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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Gold who wrote (21127)	12/13/1999 1:57:00 PM
From: Handshake™	Read Replies (2) \| Respond to of 25548

Maybe the headlines will look like this! Monday December 13, 11:51 am Eastern Time Company Press Release CGX Energy Inc. (CGXX.U-CDN) US$3 Million Financing Complete TORONTO, ONTARIO--CGX Energy Inc. (CGXX.U) is pleased to announce that the US$3 million private placement announced on November 4, 1999 has been completed. CGX Energy Inc. has a 100% interest in the Corentyne Concession in the Guyana Basin, covering approximately 3,800,000 acres both offshore and onshore Guyana. The Guyana Basin is located in Guyana on trend and between major producing oil fields in East Venezuela and Trinidad 400 km to the north-west and Suriname 120 km to the south-east. CGX has identified four potential targets (Eagle, Wishbone, Horseshoe East and Horseshoe West) on the offshore portion of the Concession. Activity in the Guyana Basin is intensifying with other participants including Exxon, Repsol and AGIP in the Guyana portion and a joint venture between Burlington, Shell, Total-Fina and the Korean National Oil Company in the Suriname portion adjacent to CGX's concession. As a result of the private placement, Azure Energy Fund Inc. acquired an aggregate of 2,307,693 common shares of CGX and 1,923,078 warrants of CGX, each warrant entitling the holder to purchase one common share of CGX at a price of US$1.00 until May 15, 2001. Azure Energy Fund indicated that it did not hold any securities of CGX prior to the acquisition of these shares and warrants and that the transaction was effected for investment purposes. Azure Energy Fund also indicated that it has no present intent of acquiring additional securities of CGX, but reserves the right to do so depending on the price and availability of such securities, future developments in the business of CGX and economic and market conditions. THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY AUTHORITY OR SIMILAR BODY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. -------------------------------------------------------------------------------- Contact: CGX Energy Inc.