Junex

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 5,190,524 net acres in three large sedimentary basins in Quebec: the Saint Lawrence Lowlands, the Appalachians and the Gaspé peninsula.

According to Netherland, Sewell & Associates, Inc ("NSAI"), an independent reservoir engineering firm based in Texas, Junex holds unrisked, potentially recoverable natural gas resources of 3.7 trillion cubic feet (TCF) on its Utica Shale licences. Furthermore, NSAI estimates Junex's net share of the total Recoverable Oil Resource Volume on its Galt property on the Gaspé peninsula at 13.75 million barrels.

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, 2010, Junex holds a total of 61,207,071 issued shares in circulation, amongst which about 30% 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.