Cygam Energy Announces Financing Arrangement

CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM", or the "Company"), an emerging oil
and gas company with interests in Tunisia and Italy, is pleased to announce that
the Company has executed a Revolving Promissory Note ("RPN") with a major
shareholder and a director of the Company. 


Under the RPN, the Company has available up to $2.5 million, to be drawn down as
required by the Company. The RPN is unsecured, expires on July 1, 2014, and
bears interest at a rate of 2.85% above prime. CYGAM intends to use proceeds
from the RPN for ongoing capital requirements and general working capital
purposes. 


The Company also announces that it has terminated the previous Securities
Lending Agreement ("SLA") with the same major shareholder of the Company. 


About CYGAM Energy Inc.

CYGAM is a Calgary based exploration company with extensive international
exploration permits and producing properties in Tunisia. The main focus of the
Company 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 and
three exploratory permits in Tunisia encompassing approximately 2.6 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. In particular, this news release contains, without limitation,
forward-looking statements pertaining to the use of proceeds from the RPN and
the expiry 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 and the ability of the Operator to obtain equipment in a
timely manner to carry out drilling and completion operations; general economic
conditions in North America, Tunisia and globally. 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 the 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 Operator's Tunisian operations, 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, 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, wells not performing as expected, delays
resulting from or inability to obtain the required regulatory approvals, CYGAM's
ability to access sufficient capital from internal and external sources; and
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. 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 in reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.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
david.taylor@cygamenergy.com


CYGAM Energy Inc
Al Robertson
Chief Financial Officer
(403) 802 6983
al.robertson@cygamenergy.com
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