Independent proxy advisory firms recommend shareholders vote in favour of
Verenex Plan of Arrangement

CALGARY , Dec. 2 /CNW/ - Verenex Energy Inc. ("Verenex") (VNX - TSX) is pleased to announce that Glass Lewis & Co. and RiskMetrics Group, Inc., two leading independent proxy advisory firms, have each recommended that Verenex shareholders vote "FOR" the previously announced Plan of Arrangement transaction (the "Arrangement") involving Verenex, Area 47 ( Canada ) Holdings Limited and the Libyan Investment Authority.

The Board of Directors of Verenex unanimously recommend that Verenex securityholders vote FOR the Arrangement at the special meeting of securityholders to be held at 9:00 a.m. ( Calgary time) on Friday, December 11, 2009 . Whether or not you plan to attend the meeting, you are asked to complete, sign, date and return the form of proxy, which accompanied the management information circular of Verenex dated November 13, 2009 , by no later than 9:00 a.m. ( Calgary time) on Wednesday, December 9, 2009 .

Verenex has retained Georgeson Shareholder Communications Canada Inc. ("Georgeson") to act as information agent. Any questions or requests for assistance may be directed to Georgeson at 1-866-725-6571.

Permission to use recommendations from Glass Lewis & Co. and RiskMetrics Group, Inc. reports was neither sought nor obtained.

Verenex is a Canada-based, international oil and gas exploration and production company with a world-class discovered resource base and exploration portfolio in the Ghadames Basin in Libya .

For further information: Jim McFarland, President & CEO, Verenex Energy Inc., Telephone: [phone]; or Ken Hillier, Chief Financial Officer, Verenex Energy Inc., Telephone: [phone]