Gastem

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Montreal, Canada-based Gastem (CA:GMR) is a gas exploration junior. It owns drilling rights to approximately 3,135 sq. km. of land in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in the Canadian province of Quebec. It is presently involved in a joint venture with Canadian Forest Oil, Questerre Energy Corporation and Epsilon Energy Ltd to develop the Yamaska property in the St. Lawrence Lowlands. Forest is the operator of the Yamaska Utica shale development that consists of 112,000 acres of drilling rights. Gastem owns a 20% working interest in the property.

In early January, 2009 the company announce a farm-in agreement with Canbriam Energy on two Mundiregina permits (92,104 acres) located in the St-Lawrence Lowlands directly south of the Yamaska property. Gastem will have a 17% interest and Canbriam will have a 68% with the remainder going to the sellers. There are two horizontal wells that have been drilled on this permit and are undergoing flow tests.

In February, 2009 Gastem announced the results of three wells on the Yamaska property which were considered successful.

Gastem also owns extensive drilling rights in New York and West Virginia.

Raymond Savoie is the President of Gastem.