Canext Announces 600 Bopd Test at Sweeney

Canext Energy Ltd. ("Canext" or the "Company") (TSX VENTURE:CXZ) is pleased to
announce the Company has successfully completed two (1.2 net) step out wells at
Sweeney on the Peace River Arch in Northwest Alberta. The wells were drilled and
cased at the end of August and beginning of September. Both wells have since
been completed and swabbed or flowed 27 degree API oil at less than a 5% water
cut without stimulation. The first well tested oil at rates in excess of 200
barrels of oil per day ("bopd") while the second well flowed over 400 bopd.


Both wells were completed at structural positions similar or lower than a well
drilled and completed in March 2008 which tested 100% water. The Company
believes this confirms its interpretation that the March well was a mechanical
failure due to a poor cement bond that resulted in water production coming from
a shallower horizon. The target zone in the March well should be hydrocarbon
bearing.


Canext expects the new wells to be placed on-stream by mid October at a
restricted combined rate of 250 bopd (150 bopd net). The Company will make a
regulatory application to remove Maximum Rate Limitations ("MRL"). Assuming Good
Production Practice ("GPP") is granted, the rates may be increased.


Based on the results of the two new wells, Canext has elected on an option to
increase its interest in three sections of land at Sweeney. The Company will
drill a well prior to December 31, 2008 paying 60% of the drilling and
completions costs to earn a 49.5% working interest in all three sections. Canext
plans to shoot a 12 square mile 3D seismic program across its prospective lands
in December. Additional step out drilling will follow in early 2009. Based on
current mapping, the Company has identified 20-30 locations on 80 acre spacing.
An updated presentation has been placed on the Company's website.


Reader advisory: 

The term "BOE" may be misleading, particularly if used in isolation. In
accordance with NI 51-101, a BOE conversion ratio for natural gas of 6 mscf: 1
bbl has been used which is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead. Investors are cautioned that the preceding
statement of the Company may include certain estimates, assumptions and other
forward-looking information. The actual future performance, developments and/or
results of the Company may differ materially from any or all of the
forward-looking statements, which include current expectations, estimates and
projections, in all or part attributable to general economic conditions and
other risks, uncertainties and circumstances partly or totally outside the
control of the Company, including natural gas/oil prices, reserve estimates,
drilling risks, future production of gas and oil, rates of inflation, changes in
future costs and expenses related to the activities involving the exploration,
development and production of gas and oil hedging, financing availability and
other risks related to financial activities. Canext undertakes no obligation to
update publicly or revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.

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