Junex nears completion of Galt No. 4 cleanup
Ticker Symbol: C:JNX

Junex nears completion of Galt No. 4 cleanup

Junex Inc (C:JNX)
Shares Issued 66,194,928
Last Close 12/18/2014 $0.39
Friday December 19 2014 - News Release

Mr.. Peter Dorrins reports

UPDATE ON OPERATIONS AT JUNEX'S GALT NO. 4 HORIZONTAL WELL

Junex Inc. is nearing the end of its swabbing/well cleanup operations at its Galt No. 4 horizontal well that it performed in preparation for oil production testing that is planned for January, 2015.

These swabbing/well cleanup operations were performed to remove the maximum volume of drilling fluids that were remaining in the wellbore in order to permit the entry of oil from the Forillon oil reservoir into the well.

Junex will be installing the downhole portion of the oilfield pump and related equipment in the well in the next few days. Industry specialists from Houston will be on location in early January 2015 to install of the surface pumping equipment, after which the final well cleanup operations will be completed. Once these are completed, Junex will then commence oil production testing operations in the well.

To date, a total volume of approximately 101 barrels (16.4 m3) of light oil has been recovered from the swabbing/well cleanup operations. Representative samples of this oil have been sent to accredited laboratories for analysis.

As mentioned in Junex's last press release, this discovery well was horizontally drilled from the existing Galt No. 4 Vertical wellbore to a total measured depth of 2,400 meters, of which 1,503 meters was drilled within the oil reservoir. Numerous significant oil shows associated with fracture porosity recorded during drilling and results from downhole well logging clearly indicate that the oil reservoir is intensely fractured. The well log data also indicates that the Galt No. 4 Horizontal well intersected the near-vertical fractures at an optimum angle of approximately 90 degrees, as forecast in the original well design.

Junex holds a 70% interest in the Galt Oil Property, with Junex's partner, Mr. Bernard Lemaire, holding the remaining 30% interest. Junex holds 100% interest in the adjacent acreage. The adjacent 100% Junex acreage has not yet been independently evaluated for its resource potential. These landholdings are situated approximately 20 kilometers from the town of Gaspe in eastern Quebec.

Netherland, Sewell & Associates, Inc., ("NSAI"), a firm of worldwide petroleum consultants based in Texas, has previously established their Best Estimate of the total Oil-Initially-In-Place ("OIIP") resources for the Forillon and Indian Point formations on the Galt Oil Property at 330 million barrels that includes Discovered Contingent OIIP volumes of 36 million barrels and Undiscovered Prospective OIIP volumes of 294 million barrels (see press release from March 27, 2013 for details of the NSAI report).

We seek Safe Harbor.

? 2014 Canjex Publishing Ltd.

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