CXZ Canext Energy Ltd

Canext Energy Ltd. ("Canext" or the "Company") (TSX VENTURE:CXZ) has sold its
interest in certain natural gas wells and undeveloped lands in the Worsley area.
The transaction was effective April 1, 2009 and closed on May 29, 2009. The
Company received gross proceeds of $3,000,000. Current production associated
with the wells is 190 boe/d. Based on the year end reserve report updated to
April 1 for production, the Proved and Proved plus Probable Reserves associated
with the assets being sold are 83,000 and 137,000 boe respectively. 


The proceeds will be used initially to pay down bank debt and then to expand the
Sweeney oil development drilling program.


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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