Terrenex Acquisition Corporation

Terrenex Acquisition Corporation

November 06, 2006 00:15 ET

Terrenex Acquisition Corporation: Talisman Spuds Gentilly #1 Well

CALGARY, ALBERTA--(CCNMatthews - Nov. 6, 2006) - Terrenex Acquisition Corporation (TSX VENTURE:TXA) ("Terrenex" or the "Company") announced today that Talisman Energy Canada ("Talisman") spud the Gentilly #1 well earlier this week.

The well is expected to test multiple exploration targets with an estimated total vertical depth at over 2600m.

As a result of its election to participate and its carried working interest, Terrenex will pay 2.25% of the well costs and have a 3.75% working interest in the well. Terrenex will also receive an overriding royalty on any production from the well.

Terrenex in conjunction with its wholly owned subsidiary, Cabernet Holdings Limited, currently holds 10,698,785 common shares of QEC, representing 7.6% of the issued and outstanding capital of Questerre. All the Directors of Terrenex serve as directors or officers of Questerre.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Terrenex Acquisition Corporation
    Michael Binnion
    (403) 777-1185
    (403) 777-1578 (FAX)
    Email: terrenex@cia.com