Javelin Energy Inc.
TSX VENTURE : JAV

Javelin Energy Inc.

July 31, 2008 12:29 ET

Javelin Energy Releases Year End Financial and Operating Results

CALGARY, ALBERTA--(Marketwire - July 31, 2008) - Javelin Energy Inc. ("Javelin" or the "Company") (TSX VENTURE:JAV) announces its financial and operating results for the fiscal year ended March 31, 2008. The audited financial statements and Management's Discussion and Analysis were filed yesterday on SEDAR at www.sedar.com. Javelin also announces its reserves for the fiscal year ended March 31, 2008. In accordance with National Instrument 51-101-Standards for Disclosure of Oil and Gas Activities ("NI 51-101"), GLJ Petroleum Consultants have independently prepared the Javelin GLJ Report (the "GLJ Report") which evaluated all of the Company's natural gas and liquids reserves as at March 31, 2008. The summary of the GLJ Report is also available for public viewing on SEDAR at www.sedar.com.

About Javelin Energy

Javelin Energy is a junior oil and gas company focused on the acquisition of, exploration for and development of petroleum and natural gas properties in Western Canada. The Company trades on the TSX Venture Exchange under the symbol "JAV".

READER ADVISORY

This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, 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 estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

16,667,140 Common Shares

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Javelin Energy Inc.
    Brian D. Fraser
    Chairman and Chief Executive Officer
    (403) 212-1472
    (403) 290-0463 (FAX)
    Email: bfraser@javelinenergy.ca
    or
    Javelin Energy Inc.
    William E. Patterson
    Chief Financial Officer
    (403) 212-1472
    (403) 290-0463 (FAX)
    Email: bpatterson@javelinenergy.ca