Javelin Energy Announces Year-End and First Quarter Results, Reserve Information and Provides Corporate Update

Javelin Energy Inc. ("Javelin" or the "Company") (TSX VENTURE:JAV) is pleased to
report its 2007 annual operating results and the filing of its Annual Audited
Consolidated Financial Statements and related Management's Discussion and
Analysis ("MD&A") for the year ended March 31, 2007. The Company also announces
that it has released and filed its financial and operating results for the three
months ended June 30, 2007. Select operational and financial results for the
year-end and the first quarter are outlined below and should be read in
conjunction with the Company's Annual Consolidated Financial Statements and
related MD&A and its unaudited quarterly financial statements and related MD&A
which can be found at www.sedar.com.




Highlights for the year ended:            March 31, 2007     March 31, 2006
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Petroleum & Natural Gas Sales             $    7,020,421     $       46,818

Funds from Operations                     $    2,795,851     $     (470,607)
  Per share - basic & diluted             $         0.17     $        (0.26)

Net Income (Loss)                         $   (8,767,561)    $     (572,408)
  Per share - basic & diluted             $        (0.53)    $        (0.31)

Net Income before one-time
 Goodwill write-off                       $   (1,976,761)               Nil

Net present value of proved plus
 probable reserves discounted at 10%      $   24,710,000     $   21,357,000



Highlights for the period ended:           June 30, 2007      June 30, 2006
----------------------------------------------------------------------------
Production
  Natural Gas                                      3,184              2,844
  Liquids                                             50                 28
 ---------------------------------------------------------------------------
  Total                                              581                502

Petroleum & Natural Gas Sales             $    2,435,015     $    1,789,051

Funds from Operations                     $      694,086     $      425,662
  Per share - basic & diluted             $         0.04     $         0.03

Net Income (Loss)                         $     (677,634)    $   (1,264,461)
  Per share - basic & diluted             $        (0.04)    $        (0.08)



Reserve Information

The Company also announces that it has released and filed its reserves for the
fiscal year ended March 31, 2007. In accordance with National Instrument 51-101
- Standards for Disclosure for Oil and Gas Activities ("NI 51-101"), GLJ
Petroleum Consultants ("GLJ") have independently prepared the Javelin GLJ Report
(the "GLJ Report") which evaluated all of the Company's oil, natural gas and
liquids reserves as at March 31, 2007. The GLJ price forecast of April 1, 2007
was used to determine estimates of future net revenues. Based on the GLJ Report,
the Company has gross proved plus probable reserves of 1,388 MBOE ("Company
Gross Reserves"). The before tax net present value discounted at 10% of the
Company Gross Reserves is $24,710,000. Total proved reserves account for 66% of
the Company's net present value. The total proved plus probable reserve life
index of the Company as of March 31, 2007 is approximately six (6) years.
Company Gross Reserves are the total of the Company's working interest share
before the deduction of royalties. Net reserves are the total of the Company's
working interest reserves after deducting amounts attributable to royalties
owned by others. The summary of the GLJ Report is available for public viewing
on SEDAR at www.sedar.com.


Results of Operations for March 31, 2007 Year End

With respect to its financial results for the year ended March 31, 2007, the
Company is pleased to report that it generated positive cash flow from
operations (before non-cash working capital changes) of $2.8 million during the
fiscal year. The Company increased revenues from $46,818 in the previous year to
$7,020,421 in the current fiscal year. During the year, the Company completed a
capital program which expanded its Clear Prairie operations to include two new
wells, re-completion of three wells and the installation of compression and
pipeline facilities. The Company exited the year with average daily production
of 598 BOED. The Company incurred a loss for the year of $8,767,561 as a result
of increased costs in actively exploiting and expanding its production
facilities on its Clear Prairie oil and gas properties, a write-off of goodwill
in the amount of $6,790,800 in the fourth quarter, higher G&A expenses and stock
based compensation of $1,215,198.


Results of Operations for Quarter Ended June 30, 2007

In the three month period ended June 30, 2007, the Company recorded petroleum
and natural gas sales of $1,674,322, an increase of 33% from the first quarter
of the previous year. The Company generated positive cash flow from operations
(before non-cash working capital changes) in the quarter of $694,086 compared to
$425,662 in the previous year. At the end of the quarter, the Company had a debt
and working capital deficit of $8,262,209 and $462,369 in un-drawn credit
facilities. The Company exited the quarter with total average daily sales of 581
BOED. The Company anticipates that funds from operations and its un-drawn credit
facilities will be more than adequate to fund its principal operating
requirements.


Corporate Developments

As previously announced, in July, 2007, the Company completed a number of
corporate changes. Three directors who previously served as officers and
directors of the Company and one independent director resigned. The four
directors were replaced by four new independent directors, David M. Thomas,
Stewart Olley and William E. Patterson of Calgary and Michael Guichon of
Vancouver. The newly formed Board of Directors, which retained previous
directors Brian D. Fraser (Chairman and Chief Executive Officer) and Peter
Guichon, both of Vancouver, appointed new officers David M. Thomas as President
and Chief Operating Officer and William E. Patterson as Chief Financial Officer.
The new Board and management team have initiated a review of all operations on
the Company's Clear Prairie property in order to reduce operating costs and
maximize production.


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 contains 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.


16,667,140 Common Shares