Contact Exploration Drills Duster on Antigonish Block

Contact Exploration and its partner, Vintage Petroleum Canada Inc., did not encounter oil or gas in commercial quantities and the well on the Antigonish block in Canada has been abandoned.

The well was drilled to a depth of 1,044 meters. Contact had a 20% carried interest in this well. The 480,000 acre Antigonish exploration block has now had its initial term exploration commitment fulfilled and will be extended into a second three year term. A detailed review of the well and other potential on the block will be carried out by both Contact and Vintage in the near future.

In addition to the above drilling, Vintage has commenced shooting a 75 kilometer seismic program on three additional exploration blocks where Contact has a 25% carried interest.