Canadian Quantum Energy Corporation

Canadian Quantum Energy Corporation

February 03, 2010 11:26 ET

Canadian Quantum Energy Corporation Announces Utica Shale Play Activity Update

CALGARY, ALBERTA--(Marketwire - Feb. 3, 2010) - Douglas Brett, President and CEO of Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE:CQM), is pleased to announce that drilling operations have been completed on the Gentilly No. 2 Horizontal Well in the Quebec St. Lawrence Lowlands Utica Shale Play. The Gentilly No. 2 Horizontal Well was drilled and cased to a measured depth of 2,693m including an approximate 700m horizontal lateral.

Further to the Company's December 21, 2010 Press Release, Canadian Quantum has engaged Netherland, Sewell and Associates Inc., Worldwide Energy Consultants to prepare a report in accordance with Canadian National Instrument 51-101 guidelines which will provide a comprehensive analysis of the Company's Utica Shale assets underlying its 50% owned Nicolet Permit, located in the Lowlands of Quebec. It is anticipated that during the week of February 8th Canadian Quantum will be in a position to release the findings of this report.

About Canadian Quantum

Canadian Quantum is active in the Quebec Lowlands Utica Shale Play holding various interests in approximately 170,000 gross acres covered by 4 Permits.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are 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 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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