Canadian Forest Exercises Option for Interest in Quebec Shale Gas Play

Junex Inc. has announced that its partner, Canadian Forest Oil Ltd., has decided to exercise its option to earn an interest in the shale sections of land in the Contrecoeur area located approximately 50 kilometers from the city of Montreal.

Canadian Forest Oil has the opportunity to invest a certain amount in work commitments in order to become entitled to the assignment of a working interest in the above-mentioned land. In such event, Junex will retain the balance of the working interest in the said land following such assignment along with a 100% working interest in other geological formations, including the Trenton Black-River.

"Forest's expertise will certainly be significant in the development of the Quebec Shale Gas play over the coming years and we believe that Junex will greatly benefit from its partner's skills in unconventional gas plays. On the other hand, Junex is solely undertaking exploration operations focussed on evaluating the Shale Gas potential of its extensive 100% working interest land base in the St. Lawrence Lowlands. A 200 line-kilometer 2D seismic survey is currently underway and more wells, including the coring and possible fracing of the Shale sequences, are planned to be drilled once the interpretation of this new seismic data is completed," commented Junex's CEO, Jean-Yves Lavoie, P. Eng.
 

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