Junex inc.
TSX VENTURE : JNX

Junex inc.

September 20, 2007 10:37 ET

Junex inc.: The Drilling of the Paspebiac Dome is Currently at 1,529 Meters Depth

QUEBEC CITY, QUEBEC--(Marketwire - Sept. 20, 2007) - NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Junex's Paspebiac #1 drilling (TSX VENTURE:JNX) has reached a depth of 1,529 meters this morning. The first natural gas shows have been observed in the drilling mud from 1,396 meters through the actual depth of 1,529 meters. Moreover, the presence of a limestone formation showing a visual porosity was observed from 1,502 meters.

Based on these results, Junex intends to continue the drilling down to an estimated depth varying between 1,800 and 2,000 meters. The drilling works should continue for an additional 15 days.

The Paspebiac #1 well is the first to be drilled on the 1 million acres block of permits held by Junex (100%) in the area of Baie-des-Chaleurs. This well is being drilled on a large dome structure of nearly 30 km2 of horizontal closure and of 300 meters of vertical closure. The well is targeting a seismic anomaly at the level of the Silurian limestones.

The seismic line which led to the identification of the Paspebiac structure is available on Junex's web site at the following address: http://www.junex.ca/en/projects/chaleurs-bay.php

About Junex

Junex holds exploration rights on more than 6 million acres of land located in the Appalachian basin in the province of Quebec. Recent major discoveries in the United States and Eastern Canada have stimulated exploration in Quebec, which is located in a favourable geological setting for oil and gas discovery. Junex's strategy is to reduce exploration risks by entering into partnerships with other exploration companies. In parallel to its exploration efforts, Junex's goal is to achieve positive cash flows from its natural brine and drillings services operations.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Junex inc.
    Mr. Jean-Yves Lavoie
    President
    418-654-9661
    or
    Junex inc.
    Mr. Dave Pepin
    Corporate Affairs
    418-654-9661