Nexstar Energy Provides Operations and Corporate Update

Nexstar Energy Ltd. ("Nexstar Energy" or the "Company") (TSX VENTURE:NXE.A) (TSX
VENTURE:NXE.B) announces that production testing of its second Cardium
horizontal well in the Pembina area of central Alberta has been finalized. The
well is currently shut-in for pressure build-up and is being tied-in for
production. In its initial 182 hours of production testing, the well recovered a
total of 3,991 barrels of injected frac fluids, 1,483 barrels of oil, 951
thousand cubic feet of solution gas and no water.


Conversion of Debentures

The Company also announces that the TSX Venture Exchange has conditionally
approved the conversion of all Convertible Debentures (the "Debentures") issued
pursuant to a Private Placement that closed on November 21, 2008, to Class A
Shares of the Company, in accordance with the terms of the Indenture governing
the Debentures. Notices regarding the conversion have been mailed to all
Debenture holders. The revised effective date of the conversion is now
anticipated to be on or about August 12, 2009 and conversion of the Debentures
will result in the issuance of 53,200,000 Class A Shares of the Company.


About Nexstar Energy

Nexstar Energy is a newly reorganized junior oil and gas company that is 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.


36,853,169 Class A Shares

1,080,000 Class B Shares