Canadian Quantum Energy Corporation
TSX VENTURE : CQM

Canadian Quantum Energy Corporation

February 04, 2011 07:30 ET

Canadian Quantum Updates Drilling Operations

CALGARY, ALBERTA--(Marketwire - Feb. 4, 2011) - Canadian Quantum Energy Corporation ("Canadian Quantum" / "the Company") (TSX VENTURE:CQM) announces that the Company and its partner have successfully finished the drilling of the horizontal well, DRUMLIN CD QUANTM CYN-PEM 14-2-52-11.

Management expect the well will be stimulated in mid-February with a sequential multi-stage frac and tested by month end. With success, production is expected to commence early in March. At Bigoray, the Company has access to approximately 8,000 acres of land through either direct ownership or farmin.

Doug Brett, President of Canadian Quantum stated: "We are very pleased with how the drilling operations went and look forward to stimulating and testing this well. The lands are in close proximity to existing infrastructure which will allow for a quick tie-in. Should our initial test well prove to be a success, we have identified additional locations on the company's joint interest lands on the play."

Canadian Quantum is also active in the St. Lawrence Lowlands, Quebec Utica Shale Play holding various interests in approximately 174,000 gross acres covered by four 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 description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Canadian Quantum's disclosure documents on the SEDAR website at www.sedar.com. Canadian Quantum does not undertake to update any forward-looking information except in accordance with the applicable securities legislation.

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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