Junex inc.

The Vision and Audacity of Pioneers

Profile and History

Junex was created in 1999 by Mr. Jean-Yves Lavoie, petroleum engineer, who was then president of Ressources naturelles Jaltin and of Foragaz, and by Me Jacques Aubert, former senior executive of Cascades and former president of SOQUIP, with the objective of exploring Québec’s oil and gas potential.

The company now has forty employees and it holds exploration licences totalling more than 3 million net acres in three large sedimentary basins in Quebec: the Saint Lawrence Lowlands, the Appalachians and the Gaspé peninsula.

Mainly active in oil exploration, Junex holds exploration licenses on the southern portion of Anticosti Island and on the Galt property, located in the Galt Township on the Gaspé Peninsula.  An independent evaluation performed in 2011 indicates significant Oil-Initially-In-Place (OIIP) resource potential of  12.2 billion barrels in the Macasty Formation (Utica-equivalent ) on Anticosti (1). With respect to the Galt Project, where exploration is much more advanced, the potential is evaluated at 557 million barrels of Oil-Initially-in-Place (1).

Also involved in the Utica Shale gas exploration since 2008, Junex holds nearly 30% of all the exploration permits the St. Lawrence Lowlands situated between Quebec City and Montreal. The latest independent evaluation of resources on Junex’s acreage in the Lowlands places the potentially recoverable portion (Prospective Resources) at 3.5 trillion cubic feet (TCF) of natural gas (1) .

Incorporated with a starting capital of $500,000, the company is today listed in the TSX stock exchange under the symbol JNX and has a market capitalization of approximately $50 million. In addition to leading a rigorous and systematic exploration strategy, Junex has also adopted a strict management of its share capital that includes minimizing dilution of ownership. As of December 31, 2015, Junex holds a total of 79,543,076 issued shares in circulation, amongst which about 22% are held by insiders or their affiliates.

Junex’s goal is to develop the extraordinary potential of its licences while minimizing the dilution of its shareholders. This is why Junex has established a partnership strategy which will continue in future years. As a Québec company, it is important for Junex that its projects generate economic benefits and local employment for the Québec community.

(1) Independent Evaluation by Netherland, Sewell & Associates, Inc

A potential of 20,050,000 barrels of recoverable oil resources ~40 employees in Quebec A potential of 3.5 TCF of natural gas in unrisked prospective resources $65 M invested in our exploration projects