Nexstar Energy Ltd.
TSX VENTURE : NXE.A
TSX VENTURE : NXE.B

Nexstar Energy Ltd.

November 28, 2008 18:53 ET

Nexstar Energy Releases Third Quarter 2008 Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.

Nexstar Energy Ltd. ("Nexstar Energy" or the "Company") (TSX VENTURE:NXE.A) (TSX VENTURE:NXE.B) announces its third quarter results for the three and nine month periods ended September 30, 2008. The Unaudited Financial Statements and Management's Discussion and Analysis ("MD&A") for the quarter should be read in conjunction with the Audited Financial Statements and the MD&A for the year ended December 31, 2007, all of which are filed and now available for viewing on SEDAR at www.sedar.com. The financial information will also be posted on the Company's website at www.nexstar-energy.com.

The Company also advises that it has cancelled all of the 669,998 outstanding options to purchase Class A Shares previously issued to the directors, officers and employees of the Company, subject to applicable regulatory approval.

About Nexstar Energy

Nexstar Energy is a newly reorganized junior oil and gas company that is focused on drilling multi-zone oil and natural gas prospects in western Canada, complemented by strategic acquisitions.

13,032,869 Class A Shares

1,080,000 Class B Shares

This document contains forward-looking information that is based on expectations and estimates as of the date of this document. This forward-looking information is information that is subject to known and unknown risks and other factors that may cause future actions, conditions or events to differ materially from the anticipated actions, conditions or events expressed or implied by such forward-looking information. Forward-looking information is information that does not relate strictly to historical or current facts, and can be identified by the use of the future tense or other forward-looking words such as "proposed", "believe", "expect", "anticipate", "intend", "plan", "estimate", "should", "may", "objective", "projection", "forecast", "continue", "strategy", "position" or the negative of those terms or other variations of them or comparable terminology. Examples of such forward-looking information in this document include but are not limited to the following, each of which is subject to significant risks and uncertainties and is based on a number of assumptions which may prove to be incorrect. The Company will be required to secure financing in order to participate in the projects referenced in this document and there is no assurance that the Company will be able to secure such financing. This forward-looking information represents the Company's views as of the date of this document and such information should not be relied upon as representing the Company's views as of any date subsequent to the date of this document. The Company has attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. These factors are not intended to represent a complete list of factors that could affect the Company. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

ADVISORY: The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSXV does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nexstar Energy Ltd.
    Peter A. Carwardine
    President and CEO
    (403) 263-6133 ext. 201
    or
    Nexstar Energy Ltd.
    Brian J. Spilchen
    VP Finance and CFO
    (403) 263-6133 ext. 202
    or
    Nexstar Energy Ltd.
    603 - 7 Avenue SW, Suite 525
    Calgary, Alberta T2P 2T5
    (403) 263-3629 (FAX)
    Email: info@nexstar-energy.com
    Website: www.nexstar-energy.com