Canadian Quantum Energy

From Wikimarcellus

Calgary, Alberta-based Canadian Quantum Energy Corp. (TSX VENTURE: CQM) is an oil and gas exploration company that owns various interests in 174,000 gross prospective Utica/Lorraine shale acres, covered by four permits, in the Saint Lawrence Lowlands in Quebec Province.

According to a June, 2009 press release, Quantum had resolved its outstanding litigation which had resulted in a complex transaction between it, Junex Inc and Fairlady Energy Inc. in regard to the 54,340 acre Lowland's Nicolet Permit (#2002RS056). This permit was first to be transferred to Fairlady, and then assigned to Quantum who would then farm the property out and back around to Junex. The latter had aready drilled and cored the St. Gregoire # 3 Well on the property where gas was found in the shale section of the cores. This well has been cased and was awaiting the results of further core analysis. Junex paid $250,000 to Quantum, and received in exchange the right to earn a 50% working interest in the property so long as it drilled, cored and logged two earning wells to the base of the Utica shale before the end of 2009.

Quantum was also involved in the Gentilly #1 well with Talisman Energy Inc.

A report surfaced in February, 2010 that Canadian Quantum and Questerre Energy had jointly announced that they had finished drilling the Gentilly #2 and testing was to begin later in the year. It was the second horizontal well drilled in the Lowlands Utica play. Talisman had been well operator. The latter had also been drilling another horizontal well, the St. Edouard #2. Drilling results on both of these wells was expected to be available by the end of February or early March, 2010. Both the Gentilly #1 and St. Edouard #1 had been single stage fracs. The later #2 wells in the series were expected to be multiple stage fracs. Testing was to settle the issue of whether these wells could produce sufficient flows of natural gas to be of commercial value. The companies were looking for production between 1.5 and 3.0 Mmcf/d to verify commerciality.

Update: In May, 2010, the company announced that the Gentilly #2Hz well (same as horizontal Gentilly #2) was to be stimulated in early June, 2010. This well, spud in mid-December, 2009, had been drilled to a depth of 8,835 feet. Roughly 2,296 feet of lateral drilled into Utica shale had been cased. The joint venture planned a multiple-stage fracture stimulation for the well. Testing was to begin on the well immediately after fracture stimulation, and the results were expected within 30 days. A separate press release by partner Questerre Energy indicated that the completion was to be a 5-stage frac. Both middle and lower intervals of the Utica shale formation were to be tested.

The Questerre press release also mentioned a Fortierville well located somewhere between the St. Edouard No. 1A and Gentilly No. 2 that the joint venture partners planned for later in the year. Further details about it appear on the Questerre Energy wiki page.

In June, 2010, the company announced that it planned to drill the Ste-Gertrude # 1Hz well with partner Talisman Energy Inc. It was to be drilled to a total depth of 6,594 feet. Once drilled, a kickoff point for its horizontal section was to be selected pending results of analyzing its logs. This lateral was planned to run 3,281 feet long. Drilling was to commence in late June, 2010. Talisman was to be the well operator. Note: There was some confusion about the location of Ste-Gertrude # 1Hz. One press release indicated it was on the 50%-owned Nicolet Permit west of the company's Gentilly Permit. A second release described it as located on the western portion of the company's Gentilly Permit and that Canadian Quantum's owned a 3.75% working interest with 0.75% gross over-riding royalty.

• Douglas Brett is Quantum's President.