Junex inc.

Junex inc.

June 09, 2006 08:30 ET

Junex and Gestion Bernard Lemaire are drilling a fourth well on the Galt region

MONTREAL, June 9 - Junex (JNX : TSXV), and its partner
Gestion Bernard Lemaire have received all the government approvals in order to
drill a fourth well in the Galt region, near the city of Gaspe. The
construction of the site in currently on its way and the drilling should start
in the next 20 days.

The Galt No 4 well is located south of Mount Galt, at approximately 20 km
of Gaspé. The geological objective of this drilling is to test a collapsed
zone which could be dolomitize at the top of the Indian Cove limestones at a
depth of 1,150 m. The anomaly is visible on the seismic profiles and on the
aerialmagnetic maps of the area. As per the interpretation of Junex's
technical team, the proposed site is located at the intersection of faults
where a maximum of secondary porosity could have been generated. The drilling
should not go deeper than 1,500 m total.

Junex and Gestion Bernard Lemaire are equal partners in the Galt
exploration permit which covers a total area of 16,803 acres. In the last
years, approximately 50 km of seismic surveys have been performed in this area
and three deep wells have been drilled. The Galt No.1 (natural gas) and Galt
No.3 (natural gas and oil) wells both produce small quantities of
hydrocarbons. The fourth drilling on the Galt area will be drilled based on
the geological model developed by Junex which integrates all the data obtained
until now from those wells.

Contact Information

  • JUNEX:
    Jean-Yves Lavoie, P. Eng.
    (418) 654-9661

    Dave Pépin
    Vice-president, Corporate Affairs
    (418) 654-9661