Hesperian Capital Management Ltd. Announces Significant Investment in Nexstar Energy Ltd.

    CALGARY, Jan. 7 /CNW/ - Hesperian Capital Management Ltd. ("Hesperian"),
the manager of a strategically focused group of public mutual funds and
limited partnerships (the Norrep Group of Funds), announced that Norrep
Performance 2006 Flow-Through Limited Partnership has purchased an additional
730,000 Class A shares of Nexstar Energy Ltd. ("the Company").
    As a result of the above investment, Hesperian now controls
1,130,000 Class A common shares and 180,000 Class B common shares of the
Company, representing 11.38% of the outstanding Class A voting shares.
    The Nexstar Energy Ltd. shares are held by the Norrep Group of Funds for
investment purposes. Hesperian may increase or decrease share ownership of
this investment in the future. A copy of the report filed by Hesperian in
connection with the acquisition, as required under applicable securities
legislation may be obtained by contacting Hesperian at 1-877-531-9355.

    Hesperian Capital Management Ltd. is a Calgary-based investment firm with
over $846 million in assets under management. Please visit
www.hesperiancapital.com for more details about Hesperian and the Norrep Group
of Funds.

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks,
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
forward-looking statements.

    %SEDAR: 00017183E

For further information:

For further information: Keith Leslie, CFA, Vice President & Portfolio
Manager, Hesperian Capital Management Ltd., (403) 531-1402,

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