2009-08-04-2009-07-01

To acquire 50% WI in 54,363 acre-Nicolet permit targeting Utica shale in St. Lawrence Lowlands Basin.

Junex, Quebec City, Quebec, (Toronto Venture: JNX) has negotiated a final farm-out agreement in Quebec with Ontario-based Fairlady Energy Inc. Junex will earn a 50% working interest in the Nicolet Permit that targets the Utica shale by drilling two exploration wells to the base of the Utica formation. The permit covers 54,363 acres within the St. Lawrence Lowlands Basin. The first of these two wells, the St-Gregoire No. 3 well, has already been drilled to a total depth of 875 meters. The presence of gas was identified in the shale section and four cores of nine meters each were retrieved during the drilling of the well. Junex has recently completed a seismic survey of 14 line-kilometers on the Nicolet property. The results of this survey allowed the positioning of the second well that forecast to commence prior to the end of June. The estimated total depth of this second well is about 1,600 meters and a total of 36 meters of core are planned to be cut in the Utica shale.