Canadian Quantum Energy
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Calgary, Alberta-based Canadian Quantum Energy Corp. (TSX VENTURE: CQM) is an oil and gas exploration company that owns various interests in 170,000 gross prospective Utica/Lorraine shale acres in the Saint Lawrence Lowlands in Quebec Province.
According to a June, 2009 press release, Quantum has resolved its outstanding litigation which has resulted in a complex transaction between it, Junex Inc and Fairlady Energy Inc. in regard to the 22,000 hectare 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 is 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 drills, cores and logs two earning wells to the base of the Utica shale before the end of 2009.
Quantum is 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.
- Douglas Brett is Quantum's President.
Calgary, Alberta-based Canadian Quantum Energy Corp. (TSX VENTURE: CQM) is an oil and gas exploration company that owns various interests in 170,000 gross prospective Utica/Lorraine shale acres in the Saint Lawrence Lowlands in Quebec Province.
According to a June, 2009 press release, Quantum has resolved its outstanding litigation which has resulted in a complex transaction between it, Junex Inc and Fairlady Energy Inc. in regard to the 22,000 hectare 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 is 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 drills, cores and logs two earning wells to the base of the Utica shale before the end of 2009.
Quantum is involved in the Gentilly #1 well with Talisman Energy Inc.
- Douglas Brett is Quantum's President.
