Nexstar Energy Provides Operations Update

Nexstar Energy Ltd. ("Nexstar Energy" or the "Company") (TSX VENTURE:NXE.A) (TSX
VENTURE:NXE.B) announces that the Company's third Cardium horizontal well in the
East Pembina area of central Alberta was tied in to production facilities on
October 2, 2009. The well is presently recovering frac fluids injected during
completion operations and further information from this new well will be
provided within 30 days. The Company also advises that drilling operations on
the fourth well at East Pembina have been successful and the well is expected to
be completed and tested within two weeks. The Company presently has a 20.68%
working interest in this well and may increase its working interest to 31.82%
within 30 days, subject to paying an equivalent share of the costs of the well.
The first two East Pembina horizontal wells are currently producing at a
combined gross rate of approximately 250 barrels of oil per day (80 barrels per
day net) with minimal solution gas and no water.


In the month of October, the Company plans to participate in the drilling of two
additional horizontal wells which include a development well at East Pembina and
the Company's first well in the West Pembina area. Nexstar Energy will be
participating for a 31.82% working interest and a 25% working interest,
respectively, in these new wells. Both of these wells will qualify for the
Alberta Drilling Royalty Credit and the Alberta New Well Royalty Reduction
programs.


The Company currently holds approximately 10,000 gross acres (3,817 net acres)
of undeveloped Cardium lands in the Pembina area and an inventory in excess of
45 Cardium light oil drilling locations with working interests varying between
20% and 100%.


Nexstar Energy to Present at the CEEPIC Conference

Nexstar Energy also announces that it will be presenting at the Canadian Energy
Explorers & Producers Investment Conference ("CEEPIC") commencing at 10:00 am
(EST) on Wednesday, October 7, 2009. The Company will be providing an updated
Corporate Presentation on its website on Wednesday, October 7, 2009. A link to
the Company's presentation for the CEEPIC conference may be found at
http://www.newswire.ca/en/webcast/pages/en/ceepic20091007/.


Highlights of the Company's updated Corporate Presentation include:

- Planned drilling of five (5) additional Pembina horizontal oil wells (1.39
net) in Q4.


- Capital Budget of $3.3 million in Q4.

- Capital funded through credit facilities, warrant proceeds and internally
generated cash flow.


- Credit facilities doubled to $4 million in September 2009 and currently less
than 50% drawn.


- Warrant proceeds of $995,000 anticipated prior to the end of November.

- Cash flow from field operations in Q4 estimated by management to be $875,000.

- Management also estimates average production of 200 Boe/d in Q4 and an exit
rate of 300 Boe/d for December, 2009, subject to the timely drilling, completion
and equipping of the planned wells.


The Company also advises that a further 2,843,000 Class A Shares have recently
been issued as a result of the exercise of warrants issued pursuant to a Private
Placement that closed on November 21, 2008.


About Nexstar Energy

Nexstar Energy is an emerging junior oil and gas company focused on the drilling
and development of its Cardium light oil prospects in the Pembina area of west
central Alberta.


Reader Advisory

This news release may contain certain forward-looking statements, which include
assumptions with respect to (i) production; (ii) future capital expenditures;
(iii) funds from operations; (iv) cash flow; and (v) debt levels. The reader is
cautioned that assumptions used in the preparation of such information may prove
to be incorrect. All such forward-looking statements 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 natural 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 and the United States, 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, what benefits, including the amount of proceeds, 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.


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.


94,911,169 Class A Shares

1,080,000 Class B Shares