Canadian Quantum Energy Corporation
NEX BOARD : CQM.H

Canadian Quantum Energy Corporation

November 27, 2006 12:57 ET

Canadian Quantum Energy Corporation: Participation in the Talisman Gentilly #1 Well

LONDON, ONTARIO--(CCNMatthews - Nov. 27, 2006) - Douglas J. Brett, President of Canadian Quantum Energy Corporation (NEX BOARD:CQM.H) (the "Company"), announces that it has elected to participate in the Talisman Gentilly #1 well which was spudded in late October by Talisman Energy Canada.

The well, drilled in the St Lawrence Lowlands in the Parish of Gentilly near Trois Rivieres, Quebec, has a planned depth of approximately 2600 m and is expected to test multiple exploration horizons.

The project was jointly farmed out by the Company and its two partners to Talisman Energy who, after running additional seismic, elected to drill the exploratory target. Quantum pays 2.25% to earn a 3.75% working interest through the farm out arrangement.

The Gentilly #1 will be the first test of several prospects identified on the Company's acreage.

The Company is a publicly traded junior oil and gas exploration and development company listed on the NEX Exchange under the symbol CQM.

CANADIAN QUANTUM ENERGY CORPORATION

Douglas J. Brett, President & CEO

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or are "subject to" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Canadian Quantum Energy Corporation
    Douglas J. Brett
    President & CEO
    (519) 657-9303
    (519) 657-3633 (FAX)