Nexstar Energy Announces Second Quarter Financial Results, Private Placement and Annual Meeting

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.

Nexstar Energy Ltd. ("Nexstar Energy" or the "Company") (TSX VENTURE:NXE.A) (TSX
VENTURE:NXE.B) announces that its second quarter interim unaudited financial
statements will be filed today on SEDAR at www.sedar.com and will also be posted
on the Company's website at www.nexstar-energy.com.


The Company is also pleased to announce that, subject to regulatory approval, it
is proceeding with a non-brokered private placement on a best-efforts basis (the
"Private Placement") of a minimum of 4,000 Units ($4.0 Million) and a maximum of
5,000 Units ($5.0 Million). Each Unit will be priced at $1,000 and will be
comprised of a $1,000 Convertible Debenture providing a 2% annual interest rate
and 20,000 Purchase Warrants to acquire Flow-Through Class A Shares of the
Company (the "Class A Warrants"). Each $1,000 Debenture will mature on September
30, 2010 and will be convertible at the option of the holder at any time prior
to maturity into 20,000 Class A Shares of the Company. Each full Class A Warrant
will be exercisable for one Class A Share of the Company at a price of $0.10 per
share until December 31, 2010. The Units are being sold to provide the Company
with working capital, for debt reduction, for land acquisitions and for
exploration and development drilling in the Company's core areas. The closing of
the Private Placement is expected to take place on or before September 30, 2008.
All securities issued pursuant to the Private Placement will be subject to a
four month hold pursuant to applicable securities legislation. The Company has
agreed to pay finders fees on the Private Placement proceeds, which include a 1%
reorganization fee, 8% on retail orders, 5% on fund orders and 6.5% broker
warrants, which are convertible into Class A Shares of the Company.


The Company is also pleased to announce that the Annual and Special Meeting of
Shareholders of the Company (the "Meeting") will be held on Wednesday, September
24, 2008 at 2:00 p.m. (Calgary time) at the offices of Burstall Winger LLP,
located at 1600, 333 - 7th Avenue SW, Calgary, Alberta. The Record Date for the
Meeting is Monday, August 25, 2008 and the Notice of the Meeting and
accompanying Information Circular detailing the information with respect to the
Meeting matters, were mailed to the Company's shareholders on August 28, 2008.


About Nexstar Energy

Nexstar Energy is a junior oil and gas company that is focused on drilling
multi-zone crude oil and natural gas prospects in western Canada, complemented
by strategic acquisitions.


This document contains forward-looking information that is based on expectations
and estimates as of the date of this document. This forward-looking information
is information that is subject to known and unknown risks and other factors that
may cause future actions, conditions or events to differ materially from the
anticipated actions, conditions or events expressed or implied by such
forward-looking information. Forward-looking information is information that
does not relate strictly to historical or current facts, and can be identified
by the use of the future tense or other forward-looking words such as
"proposed", "believe", "expect", "anticipate", "intend", "plan", "estimate",
"should", "may", "objective", "projection", "forecast", "continue", "strategy",
"position" or the negative of those terms or other variations of them or
comparable terminology. Examples of such forward-looking information in this
document include but are not limited to the following, each of which is subject
to significant risks and uncertainties and is based on a number of assumptions
which may prove to be incorrect. The Company will be required to secure
financing in order to participate in the projects referenced in this document
and there is no assurance that the Company will be able to secure such
financing. This forward-looking information represents the Company's views as of
the date of this document and such information should not be relied upon as
representing the Company's views as of any date subsequent to the date of this
document. The Company has attempted to identify important factors that could
cause actual results, performance or achievements to vary from those current
expectations or estimates expressed or implied by the forward-looking
information. However, there may be other factors that cause results, performance
or achievements not to be as expected or estimated and that could cause actual
results, performance or achievements to differ materially from current
expectations. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those expected or estimated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. These
factors are not intended to represent a complete list of factors that could
affect the Company. Boes may be misleading, particularly if used in isolation. A
boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead.


12,621,342 Class A Shares

1,080,000 Class B Shares