PRESS RELEASE
��������������������������������������������������������������������������������������� For immediate distribution
JUNEX IS GETTING BACK 100% INTEREST IN 700,000 ACRES OF LAND WITH
SHALE GAS POTENTIAL
February
5, 2008 ? Qu?bec (Qu?bec) // Junex Inc. (JNX - TSXV) announced
today the signature of an agreement in order to terminate its Exploration
Partnership with AMQUE U.L.C., which means that Junex is getting back 100%
interest in 5 different blocks of permits located in the St. Lawrence
Lowlands. These permits, for which the main geological targets are the Utica
Shales and the Trenton/Black-River, are spanning over an area of more than 700,000 acres.
Junex and AMQUE U.L.C. had contracted the
Exploration Partnership in July 2006. Since AMQUE U.L.C. failed to meet its
minimum investment commitment, the parties terminated the Joint Venture and, in
the context of this Termination agreement, Junex has received a financial
compensation from AMQUE. Junex also kept an Overriding Royalties Interest of
1.5% in 1.8 million acres of land previously held by AMQUE and recently sold to
Molopo Australia Limited.
?We are pleased to get back all the lands which
were part of the deal with AMQUE and we are also pleased with the arrival of
Molopo Australia Limited in Quebec. We believe
that Molopo?s expertise will enable them to accelerate
the development of the Shale gas potential in the 1.8 million acres block of
land in which we hold a 1.5% ORRI. We already have another active partnership
with a Large US-based Independent producer in order to evaluate the Shale gas
potential in Quebec
and we now believe that we will be able to sign new favorable partnership
agreements on these 700,000
acres of land we are getting back today? noted Junex?s
president, Mr. Jean-Yves
Lavoie, P. Eng.��
�
�About Junex
Junex holds exploration rights on more than 6 million acres of land
located in the Appalachian basin in the province
of Qu?bec.� Recent major discoveries in the United
States and Eastern Canada have
stimulated exploration in Qu?bec, which is located in a favourable geological
setting for oil and gas discovery.�
Junex?s strategy is to reduce exploration risks by entering into
partnerships with other exploration companies.�
In parallel to its exploration efforts, Junex?s goal is to achieve
positive cash flows from its natural brine and drillings services
operations.� Junex also holds
approximately a 9.4% interest in Petrolia (PEA : TSXV) and a 2.2%
interest in Gastem (GMR : TSXV).
The
TSX Venture Exchange has neither approved nor disapproved the information
contained herein.
For further information at Junex:
Mr. Jean-Yves Lavoie������������������������������������������������������������������������������� Mr.
Dave P?pin
President����������������������������������������������������������������������������������������� Corporate
Affairs
418-654-9661���������������������������������������������������������������������������������� 418-654-9661