Nexstar Energy Ltd.: Exploration Update- Goodwin Area

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 completion and testing operations on the LSD
16-16-58-12W5M well at Goodwin have been temporarily suspended. This 2100 metre
exploratory well encountered structure and reservoir in several prospective
horizons and based on the analysis of well log data, the well was completed in
the Banff, Pekisko and Nordegg formations. Completion results from the Banff and
Pekisko formations were unsuccessful. The Nordegg formation was subsequently
perforated, fraced and swab tested over three intervals with testing results to
date indicating reservoir potential and oil shows but with a high water cut. An
analysis of the completion data from the Nordegg formation will be conducted
over the next few weeks after which the Company plans to re-commence testing and
completion operations or will abandon the well.


At South Whitecourt, in the same area, the Company has commenced
location-specific site assessment work towards the licencing and drilling of a
high-impact oil and natural gas prospect indicated with 3-D seismic. Given the
possibility of encountering natural gas with a component of hydrogen sulfide in
the prospective horizons in the test well, Company activity has focused on the
collection of the data required to submit a pre-determination request to the
Alberta Energy Resources Conservation Board in advance of a well licence
application. A suitable surface location for the wellsite has been selected
based on local access conditions. The Company currently holds a 33.34% working
interest in 4480 gross acres on the South Whitecourt high-impact prospect and is
the operator.


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


For further information, please review Nexstar Energy's website.

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.


Boe's 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.


9,930,000 Class A Shares

1,080,000 Class B Shares