Junex Strikes Oil in its Galt No. 4 Horizontal Well

QUEBEC CITY, QUEBEC--(Marketwired - Nov. 27, 2014) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is very pleased to announce an oil discovery in its Galt No. 4 Horizontal Well that it drilled using its wholly-owned Foragaz No. 4 drilling rig. Having finished drilling on November 20^th, this is the first horizontal oil exploration well ever drilled by industry in Quebec. This well is situated approximately 20 kilometers west of the town of Gaspé in eastern Quebec.

"We are tremendously excited by this significant oil discovery as it moves us markedly closer to commercial oil production at Galt. As predicted, this horizontal well encountered a substantial interval of oil-charged, naturally-fractured reservoir rock. Based on these positive results, we have commenced operations of installing perforated production casing in the well, after which swabbing operations will be performed as the first part of oil testing operations. We expect delivery of a new oilfield pump in late December that will be installed in the well for further production testing and, ultimately, commercial oil production if the results from these production tests support this." stated Mr. Peter Dorrins, Junex's President & Chief Executive Officer.

This 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 were recorded during the drilling of the oil reservoir. Detailed downhole well logging, using specialized instruments, was performed after the drilling of the well and this clearly indicates that the Forillon oil reservoir is intensely fractured. This well has met our objective of intersecting the maximum number of near-vertical, natural fractures in the Forillon oil reservoir.

The well was drilled on-budget in a record time of 37 days (versus our forecast of 55 days) in an area renowned for its "tough" drilling. An average drilling rate of 7 meters per hour was achieved in the Forillon oil reservoir, which, following optimization of the drilling parameters, attained drilling rates in the 20 to 25 meters per hour range. This improvement in drilling rates is a testament as to the ongoing management and optimization performed by Junex's employees during the drilling of the well and this knowledge will be applied in the drilling of future wells on our Galt Oil Property.