Canadian Quantum Energy Corporation

Canadian Quantum Energy Corporation

March 28, 2007 18:43 ET

Canadian Quantum Energy Corporation: Testing of Talisman Gentilly #1 Well

LONDON, ONTARIO--(CCNMatthews - March 28, 2007) - Canadian Quantum Energy Corporation (NEX:CQM.H) ("Quantum") announces that testing is underway for 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 been completed and perforated in the Trenton Black-River formation. Initial test results showed flow rates as high as 4.5 mmcf/d. Additional testing over the next several weeks is underway.

The project was jointly farmed out by Quantum and it's two partners to Talisman Energy who, after running additional seismic, elected to drill the exploratory target. Quantum paid 2.25% to earn a 3.75% working interest through the farm out arrangement for this initial test well.

Quantum is a small publicly traded oil and gas exploration and development company listed on the NEX Exchange under the symbol CQM.H.


Douglas J. Brett, President & CEO

This news release contains certain statements that may be deemed "forward-looking information ("FLI")". All information in this release, other than statements of historical fact, that addresses events that the Company expects to occur, is FLI. FLI is usually identified by the words "expects", "intends", "estimates" and "projects", or stating that events "will", "may" or "should" occur. FLI in this document includes statements regarding exploration programs and joint venture participation.

Although the Company believes the expectations expressed in such FLI are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially. Factors that could cause the actual results to differ include market prices, exploration success, and continued availability of capital and financing, and general market conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. FLI is based on the opinions of the Company's management on the date the FLI is provided. The Company undertakes no obligation to update the FLI in the event that management's 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
    (403) 538-8790
    (403) 538-8795 (FAX)