Canbriam Energy

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Calgary, Alberta, Canada-based Canbriam Energy is oil and gas exploration and production company.

In November, 2008, it was reported that Canbriam Energy bought an interest in Quebec-based Petrolympic Ltd. and joint venture(JV) partner Ressources et Énergie Squatex Inc.'s landholdings which includes drilling rights in the Saint Lawrence Lowlands. It also has a farm-out agreement with the JV partners. It was announced in June, 2009 that it planned to drill two vertical wells on the property during the summer of 2009 to the Utica shale or Trenton-Black River formation. In July, 2009, a notice appeared indicating that the first well in the series had been spud in the St. Lawrence Lowlands.

It was announced in January, 2009 that the company had entered into a farm-in agreement with Gastem for the two Mundiregina permits (92,104 acres) located in the St. Lawrence Lowlands.

Petrolympic announced in April, 2010 that Canbriam had met all terms of its farm-out agreement and confirmed that the latter company had earned a 60% interest in the first 8,000 hectare block. This block was located within permits 2006PG864 and 2006PG866. The Farnham #1 well was located on the first of these permits. It was spudded in June, 2009 and drilled to a depth of 8,225 feet. The ownership in the 8,000 hectare block after the conditions of the farmout were met was: Petrolympic 12%, Squatex 28%, and Canbriam 60%. Canbrian has an option to earn a 60% interest in an additional 24,000 hectares. To do so, it must drill 6 additional vertical/horizontal wells before November 30, 2011 and pay $13.5 million to its other partners.

• Paul Myers is Canbriam's CEO.