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Message: annual report comments

the below statement is from the Questerre annual report....looks like Gastem land....but under what terms did it acquire it...must be from Questerre....since they have a royalty on it...

 

The 102,000-acre Yamaska block lies adjacent to Questerre’s acreage with Talisman and is subject to a royalty and joint

venture agreement with Gastem Inc. (“Gastem”). Questerre currently holds a 7.5% gross overriding royalty convertible

into a 20% working interest on this block.

In the summer of 2007, Gastem spud two wells, St. Francois du Lac and St. Louis de Richelieu, on this block to

evaluate the Utica shale potential. The two back-to-back wells were successfully drilled to a vertical depth of

approximately 1800m. Gastem’s partner, Forest Oil, subsequently elected to stimulate and test the wells. Questerre

expects the test results will remain confidential as Forest completes its analysis of the data.


Apr 14, 2008 12:32PM

Apr 14, 2008 02:13PM
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