Canadian Quantum Energy Corporation

Canadian Quantum Energy Corporation

March 12, 2012 06:30 ET

Canadian Quantum to Complete Alexander Project Test Well

CALGARY, ALBERTA--(Marketwire - March 12, 2012) - Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Corporation") (TSX VENTURE:CQM) announces that its 16-11-56-27 W4M exploratory test well ("16-11 Well") has been drilled and cased to a depth sufficient to adequately evaluate the primary formations of interest being the offsetting light oil producing Alexander sand and the Detrital formation as well as the Ellerslie and Wabumun formations. A service rig has been contracted to commence completion operations. Results will be released as they become available. Canadian Quantum holds a 50% interest in the 16-11 Well as well as throughout 27 contiguous sections comprising the Alexander First Nations Project Lands.

Canadian Quantum's 50% partner and operator of the Alexander First Nations Project Lands is Sundance Energy Corporation (TSX VENTURE:SNY)(OTCQX:SNYXF). The Corporation's previously announced 50% participation in a 3D seismic program consisting of approximately 9 square miles of shooting and recording is underway. Data from the 16-11 Well will be integrated into the 3D seismic data to optimize additional drilling locations on lands controlled by Canadian Quantum and its partner.

About Canadian Quantum

Canadian Quantum is actively pursuing light oil opportunities in Western Canada. The Corporation holds 800 gross acres (360 net acres) at Turin Alberta and 17,280 gross acres / 27 sections (8,640 net acres) on the Alexander First Nation Lands in Central Alberta along with various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.

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 Corporation's disclosure documents on the SEDAR website at The Corporation 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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