CXZ Canext Energy Ltd

Canext Energy Ltd. ("Canext" or the "Company") (TSX VENTURE:CXZ) is pleased to
announce it has purchased the working interests of two partners at Pouce Coupe
for $1,100,000. The acquired properties include 15 boepd net production and 0.55
net sections of Montney rights. As a result of the purchase, the Company has
increased its interest from 50% to 77.5% on a horizontal well it is currently
drilling on the acquired acreage. The well will be completed with multiple fracs
into the Upper Montney. Additional prospects have been identified on the
acquired lands and 3D seismic is being shot to further evaluate these
opportunities.


Canext has successfully drilled and cased a Montney vertical step out well (50%
WI) at Pouce Coupe. The well encountered approximately 30 m of 8% porosity in
the Upper and Lower Montney. Completion and testing operations are currently
underway.


Canext also participated (24% WI) in a non-operated Montney recompletion. The
well successfully tested gas 3 miles from the closest previously known producer.
The well is expected to be tied in shortly as a low rate vertical producer.
Additional zones in the well may be recompleted later in the year. Canext is
planning a 100% WI offset well targeting the Upper and Lower Montney. The well
is expected to spud late August and will be deepened to include an evaluation of
the Kiskatinaw which produces in offset wells. Drilling operations have also
commenced on a non operated (25% WI) Lower Montney horizontal re-entry at Pouce
Coupe.


The Company has completed upgrading the surface lease and access road to its
Sweeney oil discovery. A drilling rig has been contracted to drill two (1.2 net)
wells and operations should commence this week. The wells are being drilled as
quarter section step outs to the discovery well. Additional drilling at Sweeney
and Clear Prairie is planned for the fourth quarter.


Canext expects to release its second quarter financial statements and a further
update on activities on or about August 25th.


Reader advisory:

The term "BOE" may be misleading, particularly if used in isolation. In
accordance with NI 51-101, a BOE conversion ratio for natural gas of 6 mscf: 1
bbl has been used which is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


Investors are cautioned that the preceding statement of the Company may include
certain estimates, assumptions and other forward-looking information. The actual
future performance, developments and/or results of the Company may differ
materially from any or all of the forward-looking statements, which include
current expectations, estimates and projections, in all or part attributable to
general economic conditions and other risks, uncertainties and circumstances
partly or totally outside the control of the Company, including natural gas/oil
prices, reserve estimates, drilling risks, future production of gas and oil,
rates of inflation, changes in future costs and expenses related to the
activities involving the exploration, development and production of gas and oil
hedging, financing availability and other risks related to financial activities.

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