CGX Resources Inc. (CRI) as operator of the Corentyne and Demerara blocks continues to pursue its exploration program in these blocks offshore Guyana and is providing an update concerning the status of the Kawa-1 exploration well in the Corentyne block scheduled to be spudded during the second half of this year. Well design is completed and procurement of long lead items and recruitment of key technical staff are in advanced stages. CRI expects to drill the Kawa-1 exploration well in a water depth of approximately 1,100 feet targeting the Santonian level. Berbice Deep Water Project Update: CGX Energy, through its wholly-owned subsidiary Grand Canal Industrial Estates (GCIE) announces that its Berbice Deep Water Port (the Port), which is currently under construction, will encompass both oil and gas offshore operations support as well as agricultural and general cargo. The project, with current estimates for a fully developed port involving investment in the range of USD 130 million, targets full operation of the oil and gas support base in early 2022 and full operation of the cargo terminal aspects of the port in 2023. The Company announces that its engineering designs, permitting, marketing and ongoing civil works are all on schedule to meet these targets. The Port, which is located adjacent to Crab Island on the Eastern Bank of the Berbice River, is 4.8 km from the Atlantic Ocean. GCIE expects that the Port will significantly boost local content engagement in the oil and gas sector and add enhanced logistics capacity for import and export, including expandable capacity to accommodate the possibility of increased product flow to and from the southern states of Brazil. Due to its location close to Suriname, the Port's oil and gas support functions will also help to serve the rapidly growing offshore exploration and development activities in that country's oil and gas sector. The Port will also add significant capacity to the agricultural sector, supporting rice, sugar, agro-processing and agricultural materials. GCIE expects that during the construction phase, approximately 1,000 individuals will be directly employed, with approximately 300 full time employees engaged in the long-term operations of the Port.