Javelin Energy Inc.
TSX VENTURE : JAV

Javelin Energy Inc.

September 21, 2007 14:26 ET

Javelin Energy Announces Recommencement of Trading and Annual Meeting

CALGARY, ALBERTA--(Marketwire - Sept. 21, 2007) - Javelin Energy Inc. ("Javelin" or the "Company") (TSX VENTURE:JAV) is pleased to announce that the Alberta and British Columbia Securities Commissions have issued full revocations of cease trade orders resulting from a delay in the Company filing its year-end financial statements and MD&A issued on August 16 and August 22, 2007, respectively. As previously announced, the Company released its Annual Financial Statements and related MD&A on August 28, 2007. The delay in filing the Annual Financial Statements resulted from the level of due diligence undertaken by the new management and Board to ensure that all financial information was complete and accurate. The Company has been advised by the TSX Venture Exchange (the "TSXV") that its common shares are scheduled for reinstatement at the opening of the market on Monday, September 24, 2007.

Further to the subsequent event note in the Company's Audited Annual Financial Statements, the Company advises that the number of common shares issued by the Company increased from 16,642,603 to 16,667,140 as a result of the issuance of 24,537 common shares which were previously issued to acquire the remaining 8% of the outstanding shares of Greystone Research Corp. This transaction is subject to the approval of the TSXV and the Company has filed an application seeking such approval.

The Company also announces that it has scheduled and will hold its Annual and Special Meeting on Tuesday, October 30, 2007 at 3:00 p.m. The Record Date for the Annual Meeting has been set at September 12, 2007. A Notice and Meeting Circular will be mailed to all shareholders of the Company by October 2, 2007.

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
    or
    Javelin Energy Inc.
    610, 7015 Macleod Trail SW
    Calgary, Alberta T2H 2K6