Canext Energy Ltd.
TSX VENTURE : CXZ

Canext Energy Ltd.

September 27, 2007 20:35 ET

September 27, 2007-Canext Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Sept. 27, 2007) - Canext Energy Ltd. ("Canext" or the "Company") (TSX VENTURE:CXZ) announces the commencement of a normal course issuer bid (the "Bid") pursuant to the bylaws, rules and policies of the TSX Venture Exchange (the "TSXV"). Subject to regulatory approval the Bid will commence on October 5, 2007 and expire on October 4, 2008 unless terminated earlier by the Company. Pursuant to the Bid, the Company may acquire up to an aggregate of 3,869,990 common shares, representing 5% of the 77,399,816 common shares issued and outstanding as at September 27, 2007.

It is the Company's intention to acquire the common shares at prices that represent a discount to the underlying net asset value. Common shares acquired will be subsequently cancelled. The objective is to provide capital appreciation and market stability for the benefit of the Company's shareholders. Purchases under this issuer bid will be carried out by Tristone Capital Inc through the facilities of the TSXV.

Canext will be presenting at the COPIC Energy Fall Conference on October 2 in Toronto and October 4 in Montreal. An updated presentation is available on the Company's website (www.canextenergy.com).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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