CGX Energy Inc. (TSXV: OYL) ("CGX") and Frontera Energy Corporation (TSX: FEC) ("Frontera"), joint venture partners (the "Joint Venture") in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the "License"),

Frontera Energy (OTCPK:FECCF) and partner CGX Energy (OTCPK:CGXEF) said Tuesday the Guyana government terminated their exploration license for the Corentyne block. While the companies did not disclose the reason for the cancellation,

CGX Energy and Frontera Energy are assessing all legal options to assert rights to the Corentyne block in Guyana after the Guyanese government cancelled the petroleum

The Canadian energy companies reported that the Guyana government has given CGX Energy a 30-day warning to cancel the joint

Guyana's government has given a CGX Energy and Frontera Energy joint venture a 30-day cancellation notice of its license to explore the offshore Corentyne block, where it has found oil, the Canada-based companies said on Tuesday.

Frontera Energy and partner CGX Energy vowed to defend their remaining interests in Guyana after the government said their exploration license had terminated. The companies in a joint statement said they remained firmly of the view that their interests in the Corentyne block remains in place and in good standing and that a petroleum agreement hasn't been terminated.