QUEBEC CITY, QUEBEC--(Marketwire - Jan. 18, 2012) - Junex (TSX VENTURE:JNX) announces that it is expanding its operations by launching new oil and gas exploration activities in the United States. This first project is situated in the prolific Permian Basin in West Texas.

Junex has entered into an agreement with a private, Texas-based, oil and gas exploration & production company in a multi-well program targeting lower-risk, multi-zone, oil and gas-bearing reservoirs in the Permian Basin in Schleicher County, West Texas. Junex will earn a 25% leasehold working interest in approximately 2,300 acres through paying its 25% share of the acquisition costs of this acreage and by participating in the drilling of two initial wells at a level of 33% of the drilling costs "to casing point". Any subsequent completion expenditures in the first two wells or drilling and completion expenditures in any other new wells will be at a 25% participating interest level net to Junex.

"Because of the prospectivity of our Quebec acreage, in particular our Anticosti Macasty Shale Oil assets and our Galt Oil assets, Quebec remains an important focus for our company. In this light, we intend to start drilling on our Galt Oil project during the first half of this year. However, the Quebec government-ordained slow-down of operations on our prospective Utica Shale assets has stimulated us to expand our operations elsewhere in North America to further diversify our oil and gas portfolio as a means of adding value for our shareholders. This Permian Basin opportunity represents part of the fruition of an extensive evaluation of a number of opportunities performed by our technical staff over the past three quarters. We are continuing our ongoing efforts of identifying new opportunities in North America that meet our criteria for economically-viable, risk-balanced, oil projects and liquids-rich gas projects," said Mr. Jean-Yves Lavoie, P. Eng., CEO of Junex.

Similarly, in order to further generate positive cash flows, Junex's Foragaz drilling division has started providing drilling services to third parties in Nova Scotia using its Foragaz No. 3 rig and it is actively pursuing drilling contracts there and elsewhere. An additional benefit to this drilling activity is the continued employment of Junex's Quebec-based drilling personnel over the short to medium term of the Quebec government-ordained slow-down of oil and gas activities.