Nexgen Petroleum Corp.
OTC Bulletin Board : NXPE

November 25, 2008 09:00 ET

Nexgen Announces Commencement of a Completion Program for the Jointly-Owned John Bowen #2 Deep Gas Well

LAS VEGAS, NEVADA--(Marketwire - Nov. 25, 2008) - Nexgen Petroleum Corp. (OTCBB:NXPE) is pleased to announce that a completion program has commenced at the John Bowen #2 deep gas well in Morgan County, north-central Tennessee. This program includes perforating a prospective deep gas bearing zone, and if necessary fracture stimulating the zone.

Although it is premature to say what kind of reserves there may be attributable to the John Bowen #2 well or what production rates may be achieved, we are anticipating that there may be significant pressures and flow rates encountered based upon how deep the zone is located.

The logs for the John Bowen #2 well confirm that this potential gas zone is situated at 8,275 feet in the Rome formation, and that it has approximately 17 feet of interpreted net pay. This potential gas zone has never been produced in the State of Tennessee as no wells have been cased for production to this depth in the past prior to the drilling of the John Bowen #2 well earlier this year.

Preliminary discussions have been held with field personnel with respect to delivering gas from the John Bowen #2 well into Spectra's East Tennessee pipeline system that is located approximately 1 mile away from the John Bowen #2 well. Nexgen et al have been informed that there is significant excess capacity available and that the pipeline is part of the main gas transmission system that runs across the United States.

Nexgen is also pleased to announce that the Company is in the process of negotiating an arrangement with Montello Resources, the well's operator, to increase its working interest in this well and the proximal John Bowen #1 well to 15%, as well as to earn outright ownership in the surface rights and mineral rights underlying the 110 acres comprising the Bowen Lands.

On behalf of the Board of Directors,

Nexgen Petroleum Corp.

Hsien Loong Wong, President and Director

About Us: Nexgen Petroleum Corp. is targeting undeveloped U.S. oil and gas opportunities with leading-edge drilling technologies in the Southern Appalachian Foothills. With a disciplined commitment to growth through the drill bit, and also via strategic joint ventures, Nexgen aims to realize maximum leverage from our investment capital.

FORWARD LOOKING STATEMENTS: This news release may include "forward-looking statements" regarding Nexgen Petroleum Corp., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Nexgen Petroleum Corp. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Nexgen Petroleum Corp. does not undertake any obligation to update any forward looking statement, except as required under applicable law.

About Us: Nexgen Petroleum Corp. is targeting undeveloped U.S. oil and gas opportunities with leading-edge drilling technologies in the Southern Appalachian Foothills. With a disciplined commitment to growth through the drill bit, and also via strategic joint ventures, Nexgen aims to realize maximum leverage from our investment capital.

Contact Information

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    Investor Relations
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