CYGAM Energy Announces Tunisian Exploration Permit Extensions

CYGAM Energy Inc. ("CYGAM") (TSX VENTURE:CYG) is pleased to announce that the
Direction Generale de l'Energie ("DGE") in Tunisia has approved the following
extensions to CYGAM's exploration permits onshore Tunisia. 


Bazma (CYGAM 100%)

The Bazma permit has been deemed to have entered the second exploration period
and, as a result, permit expiry is now July 26, 2015. The existing work
commitment for the first exploration period (one well to the Ordovician or 4,400
metres) has been rolled into the second period which carries an additional
commitment to drill a shallow well to the Triassic. 


Sud Tozeur (CYGAM 100%)

The Sud Tozeur permit has been granted a special extension of one year so that
expiry is now May 12, 2014. No additional commitments apply to this extension
period. The existing commitments of one deep well to the Cambrian/Ordovician or
4,500 metres and 200 km2 of 3D seismic data are now due to be completed by May
12, 2014.


CYGAM's CEO David Taylor commented "We are pleased to have the support of the
DGE in granting these permit extensions. CYGAM is committed to the effective
exploration of these permits and the additional time allows for the orderly
pursuit of suitable farmin partners. The existing 2D seismic in both permits has
recently been reprocessed and a full re-interpretation is currently underway to
form the technical foundation of a broad farmout initiative which is expected to
commence in early 2013."


About CYGAM Energy Inc.

CYGAM is a Calgary based exploration company with extensive international
exploration permits and a producing property in Tunisia. The main focus of CYGAM
is the acquisition, exploration and development of international oil and gas
permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM
currently holds various interests in seven exploratory permits in Italy plus
three exploratory permits and the BBT Production Concession in Tunisia which
together encompass a total of approximately 2.7 million gross acres.


Forward Looking Information

In the interest of providing shareholders and potential investors with
information regarding Cygam, including management's assessment of the future
plans and operations of Cygam, certain statements contained in this news release
constitute forward-looking statements or information (collectively
"forward-looking statements") within the meaning of applicable securities
legislation. Forward-looking statements are typically identified by words such
as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will",
"project", "could", "plan", "intend", "should", "believe", "outlook",
"potential", "target" and similar words suggesting future events or future
performance. In particular, this news release contains, without limitation,
forward-looking statements pertaining to future Tunisian operations and
transactions respecting Cygam's Tunisian assets and the timing thereof.


With respect to the forward-looking statements contained in this news release,
Cygam has made assumptions regarding, among other things: the ability of the
operator to continue to operate in Tunisia with limited logistical security and
operational issues, future capital expenditure levels, future oil and natural
gas prices, future oil and natural gas production levels, ability to obtain
equipment in a timely manner to carry out exploration and development
activities, the impact of increasing competition, the ability of Cygam and its
partners to add production and reserves through development and exploitation
activities, certain commodity price and other cost assumptions, the continued
availability of adequate financing and cash flow to fund its planned
expenditures. Although Cygam believes that the expectations reflected in the
forward-looking statements contained in this news release, and the assumptions
on which such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers are
cautioned not to place undue reliance on forward-looking statements included in
this news release, as there can be no assurance that the plans, intentions or
expectations upon which the forward-looking statements are based will occur. By
their nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties that contribute to the possibility that
predictions, forecasts, projections and other forward-looking statements will
not occur, which may cause Cygam's actual performance and financial results in
future periods to differ materially from any estimates or projections of future
performance or results expressed or implied by such forward-looking statements.


These risks and uncertainties include, without limitation: political and
security risks associated with the Tunisian operations; risks associated with
the operation of Cygam's assets by third parties, including the limited ability
of Cygam to exercise influence over the operation of those assets or their
associated costs, the timing and amount of capital expenditures, the operator's
expertise and financial resources, the approval of other participants, and the
selection of technology and risk management practices; risks associated with oil
and gas exploration, development, exploitation, production, marketing and
transportation, loss of markets, volatility of commodity prices, currency
fluctuations, imprecision of reserve and resource estimates, the continued
impact of shut-in production, environmental risks, competition from other
producers, inability to retain drilling rigs and other services, capital
expenditure costs, including drilling, completion and facilities costs,
unexpected decline rates in wells, delays in projects and/or operations
resulting from surface conditions, wells not performing as expected, delays
resulting from or inability to obtain the required regulatory approvals and
ability to access sufficient capital from internal and external sources. As a
consequence, actual results may differ materially from those anticipated in the
forward-looking statements. Readers are cautioned that the forgoing list of
factors is not exhaustive. Additional information on these and other factors
that could affect Cygam's operations and financial results are included reports
on file with Canadian securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com) and at Cygam's website
(www.cygamenergy.com). Furthermore, the forward-looking statements contained in
this news release are made as at the date of this news release and Cygam does
not undertake any obligation to update publicly or to revise any of the
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CYGAM Energy Inc
David Taylor
President and Chief Executive Officer
[e-mail]
www.cygamenergy.com


Macam Investor Relations
Cameron MacDonald
[phone]
[phone] (FAX)
[e-mail]