NXE.B Nexstar Energy Ltd Com Npv Class b

Nexstar Energy Ltd. ("Nexstar Energy" or the "Company") (TSX VENTURE:NXE.A) (TSX
VENTURE:NXE.B) announces that production testing of its third Cardium horizontal
well in the Pembina area of central Alberta has now been finalized. Initial test
data received from the 100/16-13-047-03W5M well indicates that well performance
is anticipated to be similar to the Company's other producing horizontal Cardium
oil wells in the immediate area. The new 16-13 well is presently shut-in for
pressure build-up and will be equipped for oil production within two weeks.
Nexstar Energy participated for a 31.82% working interest in the costs of this
well to earn an equivalent working interest before payout and a 20.68% working
interest after payout.


The Company also reports that its discovery well located at 100/1-25-047-03W5M,
produced to date a total of approximately 32,480 barrels of light oil, 13.8 mmcf
of solution gas and no water, after 217 days of production. The follow-up well
located at 100/16-19-047-02W5M, produced to date approximately 10,360 barrels of
oil, 2.3 mmcf of solution gas and no water, after 45 days of production.


The Company currently holds 8,320 gross acres (2,633 net acres) of undeveloped
Cardium lands in the Pembina area and an inventory in excess of 40 Cardium light
oil drilling locations with working interests varying between 20% and 60%.
Drilling operations for the fourth Cardium horizontal well commenced on
September 19, 2009 with the fifth well in the Company's program expected to spud
by mid-October.


Bank Facilities Expanded

Nexstar Energy also announces that it has entered into expanded credit
facilities (the "Credit Facilities") with a Canadian Chartered Bank. The
expanded Credit Facilities provide for a revolving operating demand loan of up
to $3.0 million and an acquisition/development demand loan of up to $1.0
million. The proceeds from the expanded Credit Facilities will be used to fund
the ongoing development of the Company's oil properties and for general
corporate purposes.


The Company also advises that a further 1,615,000 Class A Shares have recently
been issued as a result of the exercise of warrants issued pursuant to a Private
Placement that closed on November 21, 2008.


About Nexstar Energy

Nexstar Energy is an emerging junior oil and gas company focused on the drilling
and development of its Cardium light oil prospects in the Pembina area of west
central Alberta.


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.


Boes may be misleading, particularly if used in isolation. A boe conversion
ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


92,368,169 Class A Shares

1,080,000 Class B Shares

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