Gastem: 3 Horizontals and 1 Vertical on St-Hyacinthe Property
04 May 2010 - 10:22PM
Marketwired
Gastem (TSX VENTURE: GMR) is pleased to announce that the 2010
St-Hyacinthe drill program is to begin in mid-May. The 2010
program, operated by Canbriam Energy, is projected to drill 3
horizontal wells and 1 vertical well. All horizontal wells will be
fracture stimulated and tested for long-term production.
The four well program will complete the earn-in phase of this
project and will evaluate the commercial potential in a focused
region of the property. The entire drill and frac program is
targeted for completion prior to the end of this year. Pipeline
infrastructure is present on the property. Gastem will report on
the wells as they are being spudded and following evaluation of the
test data.
The St-Hyacinthe Property is located immediately south-east of
Gastem's Yamaska Property. Canbriam Energy and Gastem will earn an
interest of 68% and 17% respectively in the property with the
completion of this program. In 2009, Gastem sold 0.425% in the
property to Forest Oil, permitting Forest Oil to participate in
various technical aspects of the project. The remaining 15%
interest is held by the farmor group.
Gastem is an independent oil and gas exploration and development
company based in Montreal. The company holds exploration permits
and rights to 3,135 km(2) in the St. Lawrence Lowlands, the Gaspe
Peninsula and the Magdalen Islands in Quebec as well as properties
in New York State and rights and interests in Appalachia.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Gastem David Vincent 514-875-9034
David.Vincent@Gastem.ca
(TSXV:GMR)
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