Core Properties

Clear Prairie-Boundary Lake

• Located on the north side of the Peace River Arch, Canext holds an average working interest of 61% in approximately 57,000 gross (35,000 net) acres of land. Canext is focusing on the development and exploration of Triassic oil and gas bearing formations at depths less than 1,400 meters.

Sweeney

• Canext holds an average working interest of 66% in 7,040 gross acres of land across the prospect. As of Q1 2009, two pools have been discovered on the Sweeney property. Six wells have been drilled to date targeting an oil pool which is estimated to have Discovered Petroleum Initially In Place of between 20 and 40 million barrels. PIIP is Petroleum Initially In Place, previously referred to as OOIP or Original Oil In Place.
  Discovered Resources are defined as the quantity of hydrocarbons that are estimated to be contained in a known accumulation. Discovered Resources are divided into economic and uneconomic portions, with the estimated future recoverable portion classified as reserves and contingent resources. There is no certainty that it will be economically feasible to produce any portion of the Discovered Resource. Additional drilling and testing will be required to confirm estimates of reserves.
  

Pouce Coupe-Gordondale

• Canext has an interest in over 30,000 gross acres of land proximal to the large Dawson and Pouce Coupe Montney-Doig gas pools. The company has an average working interest of 39% on the lands and is focusing on the development of the large gas-in-place resources within several prospective Montney and Doig producing zones. Additional development and exploration opportunities have been identified within other zones on and adjacent to company held lands. The area is predominately accessible to year round drilling.