Gastem: St. Barnabe No.1 Well Spudded Saturday
June 07 2010 - 7:30AM
Marketwired
Gastem (TSX VENTURE: GMR) is pleased to announce that the St.
Barnabe No1 well on the 37,247 hectare Canbriam Energy/Gastem
St-Hyacinthe Property was spudded Saturday, June 5th. Planned total
depth is 2,536 m and should be reached in approximately three
weeks. The objective is to drill, core and log a vertical well to
evaluate the Utica Shale as well as the Lorraine and Trenton
formations.
Once completed, the St. Barnabe vertical well will be plugged
back and the horizontal section will be drilled. Fracture
stimulation completion of the well will be done as part of a
program to stimulate all 3 horizontal wells following the drilling
of the last horizontal well. The St. Barnabe No1 vertical well is
the second well of a four well continuous program composed of three
horizontal wells and one vertical well on the St-Hyacinthe Property
to be drilled and tested during 2010. Pipeline infrastructure is
present on the property.
"The drill rig has moved from La Presentation, where the
horizontal well has been drilled and cased, to the site of St.
Barnabe," said Mr. Raymond Savoie, CEO of Gastem. "The extensive
core recovery planned for the St. Barnabe vertical well will
provide detailed laboratory analysis of the Gas in Place (OGIP) for
the economic modeling of this exploration block. All horizontal
wells will be fracture stimulated and results will be made known as
soon as available."
Gastem is an independent oil and gas exploration and development
company based in Montreal. The company holds exploration and
storage permits and rights in the St. Lawrence Lowlands, the Gaspe
Peninsula and the Magdalen Islands in Quebec as well as rights and
interests in New York State and Virginia.
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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