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November 20, 2007
CYGAM ENERGY INC. ANNOUNCES FILING OF THIRD QUARTER FINANCIAL STATEMENTS AND MD&A CYGAM ENERGY INC. (TSX Venture Exchange: CYG)
Calgary, Alberta, November 20, 2007 – Cygam Energy Inc. (Cygam) has filed the interim consolidated financial statements for the third quarter of 2007, management discussion and analysis (MD&A) and additional information required to be filed pursuant to the requirements of the Canadian Securities Administrators. Copies of these documents can be accessed electronically through the SEDAR system at www.sedar.com
Cygam is an exploration company with producing oil and gas properties in Canada and extensive international exploration concessions. The main focus of the Corporation is on the acquisition, exploration and development of international permits, primarily in Italy, Tunisia and the Mediterranean basin. Cygam currently holds various interests in five exploratory concessions in Italy and four exploratory concessions in Tunisia encompassing approximately 4 million gross acres (approximately 2.7 million net acres). Visit the Cygam website at www.cygamenergyinc.com for more information about the Corporation.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding interpretation of seismic and well data, 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. In particular, various factors can cause delays or prevent the Corporation from carrying out the Bhayra Rigo # 1 testing program as scheduled, including but not limited to unavailability of equipment and manpower. The existence of discoveries in structures and formations in the regions where Cygam has permits does not necessarily assure that the company will be successful. 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