Junex inc.

Recent activities

14 December 2016

Silurian Basin, Gaspe Peninsula Baie des Chaleurs Project

The positive results obtained on the Galt Project since 2012 prompted Junex to pursue various exploration projects on its other exploration permits on the Gaspé Peninsula. In 2014, surface geological field work was carried out on the southern Gaspé Peninsula to improve knowledge of the regional source rocks in order to better assess the Silurian-aged petroleum system.

The same Source rock that generated the hydrocarbons present at Galt is present on our Baie des Chaleurs acreage. In addition, the two sedimentary basins are geologically contiguous, ensuring that all geological data and knowledge obtained on our Galt Project can be applied to the Chaleurs Bay project. This will improve the geological understanding of the Chaleurs Bay project and, by extension, increase the probability of hydrocarbon discoveries thereon. It is also of note that, in terms of a local market, the start of operations of a cement plant at Port-Daniel nearby is scheduled for 2017. This plant is a major development for our project which is located far from major consumer markets. The presence of a very large energy consumer right next door to our permits ensures that the economic viability of hydrocarbons that could be discovered and produced on the Chaleurs Bay project would be greatly improved. For these reasons, as well as the planned development of our Galt Field and the presence of a large energy consumer nearby, the company considers that the value of the Baie des Chaleurs project could significantly increase in future years.

Since the beginning of 2016, the company reviewed all available geological data on this project in order to prepare an exploration program targeting either natural gas and/or storage reservoirs to sequester CO2.

Junex' took advantage of the mild temperatures at summer's end to carry out fieldwork in the Baie des Chaleurs basin. The work consisted mainly of the study and sampling of some typical geological sections of this sedimentary basin. The work focused on research and description of potential reservoir level. The samples collected and data acquired from these will be used to improve the geological model, both from a sedimentary point of view and from the petroleum system, in order to determine new exploration targets in this region of the Gaspé Peninsula.

Source: http://bassin-silurien-gaspesie-projet-baie-des-chaleurs