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February 9th 2010
Junex Announces Prospective Original Gas in Place Resources on the Nicolet Permit of 8.67 TCF
QUEBEC CITY, QUEBEC--(Marketwire - Feb. 9, 2010) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is pleased to announce that Netherland, Sewell & Associates, Inc., ("Netherland Sewell"), an independent reservoir engineering firm based in Texas, has provided their "Best Estimate" of the Prospective Original Gas in Place Resources ("OGIP") volumes for the Utica Shale on the Company's Nicolet Permit in the St. Lawrence Lowlands at 8.67 Trillion Cubic Feet ("TCF"). Junex's 50% interest of this Prospective Resources OGIP volume is 4.33 TCF. › READ MORE |
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Including some licences in which it holds only a royalty in case of future production, 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 goal is to achieve positive cash flows from its natural brine and drillings services operations. Junex also holds approximatly 7.9% interest in Petrolia (PEA : TSVX) and a approximatly 1.0
% interest in Gastem (GMR : TSXV).
Junex shares are trading on the TSX Venture Exchange under the symbol JNX. |
