Canadian Quantum Energy Corporation
TSX VENTURE : CQM

Canadian Quantum Energy Corporation

December 21, 2009 13:41 ET

Canadian Quantum Energy Corporation Announces Drilling Commencement for the Gentilly #2 HZ Well, Utica Shale Play, Quebec & Engagement of Netherland Sewell

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2009) - Canadian Quantum Energy Corporation ("Canadian Quantum" / "the Company") (TSX VENTURE:CQM) is pleased to announce that drilling has commenced on the Talisman Gentilly #2 HZ horizontal well off-setting the original vertical Gentilly #1 Well, Utica Shale Play, Quebec. The Talisman Gentilly #2 HZ horizontal well is located adjacent to the vertical Gentilly #1 that tested at over 800 mcf/d from this interval. Total measured depth for this well is programmed at 2,916m with a horizontal leg in excess of 900m. Canadian Quantum's partners in this well are Talisman Energy Canada and Questerre Energy Corporation.

The Company further announces the engagement of Netherland, Sewell and Associates Inc., Worldwide Energy Consultants; to provide an analysis on the Company's Utica Shale assets in the Lowlands of Quebec. The Report is expected to be completed by the end of January and will provide a comprehensive analysis of the Company's Utica Shale resource potential. Doug Brett, the President & CEO of Canadian Quantum, stated, "We are looking forward to receiving the Netherland Sewell Report which will help to quantify the potential of our assets in the Utica Shale Play in the St. Lawrence Lowlands Quebec."

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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