La Presentation No. 1 is a vertical well through the Ordovician shale formations with the Utica shale as a primary target.
This well follows the St-Hyacinthe No. 1 well that spud on August 20, 2009 and was drilled on time and on budget. The well produced significant gas shows and established substantially thicker Utica shale in the order of 30% as compared to Yamaska. The St-Hyacinthe No. 1 cores have been sent to the laboratory for analysis and initial results are expected in the coming weeks. The wells should be fracced following full analysis of core samples. Pipeline infrastructure is present on the property.
The St-Hyacinthe property is located immediately south of Gastem’s Yamaska property, which is the subject of a substantial exploration program. Gastem considers the St-Hyacinthe property to be within the prime Utica fairway as defined by recent exploration work.
Canbriam Energy Inc, the operator, and Gastem have an option to earn an interest of 68% and 17% respectively in the property, with the remainder (15%) being held by the farmor’s group.
