SOURCE: Northern Explorations Ltd.

Northern Explorations Ltd.

February 23, 2009 06:00 ET

Northern Explorations Reviewing Wind Energy Projects in Texas, Wyoming

SCOTTSDALE, AZ--(Marketwire - February 23, 2009) - Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the "Company") today is pleased to announce that the Company is currently reviewing a portfolio of wind energy projects located in the well documented Texas and Wyoming wind corridor.

The proposed projects bring together a variety of advanced and early stage opportunities thereby allowing Norex the ability to develop projects encompassing a mix of project development stages from permitting and licensing through to near completion. As part of its overall strategy the Company aims to acquire assets that are near term in regards to a potential revenue stream.

Norex is working with an industry group that brings a reliable history in the wind energy sector as regards the management of operations and logistics as well as access to state and federal government contacts and procedures. Norex's strategic plan is focused on the rapid development of an effectively managed and convergent "green energy" company offering an aligned portfolio of both natural gas and wind power assets.

The wind corridor runs from northern Texas through Wyoming to the Canadian border. The Texas panhandle is one of the premier wind energy corridors in the United States due to the low lying topography, constant wind velocity and favorable access to transmission infrastructure. Texas has consolidated its lead over California as the nation's number one wind power State based on installed capacity. In total, Texas wind farms now generate more than 4,300 Megawatts of wind power providing enough energy to serve 1.5 million homes.

An extensive Department of Energy study in 2007 said that building wind-based electrical generation capacity in the corridor could provide up to 20 percent of the U.S. power needs and create a potential for 138,000 new jobs in the first year with up to 3.4 million jobs over a 10-year span as the industry matures.

As an added incentive, the recent American Recovery and Reinvestment Act of 2009 signed into law by President Obama, offers extensive provisions for wind power via government incentives and tax breaks for renewable energy companies which include a 3-year Production Tax Credit (PTC) extension through the end of 2012, an option to elect a 30% Investment Tax Credit (ITC) in place of the PTC and a new $6 billion Department of Energy renewable energy and transmission loan guarantee program, which should fund around $60 billion in principal amount of guaranteed loans. Additionally, the Western Area Power Administration was granted the authority to borrow up to $3.25 billion from the Treasury to build renewable transmission lines in the western United States, including western Texas.

Company President Mark Schaftlein states, "With the resurgence of confidence in environmentally responsible energy production becoming increasingly backed by significantly renewed access to funding and other incentives, we feel that Norex Energy has a unique opportunity before it. Therefore, we are moving quickly to ramp up our asset acquisition program and to position ourselves in an accelerated development program. The near future should bring additional strategic information that the Company will announce as soon as the facts become available."


Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas assets across North America. The Company has acquired a majority working interest in two natural gas projects located in California which show the potential to contain up to 50 BCF of gas and in Alberta, Canada, which has the potential to contain 8 BCF gas with associated plant, pipeline and existing infrastructure.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Norex Energy (Northern Explorations Ltd.)

Mark Schaftlein
President & C.E.O.

To find out more about Norex Energy or Northern Explorations Ltd. (OTCBB: NXPN), visit our website at

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