Junex Inc. is pleased to announce that Netherland, Sewell &...

Junex Inc. is pleased to announce that Netherland, Sewell & Associates, Inc., ("Netherland Sewell"), an independent reservoir engineering firm based in Texas, has provided their "Best Estimate" of the Prospective Original Gas in Place Resources ("OGIP") volumes for the Utica Shale on the Company's Nicolet Permit in the St. Lawrence Lowlands at 8.67 Trillion Cubic Feet ("TCF"). Junex's 50% interest of this Prospective Resources OGIP volume is 4.33 TCF.

Netherland Sewell, a world renowned independent reservoir engineering firm was commissioned by Junex and partner Canadian Quantum to complete a resources assessment ("the Report") of the Utica Shale on the Nicolet Permit following the drilling of the Junex St-Gregoire No. 2 and the Junex St-Gregoire No. 3 wells in 2009. Using their expertise in evaluating other shale gas plays, Netherland Sewell's evaluation includes detailed petrophysical and geologic analysis including a review of the available core and lab analysis data. All results have been prepared in accordance with the regulations pursuant to National Instrument 51-101, Standards for Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. The evaluation does not include any evaluation of the jointly held shallower Lorraine Formation in the Nicolet Permit.

The Netherland Sewell evaluation focused on the Company's Nicolet Permit and its Utica Shale potential. The Report's findings are detailed as follows:
In the Report Netherland Sewell evaluated 97% of the 59,090 acre Nicolet Permit and subdivided it into three segments:

- The Northwest Segment on the upthrown side of the Yamaska Fault where the Utica is shallower and slightly over pressured encompasses 12.9% of the Permit; and

- The Central (Medium-Deep) Segment on the downthrown side of the Yamaska Fault where the Utica is deeper and over pressured encompasses 69.1% of the Permit; and

- The Southeast (Deep) Segment on the downthrown side of the Yamaska Fault where the Utica is deepest and over pressured encompasses 18.0% of the Permit.
- Prospective Undiscovered Resources OGIP for the combined segments range from a Low Estimate of 6.95 TCF to a High Estimate of 10.52 TCF, with a Best Estimate of 8.67 TCF for the joint 100% interest.

- For the joint 100% interest, on an acreage basis, the Best Estimate of Prospective Resources OGIP is 126 Billion Cubic Feet per square mile ("126 BCF/section") in the Deep Segment of the Nicolet Permit, with a Low Estimate of 102 BCF/section and a High Estimate of 153 BCF/section. The weighted average Best Estimate over the entire Permit is 97 BCF/section.

- Junex's company gross unrisked prospective resources range from a Low Estimate of 147 BCF to a High Estimate of 1,307 BCF over the entire Nicolet Permit. A Best Estimate of a net 436 BCF to Junex's 50% interest using a 10% recovery factor was made.
Mr. Jean-Yves Lavoie, P. Eng., Junex's President and Chief Executive Officer, commented, "NSAI's "Best Estimate" of 4.33 TCF for Junex's net share of the prospective OGIP volume is quite significant for our company. Even with a relatively conservative recovery factor of 10%, NSAI's "Best estimate" of potentially recoverable Net Prospective Resources is set at 436 BCF for Junex's share of this permit which represents approximately 6.6% of our total net acreage in the combined medium, deeper and structured portions of the Utica Shale play in the Lowlands and represents about 4.1% of our total net acreage portfolio in the combined deeper, structured and shallow to medium-depth portions of the Utica Shale play."