Gastem Announces $5 M Flow-Through Financing

Gastem (TSX VENTURE:GMR) is pleased to announce that it is undertaking a
brokered private placement for an amount up to $5,000,000. The private placement
will consist of 7,692,308 flow-through units ("Flow-Through Unit") at a price of
$0.65 per Flow-Through Unit. Each Flow-Through Unit will consist of one
flow-through common share (the "Flow-Through Shares") and one common share
purchase warrant. Each whole warrant entitles the holder to acquire one
non-flow-through common share at a price of $0.85 per share for a period of 18
months from the closing (the "Offering").


The Offering will be made to accredited investors, within the meaning of
National Instrument 45-106, in the Provinces of British Columbia, Alberta,
Ontario and Quebec. The closing of the Offering is expected to occur on or about
November 30th 2009 and is subject to the completion of formal documentation and
receipt of Board and Regulatory approval including the conditional approval of
the TSX-V. Gastem has retained Industrial Alliance Securities and Frazer
Mackenzie Limited to act as the agent for the Offering.


The proceeds from the Flow-Through Shares will be used to finance admissible
exploration work in Quebec. Gastem will  incur admissible  "Canadian Exploration
Expense" ("CEE") and Quebec Exploration Expense (QEE) or deemed CEE and QEE and
renounce, for the 2009 taxation year, such CEE or QEE in favour of original
holders of the Flow-Through Shares in an amount equal to the subscription price
for each Flow-Through Share.


Gastem is an independent oil and gas exploration and development company based
in Montreal. The company holds exploration permits and rights to 3,135 km2 in
the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in
Quebec as well as properties in New York State and rights or 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.