Junex inc.

Junex inc.

January 12, 2006 23:59 ET

Junex and Team Energy extend their negotiation period

QUEBEC, Jan. 12, 2006 - Junex (JNX : TSXV) has signed a Letter of
Intent with Team Energy, LLC ("Team") on October 5, 2005. Under the terms of
this LOI, Team, alone or with affiliated companies, plans invest
US$24 million in the properties held under permit by Junex in the Province of
Quebec in exchange for a participation right in each property to be negotiated
on a play-by-play basis.

Junex and Team have signed today an extension agreement to continue,
until February 3 of 2006, the negotiation period to establish an Exploration
and Participation Agreement ("EPA") in order to clearly define the investments
and interests both parties will commit to in respect to each project
undertaken. Both parties are confident to reach a final agreement which will
be in the best interests of the shareholders and of all the partners.

About Team Energy

Team is a bonded operator and currently is active in the Illinois and
other U.S. onshore basins. By integrating the disciplines of geology,
engineering and production management, Team has realized significant growth in
its history. The company strives to be a growth-oriented company focused on
financial success for its partners, clients, employees and shareholders. Team
Energy, LLC looks forward to sustained growth as energy producers and
consultants through quality personnel, management, partners and associates by
executing integrated development and exploration projects.

About Junex

Active in the natural resources sector, Junex is a unique company in
Quebec since it is the only natural brine and natural gas producer in the
Province. In parallel to it's production activities, located in the Bécancour
area (brine) and in Gaspé (natural gas), Junex continues its efforts to
develop a natural gas underground storage facility beneath the Bécancour
industrial park. With more than 4 million acres under exploration permit in
Quebec (including the permits held by Petrolia on which Junex holds a 50%
interest in future production), Junex is also the leading oil and gas producer
and explorer in the province. Junex also holds a 19% interest in the stock of
Petrolia (PEA : TSX Venture).

The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
%SEDAR: 00015378EF

Contact Information

  • Junex Inc.
    Mr. Jean-Yves Lavoie, P. Eng.
    (418) 654-9661

    Junex Inc.
    Mr Dave Pépin
    Corporate affairs
    (418) 654-9661

    TEAM Energy
    M. Dennis Swager
    (618) 943-1010