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June 22nd 2010
Junex announce an independent evaluation of the Galt property
JUNE 21, 2010 - QUEBEC CITY, QUEBEC-- Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is pleased to announce that Netherland, Sewell & Associates, Inc., ("NSAI"), an independent reservoir engineering firm based in Texas, has provided their Best Estimate of the total Original Oil-in-Place (“OOIP”) resources at 183 million barrels for the Forillon Formation on Junex’s Galt Field property. This 183 million barrel figure includes Discovered Resources volumes of 18.5 million barrels and Undiscovered resources volumes of 164.6 million barrels as tabulated below. › 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. |
