GMR

In order to proceed with a proposed restructuring, Gastem (TSX VENTURE:GMR)
intends to hold a meeting of shareholders as soon as possible to discuss and if
so decided, to approve a share consolidation. If approved, the share
consolidation will be followed by an important financing and an announcement
concerning new exploration and development projects and properties for natural
gas. Marquest has been retained, at no up-front cost, to head the financing and
to advise and assist with the restructuring, the financings and the share
consolidation. A small bridge financing by Marquest is to be closed in early
January for on-going expenses. 


"In order for Gastem to explore and develop, it is essential that we obtain high
impact projects in new and favourable areas, outside of Quebec. Combined with a
major financing and the recent association with Marquest, the restructuring will
allow the company to move towards the market value shareholders expect," stated
Raymond Savoie, president and CEO. 


Gastem is an independent oil and gas exploration and development company based
in Montreal. At present, 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. Other projects are also being developed. Properties and general
information may be viewed on Gastem's website at www.gastem.ca. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Raymond Savoie
514-875-9034
rs@gastem.ca

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