Junex Completes Champlain #2 Well and Seismic Survey in Becancour

Junex has completed the Champlain #2 well to a total depth of 930 meters. The well has met indications of natural gas in the Shales of the Lorraine and Utica formations as well as in the limestones of the Trenton / Black-River group. The geological evaluation and the analyses performed on the well have permitted to demonstrate that the hydrocarbon saturated zone was over 150 meters thick. However, the well did not encounter any reservoir zone sufficiently developed to allow for a commercial production of natural gas.

In view of these results, Junex has recently completed a 27.9 km seismic program north of the Champlain #2 well. This seismic survey added to the two wells completed and a high-resolution aeromagnetic survey performed earlier this year; complete the 2007 exploration program on the Champlain project. The objective of this survey is to locate drilling targets in the shallower ordovician units (approximately 500 to 700 meters) and in favorable position for a "gas cap" discovery.

Seismic survey in Becancour

Junex has also completed a 39.3 km seismic survey in the region of Becancour. The objective of this survey is to define, in the Trenton / Black-River limestones, drilling targets similar to the one which led to the natural gas discovery at the Gentilly #1 well drilled by Questerre Energy and Talisman Energy. Junex owns the permits adjoining Gentilly's permits and plans to drill two (2) wells in that area in 2008.