NXE.B Nexstar Energy Ltd Com Npv Class b

Nexstar Energy Ltd. ("Nexstar" or the "Company") (TSX VENTURE:NXE.A) (TSX
VENTURE:NXE.B) announces that field operations are expected to commence on June
11, 2009 for the drilling of the second horizontal Cardium well operated by
Bonterra Oil and Gas Ltd. in the Pembina area of west central Alberta. The
Company will be participating for a 32.18% working interest in the costs of this
well to earn an equivalent interest before payout and a 20.68% working interest
after payout.


Warrant Purchase

The Company also advises that it has completed the purchase of 20,300,000 share
purchase warrants to acquire Class A Shares of the Company at a price of $0.05
per share for consideration of $0.001 per warrant. These warrants have now been
returned to treasury and cancelled. 


Private Placement

The Company also announces a private placement of up to $1,000,000 (the
"Offering"), comprised of Class A Shares of the Company ("Class A Shares")
issued at a price of $0.075 per Class A Share. The Company intends to complete
the first closing of the Offering on or before June 11, 2009. The Company has
firm commitments in excess of $600,000 for the first closing and anticipates
completing the second closing before the end of June, 2009. The Class A Shares
to be issued are subject to a four month hold and final approval by the TSX
Venture Exchange. The funds from the Offering will be utilized by the Company on
the continued exploration and development of the Company's petroleum properties.


New Director

The Company also announces the appointment of Dean Prodan, President of UTA
Asset Management Corporation to the Company's Board of Directors. 


About Nexstar Energy

Nexstar Energy is a newly reorganized junior oil and gas company that is focused
on drilling multi-zone oil and natural gas prospects in western Canada,
complemented by strategic acquisitions. 


Reader Advisory

This news release may contain certain forward-looking statements, which include
assumptions with respect to (i) production; (ii) future capital expenditures;
(iii) funds from operations; (iv) cash flow; and (v) debt levels. The reader is
cautioned that assumptions used in the preparation of such information may prove
to be incorrect. All such forward-looking statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond the Company's
control. Such risks and uncertainties include, without limitation, risks
associated with oil and natural gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to retain
drilling rigs and other services, delays resulting from or inability to obtain
required regulatory approvals and ability to access sufficient capital from
internal and external sources, the impact of general economic conditions in
Canada and the United States, industry conditions, changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
foreign exchange or interest rates, stock market volatility and market
valuations of companies with respect to announced transactions and the final
valuations thereof, and obtaining required approvals of regulatory authorities.
The Company's actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any
of them do, what benefits, including the amount of proceeds, the Company will
derive therefrom. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Furthermore, the
forward-looking statements contained in this news release are made as at the
date of this news release and the Company does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.


Disclosure provided herein in respect of barrel(s) of oil equivalent (boe) may
be misleading, particularly if used in isolation. A boe conversion ratio of 6
mcf:1 barrel is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


28,632,869 Class A Shares

1,080,000 Class B Shares

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