Thursday, September 11, 2008

Utica Shale Update - Gastem St Jean Well

This is the most recent news I have heard in regarding or drilling activity in the Utica Shale which is located in Quebec.

Gastem (TSX VENTURE:GMR) is pleased to announce that drilling is underway on Questerre et al #1 Saint-Jean-sur-Richelieu test well in the St. Lawrence Lowlands. Gastem holds a 20% working interest on this permit and Questerre is Operator with an 80% working interest.The St-Jean North permit, 54,000 gross acres, was obtained by Questerre in 2007 from a third party and Gastem, as a result of a previous agreement with Questerre, has a 20% participating interest.

The St-Jean North permit is adjacent to Gastem's 50% owned St-Jean Block, comprising 198,000 gross acres.