Gastem Inc.

Gastem Inc.

September 01, 2009 08:57 ET

Glenn R. Kelly Is Named Chairman of Gastem's Board of Directors

MONTREAL, QUEBEC--(Marketwire - Sept. 1, 2009) - Gastem (TSX VENTURE:GMR) is pleased to announce the appointment of Mr. Glenn R. Kelly as Chairman of Gastem's Board of Directors. Mr. Kelly will continue to head the technical committee, where he has been active since the fall of 2008. Former Chairman, Mr. Raymond Savoie, will become President and Chief Executive Officer of the Company.

Mr. Kelly holds a degree in civil engineering from Queen's University and an MBA from Laval University. He combines more than 25 years of experience in the petroleum and natural gas industry ranging from the drilling and completion of exploration, production and storage wells, the design and construction of surface facilities, to overall project management and financing on both the upstream and downstream ends of the industry. Mr. Kelly played important roles in the development of Quebec's natural gas industry notably as founder and President of Intragaz Inc., which specialises in the development and operations of underground natural gas storage facilities and developed the only such storage facilities in Quebec, and as well as President and COO of Rabaska Inc., an $840 million LNG terminal project located in Levis, Quebec. Prior to his career in Quebec, Mr. Kelly worked throughout Canada as a facilities and drilling engineer for Chevron Canada Resources of Calgary. Mr. Kelly is presently President and CEO of CO2 Solution Inc. of Quebec City, a company specialized in carbon capture and sequestration (CCS) technologies. Mr. Kelly has been an invited speaker at numerous natural gas industry conferences in North America and is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA).

The Company wishes to thank Marc-Andre Lavoie for his work as President of Gastem over the past two years. His sustained efforts and knowledge of the financial markets have been most valuable and will continue to be so as Mr. Lavoie remains a Director of Gastem and continues to be closely involved in the Company's financial affairs.

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 of land 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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