Nexstar Energy Provides Update on Pembina Cardium Horizontal Wells

Nexstar Energy Ltd. (TSX VENTURE:NXE.A) (TSX VENTURE:NXE.B) ("Nexstar Energy" or
the "Company") is pleased to report on developments with respect to its Cardium
horizontal light oil exploration and development program in the Pembina area of
west central Alberta. The Company has an inventory in excess of 40 Cardium
horizontal drilling locations for future development. To date, the Company has
participated in the drilling of 8 Pembina Cardium horizontal wells, all of which
are expected to be on production in January, 2010. 


West Pembina

The Company is also pleased to provide the initial test results from its
8-16-48-5 W5M Pembina Cardium horizontal oil well. The 8-16 well (0.25 net) is
the first horizontal well drilled on the Company's West Pembina prospect lands.
This well was drilled to a horizontal length of approximately 1,114 meters and
was completed with an 11 stage frac treatment. During a three day test, the 8-16
well flowed frac oil and new oil at a controlled rate of approximately 850
bbls/day. Management expects the well to be placed on production within 30 days
at an initial rate of between 200 to 300 bbls/day, which is similar to other
Cardium horizontal oil wells in the Pembina area. Based on these results, the
Company plans to participate in the drilling of up to four additional wells (1.0
net) offsetting this well in the first quarter of 2010. The first follow-up
drilling location (0.25 net) has been licensed at 16-15-48-5 W5M for drilling in
January, 2010. 


East Pembina

The Company also announces that it is currently participating in the drilling of
a Cardium horizontal development well (0.50 net) located at 8-3-48-3 W5M in the
East Pembina area. This well commenced drilling on November 29, 2009 and is
adjacent to several producing Cardium horizontal wells owned by third parties.
As previously reported, the Company also has interests in four producing Cardium
horizontal wells at East Pembina which are currently producing approximately 191
boepd net to the Company with two more wells (0.63 net) being tested and
completed. Of the seven (7) East Pembina wells reported by the Company, six (6)
are anticipated to be on production prior to year end. 


Conversion of Class B Shares

The Company also announces, as previously reported, that the Class B Shares of
the Company are being converted into Class A Shares effective December 11, 2009.
Notices have been sent to all holders of Class B Shares with respect to the
conversion. The Class B Shares will be delisted from trading on the TSX Venture
Exchange at the close of market today. As previously announced, registered
holders of Class B Shares are requested to deliver share certificates for Class
B Shares to Olympia Trust Company ("Olympia") either by courier, registered mail
or direct delivery and Olympia will deliver the new Class A Shares by first
class mail. Shareholders registered with a brokerage or investment house, need
not take any action as the Class A Shares will be issued automatically through
the CDS system on December 11, 2009.


About Nexstar Energy

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


For further information, please go to Nexstar Energy's updated website.

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. 


The terms bbls, bbls/d, boe, boes or boes/d may be misleading, particularly if
used in isolation. A boe (barrel of oil equivalent) conversion ratio 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.


110,811,169 Class A Shares

1,080,000 Class B Shares