GMR

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.

(TSXV:GMR)
Historical Stock Chart
From Jun 2024 to Jul 2024

(TSXV:GMR)
Historical Stock Chart
From Jul 2023 to Jul 2024