JUNEX’S PARTNER SPUDDED HALDIMAND #2
WELL
Québec, September 18, 2009// Junex (JNX : TSXV) has
been notified by its partner Petrolia that the Haldimand No.
2 well, in which
Junex holds a 35.4% working interest, was spudded today.
According to the
interpretation of the 3D seismic acquired in 2008, the well is expected to be
drilled to a total depth of approximately 1,170 meters with the
main objective of reaching, in a more favourable structural position, the same
intervals that produced oil in the Halimand No.
1 well.
If the Haldimand No.
2 well is drilled according to the
current budget and cost estimate, then Junex will maintain, without having
financially participated in the drilling of the well, an interest of 35.4% in
the overall Haldimand Project (9 km²), including both wells No.
1 and No.
2.
Furthermore, Junex is the operator and still holds a 50% interest in a strip of
permits covering 30 km² and linking together the Galt (JNX: 50%) and Haldimand
projects.
About Junex
Junex is a junior oil and gas exploration company that
holds exploration rights on more than 6 million acres of land located in the
Appalachian basin in the Province of Quebec.
The company is in the heart of the
Utica Shale gas discovery located in the Ste Lawrence Lowlands.
As of December
31 2008, Junex has a working capital of 28 million dollars.
Junex also owns
approximately 7.9% of the issued and outstanding shares of Petrolia (TSXV : PEA) and 1.0% of the
issued and outstanding shares of Gastem (TSXV : GMR).
In parallel to its exploration efforts,
Junex"s goal is to achieve positive cash flows from its natural brine and
drilling services operations.
Forward looking statements
This news release contains certain forward-looking
statements.
These statements relate to future events or future economic
performance of Junex and carry risks, uncertainties and other factors – both
known and unknown – that may appreciably affect their respective results,
economic performance or accomplishments when considered in light of the content
or implications of statements made by Junex.
Actual events or results could be
significantly different.
Accordingly, investors should not place undue reliance
on forward-looking statements.
Junex do not intend and undertake no obligation,
to update these forward-looking statements.
The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this
release.
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For information
about Junex:
Mr.
Jean-Yves Lavoie
President
418-654-9661
|
Mr.
Dave Pépin
Vice President – Corporate
Affairs
418-654-9661
|