Canadian Quantum, with operating partner Sundance, is preparing to drill an initial test well, on the recently acquired jointly held permit comprised of approximately 27 sections of land underlying the Alexander First Nations reserve. The test well is targeting the Alexander Sand, Detrital and Wabamin formations. The Alexander First Nation lands have the potential for multi-zone light oil and natural gas production at relatively shallow depths with existing infrastructure in the area. Drilling operations are scheduled to commence late November, 2011.
In addition, Canadian Quantum and its partners have commenced seismic operations on the Turin Project where an 11.5 km seismic program will be shot and the data acquired over the next 30 days as crews become available. Drilling of the initial test well at Turin could commence as early as December, 2011.
Douglas Brett, President and CEO of the Company stated, "Commencement of operations on both of our Alberta projects this fall will provide shareholders with relatively quick results on these two plays that are both targeting light oil."
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