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

Nexstar Energy Ltd.

August 23, 2006 09:00 ET

Nexstar Over-Allotment Option Fully Exercised

CALGARY, ALBERTA--(CCNMatthews - Aug. 23, 2006) - Nexstar Energy Ltd. ("Nexstar" or the "Company") (TSX VENTURE:NXE.A)(TSX VENTURE:NXE.B) is pleased to announce that MGI Securities Inc., the lead Agent for the Company's initial public offering (the "Offering"), has advised the Company of its intent to exercise the remaining $400,000 amount of the original $1,000,000 over-allotment option. Closing of this transaction is anticipated to occur on or before August 28, 2006.

As previously announced, the Offering was fully subscribed resulting in gross proceeds of $11,000,000 plus an additional $600,000 on initial exercise of the over-allotment option.

Nexstar Energy is an emerging junior oil and gas company focused on the exploration, development and exploitation of oil and natural gas reserves in western Canada.

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.

9,040,000 Class A Shares

1,044,000 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)
    Email: peterc@nexstar-energy.com
    or
    Nexstar Energy Ltd.
    Brian J. Spilchen
    Vice-President Finance and CFO
    (403) 263-6133 ext.202
    (403) 263-3629 (FAX)
    Email: brians@nexstar-energy.com
    or
    Nexstar Energy Ltd.
    603 - 7 Avenue SW, Suite 525
    Calgary, Alberta T2P 2T5