Corporate Structure

(i) CGX Resources Inc., a wholly-owned subsidiary incorporated under the laws of Bahamas; (ii) GCIE Holdings, a wholly-owned subsidiary incorporated under the laws of Barbados that owns 100% of the shares of Grand Canal Industrial Estates Inc.; (iii) Grand Canal Industrial Estates Inc., a corporation subsisting under the laws of Guyana that is a wholly-owned subsidiary of GCIE Holdings; and (iv) CGX Energy Management Corp., a wholly-owned subsidiary incorporated under the laws of Delaware, United States.

The head and registered office of CGX Resources Inc. is located at Mareva House, 4 George Street, Nassau, Bahamas. The head and registered office of GCIE Holdings is located at Worthing Centre, Worthing Main Road, Christ Church, BB 15008, Barbados. The head and registered office of Grand Canal Industrial Estates Inc. is located at 234 Lance Gibbs and Irving Streets, Queenstown, Guyana. The registered office of CGX Energy Management Corp. is located at 1209 Orange St., Wilmington, Delaware, 19801, United States and the head office is located at 118 Vintage Park Blvd, Suite W 419, Houston, Texas, 77070, United States.

CGX Resources Inc., holds 27.48% working interest (see notes below) of the Corentyne Petroleum Prospecting License in Guyana (Corentyne PPL).

The following organizational chart sets forth the corporate structure of CGX, its ownership interest in each subsidiary corporation and interest of each subsidiary in the assets of CGX.