Junex Inc. announced that it has earned a 50% working interest in the interval from the surface to the base of the Utica Formation in the Nicolet permit, which covers 54,363 acres and is located in the heart of the St. Lawrence Lowlands Utica play. Junex earned this working interest in the Nicolet property by drilling two wells on the Nicolet property to the base of the Utica Formation, of which the St-Gregoire #2 well was the second earning well. Prior to the drilling of this well, Junex completed a seismic survey of approximately 14 line-kilometres to position the well proximal to and on the downthrown side of the Yamaska Fault Zone. This well was drilled to total depth of 1,619 meters and a total of 42.6 meters of cores was cut in the Utica Shale. These cores were conserved by and sent to CBM Solutions for laboratory analysis. The St-Gregoire #2 well also encountered significant natural gas shows with overpressure in lower sections of the wellbore, necessitating the installation and cementing of 7 inch diameter intermediate casing in the well. The Utica Formation is approximately 247 metres thick in the well and isotopic analysis of the gas indicates that it is thermogenic in origin.

Junex Inc. announced that the Haldimand Project Operator, Petrolia, has completed the drilling of the Haldimand No. 2 well at a total depth of 1,200 meters. According to the Operator of the project, light oil shows were observed in drill cuttings samples (fluorescence sometimes accompanied by oil shows) over the interval from 746 meters to the total depth of the well. The Ooperator has carried out 4 drillstem tests (DST). In Junex's opinion, DST #3, from 909.9 to 944.1 metres, seems to have identified a hydrocarbon-bearing interval that may justify further testing. In view of these results, the project Operator has installed production casing down to the total depth of 1,200 meters. The operator has indicated that it plans to mobilize a service rig in the near future to proceed with production testing at the well. Junex has not financially participated in the drilling of the Haldimand No. 2 well but still holds a 35% interest in this project covering an area of 9 km2. DST #1 from 715 to 763 meters recorded an initial gas flow of approximately 1,000 cubic feet per day (mcf/d) (28.5 m3/d) after 20 minutes, a maximum flow rate of approximately 1.8 mcf/d (50.7 m3/d) after 40 minutes, decreasing to a gas flow rate of approximately 1.4 mcf/d (40.3 m3/d) after 90 minutes. A total of 8 meters of drilling fluid was recovered. DST #2, carried out from 1,099.1 to 1,131.2 meters, recovered 23.5 meters of drilling mud without any notable presence of hydrocarbons. During DST #3, from 909.9 to 944.1 meters, an initial gas flow rate of approximately 116 mcf/d (3,288 m3/d) after 5 minutes was recorded and a final gas flow rate of approximately 15 mcf/d (419.8 m3/d) after 60 minutes was observed. A total of 61.2 meters of slightly oil cut drilling mud was recovered. This interval also covered the cored interval from 923 to 932 meters, where an interval of thick sandstone, cut by 2 subvertical fractures, was observed. The project Operator has sent this core to a Calgary laboratory for analysis. Finally, during DST #4, carried out between the depths of 848.6 to 882.9 meters, an initial gas flow rate of approximately 53 mcf/d (1,493 m3/d) was recorded and a final gas flow rate of approximately 2.4 mcf/d (67.3 m3/d) after 60 minutes was observed. A total of 29 meters of drilling mud was recovered.

Junex Inc. has been notified by its partner Petrolia that the Haldimand No. 2 well, in which Junex holds a 35.4% working interest, was spudded on September 18, 2009. 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.