Forest Oil Corporation

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Denver, Colorado-based Forest Oil Corporation (FST) has a leasehold of 330,000 gross acres in Quebec's Utica shale play in the Saint Lawrence Lowlands.

Forest has a pilot Utica shale drilling program consisting of three horizontal wells. According to a February, 2009 report, these underwent successful slickwater fracs during the forth quarter of 2008. Each well targeted a different section of the Utica shale and was located in a different geographic location. After undergoing four stage fracs, these three experimental wells produced between 100 and 800 Mcf/d of natural gas.

The company's Utica shale program is conducted through Canadian Forest Oil Ltd. (CFOL), a wholly owned subsidiary of Forest Oil. It has drilled two horizontal wells at St-Francois and St-Louis on the Yamaska Property in the Saint Lawrence Lowlands, Quebec, Canada. Forest's Utica shale program on Yamaska covers approximately 112,000 acres. Its 10 year exploration licenses for the property are good until 2016. Gastem, Junex and Questerre Energy Corporation are partners in this development.

A press release in December, 2009 announced that Forest had concluded a drill-to-earn agreement with Junex Inc whereby it was to drill a horizontal Utica shale well to earn a 60% working interest in the Richelieu North Permit in the Contrecoeur area, located approximately 35 miles northeast of Montreal on the south shore of the St. Lawrence River. Forest was to spend $4 million drilling a vertical pilot well in early 2010, acquire and analyze well bore data from it, and follow up by drilling a horizontal well during the summer of 2010. This agreement was for a working interest in Utica shale only--Junex reserved the Trenton-Black River interval and other geological formations for itself.

H. Craig Clark is President and CEO of Forest Oil.

David H. Keyte is Executive Vice President and CFO.

J.C. Ridens is Executive Vice President and COO.