QUEBEC CITY, QUEBEC--(Marketwire - Nov. 12, 2009) - Junex (TSX VENTURE:JNX)is pleased to announce that it has earned a 50% working interest in the interval from the surface to the base of the Utica Formation in the Nicolet permit, which covers 54,363 acres and is located in the heart of the St. Lawrence Lowlands Utica play (see press release dated June 15, 2009).
Junex earned this working interest in the Nicolet property by drilling two wells on the Nicolet property to the base of the Utica Formation, of which the St-Gregoire #2 well was the second earning well. Prior to the drilling of this well, Junex completed a seismic survey of approximately 14 line-kilometres to position the well proximal to and on the downthrown side of the Yamaska Fault Zone. This well was drilled to total depth of 1,619 meters and a total of 42.6 meters of cores was cut in the Utica Shale. These cores were conserved by and sent to CBM Solutions for laboratory analysis.
The St-Gregoire #2 well also encountered significant natural gas shows with overpressure in lower sections of the wellbore, necessitating the installation and cementing of 7 inch diameter intermediate casing in the well. The Utica Formation is approximately 247 metres thick in the well and isotopic analysis of the gas indicates that it is thermogenic in origin.
Preliminary core analysis results have been received: preliminary gas contents of the Utica cores of up to 38 standard cubic feet per ton (scf/ton) have been measured. Final results are expected in the coming weeks as sufficient time must be allowed to permit more thorough degassing and measurement of the sorbed gas to occur.
