”) 和 Frontera Energy Corporation (TSX: FEC) (“Frontera”) 是圭亚那近海 Corentyne 区块石油勘探许可证 (“许可证”) 的合资伙伴 (“合资企业”)，今天宣布合资企业已向圭亚那政府提交了 Wei-1 发现的潜在商业利益通知 (“通知”)，这保留了合资企业在许可证中的利益。2023

年，合资企业成功钻探了 Wei-1 井，这是其在 Corentyne 区块的第二口井。该井履行了原 10 年许可证第二续期第二阶段的义务，并作为圭亚那政府 Kawa-1 评估计划的评估井。

在合资公司在 Corentyne 区块的整个经营期间，合资公司和圭亚那政府一直进行着定期、建设性和协作性的对话，包括讨论合资公司在 Corentyne 区块开展进一步活动的条件。合资公司期待尽快完成这些讨论，并将尽快提供最新信息。

在投资银行和资本市场专家 Houlihan Lokey 的支持下，合资公司继续积极寻求战略选择，以释放 Corentyne 区块的潜力。

CGX Energy Inc. (TSXV: OYL) ("CGX") and Frontera Energy Corporation (TSX: FEC) ("Frontera"), joint venture partners (the "Joint Venture") in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the "License"), today announced that the Joint Venture has submitted a Notice of Potential Commercial Interest (the "Notice") for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture's interests in the License.

In 2023, the Joint Venture successfully drilled the Wei-1 well, its second well on the Corentyne block. The well fulfilled the obligation under Phase Two of the Second Renewal Period of the original 10-year License and served as an appraisal well for the Kawa-1 Appraisal Programme with the Government of Guyana.

The Joint Venture and the Government of Guyana have engaged in regular, constructive and collaborative conversations throughout the Joint Venture's tenure on the Corentyne block, including discussions regarding conditions under which further activities could be performed by the Joint Venture in the Corentyne block. The Joint Venture looks forward to completing these discussions in an expeditious manner and will provide an update as soon as practicable.

The Joint Venture, with support from investment bank and capital markets experts Houlihan Lokey, continues to actively pursue strategic options to unlock the potential of the Corentyne block.