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

Nexstar Energy Ltd.

November 21, 2006 09:00 ET

Nexstar Energy Releases Q3 Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 21, 2006) - Nexstar Energy Ltd. (TSX VENTURE:NXE.A) (TSX VENTURE:NXE.B) ("Nexstar Energy" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2006. The interim unaudited financial statements and Management Discussion and Analysis will be both filed on SEDAR at www.sedar.com and posted today on the Company's website at www.nexstar-energy.com.

During the third quarter of 2006, Nexstar Energy closed its $12 million Initial Public Offering, started trading on the TSX Venture Exchange on August 23, 2006, commenced well re-working operations at Pembina and finalized drilling plans for its exploration prospects at Bigoray in west central Alberta. The Company enters the 2006-2007 winter drilling season with a strong balance sheet and a solid inventory of drilling prospects.

Nexstar Energy is an emerging junior oil and gas company focused on drilling multi-zone crude oil and natural gas prospects in west central Alberta, complemented by strategic acquisitions.

ADVISORY:

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environment risks, competition from other producers and ability to assess sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

9,200,000 Class A Shares

1,080,000 Class B Shares

The TSX Venture Exchange 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
    (403) 263-3629 (FAX)
    or
    Nexstar Energy Ltd.
    Brian J. Spilchen
    VP Finance and CFO
    (403) 263-6133 ext. 202
    (403) 263-3629 (FAX)
    or
    Nexstar Energy Ltd.
    603 - 7 Avenue SW, Suite 525
    Calgary, ALberta T2P 2T5
    Email: info@nexstar-energy.com
    Website: www.nexstar-energy.com