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GMR

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Share Name Share Symbol Market Type
TSXV:GMR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Gastem: 3 Horizontals and 1 Vertical on St-Hyacinthe Property

04/05/2010 1:22pm

Marketwired Canada


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.


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