"CALGARY, Jan. 12 /CNW/ - Verenex Energy Inc. ("Verenex" or the "Company")
(TSX - VNX) is pleased to provide an update of its operations in Libya and to
confirm an oil and gas discovery at the H1-47/02 new field wildcat ("NFW")
exploration well in Area 47 in the Ghadames Basin. The H1 discovery is the
Company's tenth oil and gas discovery in Area 47 since drilling began in
September 2006. The Libyan National Oil Corporation ("NOC") has also announced
this discovery..."
By the end this month there should more information on Verenex's future. The likeliest scenario is that the company will bought by CNPC, Pertamina or RWE.
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