2011-05-31-2011-05-04

To acquire 3.25 sections of undeveloped leasehold in Provost Field in AB, gaining 30 BO/d.

Nextraction Energy Corp., Vancouver, (Toronto Venture: NE) has entered a joint venture with an undisclosed company to acquire properties in Provost Field of eastern Alberta for undisclosed terms.

Provost Field includes the Viking A formation. The deal includes 3.25 sections of undeveloped leasehold with the potential to drill 12 to 21 horizontal wells in the defined pool. Nextraction will gain production of 30 barrels of oil per day from four producing wells. Nextraction also plans to reenter existing wellbores to frac and complete less productive wells in the field.