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Junex St-Antoine-sur-Richelieu #1 Well in the Contrecoeur Area

Junex is currently drilling the Junex St-Antoine-sur-Richelieu #1 well in the Contrecoeur area located about 55 kilometers from Montreal. This well is targeting a seismically-defined zone of collapse or sag at the Trenton-Black River level at an estimated depth of 770 meters. Moreover, this well will drill through the overlying Utica Formation Shales; the well logs as well as all the geological data collected by Junex from this section of this well will be provided to its partner, Forest Oil Corporation, who, after having analyzed this data, will decide whether or not it will exercise its option to perform additional operations totalling $4 million USD in order to earn a working interest of 60% in the Shale section above the Trenton-Black River on this 55,240 acre-sized property (see press release dated April 1st 2008). Upon Forest earning this working interest, Junex will then hold 40% working interest in the Shale section above the Trenton-Black River and 100% working interest in the Trenton-Black River and other geologic intervals on the property. The Junex St-Antoine-sur-Richelieu #1 well is currently drilling at a depth of 471 meters and the anticipated total depth of the well is 1,200 meters.

Junex St-Augustin-de-Desmaures #1 Well

Junex is also drilling the Junex St-Augustin-de-Desmaures #1 well that is situated about 20 kilometers from Quebec City. The prime objective of this well is to cut cores in the Lorraine and Utica Shales then to analyze these cores for specific geological characteristics. The well is currently drilling at a depth of 637 meters and Junex has already cut 4 different cores over parts of the interval between 342 and 514 meters. These cores have been sent to CBM Solutions for lab analysis such as thermal maturation analysis and analysis of mechanical properties of the Shales. The Company anticipates completion of these analyses over the next three to six month period. While the Company has completed the coring operations of the Shale section, it is continuing to drill to an anticipated total depth of 850 meters through the Trenton-Black River and possibly other formations to obtain more information about the geology in the region.

http://www.marketwire.com/press-rele...

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