1 well on Junex land
1 well on Gastem land
5.2 tcf resource calculation, 4.1 tcf for Forest, 9 to 13% to Junex (0.13 * 5 tcf)
3 horizontal wells to be drilled this year very important to project
I have read press release dated April 1, 2008 from Gastem, Questerre Energy, and Junex which give an erroneous impression that both wells are on Gastem land. The Utica shale is uniform across 339,000 acres (269,000 net to Forest). If the wells are spaced at 160 acres the total project will be 2000 wells for a a total capital expenditures of 4 to 8 billion dollars!