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December 28, 2005
CYGAM ENERGY INC. REPORTS OPERATIONAL UPDATES
CYGAM ENERGY INC. (TSX Venture Exchange: CYG)
Calgary, Alberta, December 28, 2005. Cygam Energy Inc. (“Cygam” or “the Corporation”) is pleased to provide the following operational updates: The Oum Zoughar # 2 well in the Sud Remada permit of southern Tunisia, operated by Storm Ventures International Inc., has been drilled to a total depth of 3,054 meters. Production casing has been set to total depth and testing of selected Ordovician and Silurian intervals will commence shortly.
Cygam also participated in the drilling of the 9-19-50-17 W5M well in the South Edson gas unit where the Corporation has an 8.9688% working interest. Production casing was set in this well and completion operations are expected to commence in January, 2006.
This News Release includes certain "forward-looking statements". Several further tests need to be completed on the Oum Zoughar # 2 well to determine the existence, nature and quantities of hydrocarbons and there can be no assurance that economic quantities of hydrocarbons will be found on completion of such further tests or that such quantities of hydrocarbons can be placed into production. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Cygam Energy Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated or expected in such statements. Important factors that could cause actual results to differ materially from Cygam’s expectations are risks detailed herein and from time to time in the continuous disclosure filings made by Cygam with securities regulators on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
For further information please contact:
Dario Sodero, President or
Ali Rawji, Chief Financial Officer
Tel: (403) 802-6983, Fax: (403) 802-6984
E-mail: dario.sodero@cygamenergyinc.com or ali.rawji@cygamenergyinc.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release