Gastem Inc.

Gastem Inc.

September 23, 2009 12:24 ET

Gastem Inc./St-Hyacinthe Program : La Presentation No. 1 Well Underway

MONTREAL, QUEBEC--(Marketwire - Sept. 23, 2009) - Gastem (TSX VENTURE:GMR) is pleased to announce that the La Presentation No. 1 well on the 37,247 hectares Canbriam Energy/Gastem St-Hyacinthe Property has been spud. This well is the second of a three vertical and consecutive well test program to evaluate the gas production potential of the Utica Shale. Planned total depth is 2,100 meters and should be reached in approximately four weeks. La Presentation No. 1 is a vertical well through the Ordovician shale formations with the Utica Shale as a primary target.

This well follows the St-Hyacinthe No. 1 well that spud on August 20th and was drilled on time and on budget. The well produced significant gas shows and established substantially thicker Utica shale in the order of 30% as compared to Yamaska. The St-Hyacinthe No. 1 cores have been sent to the laboratory for analysis and initial results are expected in the coming weeks. The wells should be fracced following full analysis of core samples. Pipeline infrastructure is present on the property.

The St-Hyacinthe Property is located immediately south of Gastem's Yamaska Property, which is the subject of a substantial exploration program. Gastem considers the St-Hyacinthe Property to be within the prime Utica fairway as defined by recent exploration work.

Canbriam Energy, the operator, and Gastem have an option to earn an interest of 68% and 17% respectively in the property, with the remainder (15%) being held by the farmor's group.

Gastem (61,044,000 shares outstanding) is an independent oil and gas exploration and development company based in Montreal. The company holds exploration and storage permits and rights to 3,135 km2 in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York State and in Appalachia.

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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