Javelin Energy Announces Third Quarter Financial Results and Closing of Private Placement

Javelin Energy Inc. ("Javelin" or the "Company") (TSX VENTURE:JAV) announces its
third quarter financial results for the three and nine month periods ended
December 31, 2008. The Unaudited Consolidated Financial Statements and
Management's Discussion and Analysis ("MD&A") for the quarter should be read in
conjunction with the Audited Financial Statements and MD&A for the year ended
March 31, 2008, all of which are filed and now available for viewing on the
System for Electronic Analysis and Disclosure ("SEDAR") at www.sedar.com.


The Company also announces that it has closed a private placement for gross
proceeds of $255,000 (the "Offering") of Units at a price of $0.03 per Unit.
Each Unit is comprised of one Common Share and one Common Share Purchase Warrant
("Purchase Warrant"). The Purchase Warrants are exercisable into Common Shares
at a price of $0.10 per share for two years from the closing date of the
Offering. More than 25% of the Offering was subscribed for by insiders of the
Company. The Common Shares and Purchase Warrants issued in the Offering are
subject to a four month hold and final approval by the TSX Venture Exchange. The
funds from the Offering will be utilized by the Company for working capital
purposes.


The Company is currently cash constrained and requires the funds from the
Offering to meet its primary banking and working capital commitments. The
Company is currently operating under a forbearance agreement, which is effective
to August 31, 2009, with its principal lender as a result of the Company's
failure to maintain a working capital ratio of 1.0 current assets to 1.0 current
liabilities. The funds from the Offering will assist the Company in reducing
outstanding payables and assist in correcting the working capital issue.


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 may contain 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.


25,659,848 Common Shares