The basin of the Baie-des-Chaleurs covers an area having nearly 2.5 million acres located in the south of the Gaspesian Peninsula. Junex is the unique owner (100%) of a block of 22 exploration permits covering an area of 1,020,040 acres. The sedimentary basin of Baie-des-Chaleurs is essentially Silurian (440 million years) and is practically unexplored in spite of the fact that Silurian rocks contain major hydrocarbon deposits in the American regions of the Appalachians. The most known deposits are those located in the Niagarian reefs in Ontario or the Clinton Sandstones in Ohio.

After having carried out many basic works in the previous years, such as the geochemical definition of the potential source rocks and a high-resolution aeromagnetic survey (in partnership with the Geological Survey of Canada), Junex carried out in 2005, a 90 km seismic survey where results have been analysed and interpreted in 2006. The seismic covering of Bonaventure sector now reaches a few more than 200 km and the data interpretation reveals the presence of closed structures and typical structural traps of the tectonic wedges as well as anomalies that could be associated with HTD breccias and Silurian reefs.

The basin of Baie-des-Chaleurs represents a quite large unexplored territory in terms of oil and gas exploration and Junex expects to drill a first exploring well on this block of permits, in 2007. The Junex Paspébiac #1 well will be installed at the top of a large dome structure of nearly 30 km2 of closure. The drilling will target a seismic anomaly at the level of the Silurian limestones, 1,500 meters in depth. Because of the great potential of this territory, Junex chose to carry out this drilling without any partner.