Gastem is an oil and gas exploration and development company with exploration properties located in the St. Lawrence Lowlands and the Gaspe Peninsula in Quebec. The Company, through its wholly owned subsidiary Gastem USA, has an 80% interest in exploration properties in New York State and a 100% interest in Virginia properties.

At present, the company is exploring the Utica Shale formation in the Quebec Lowlands with an objective of establishing commercial viability. In New York State, Gastem USA is undertaking an aggressive development program on its properties. Finally, the company is finalising the exploration program for the Magdalen Islands as well as its review of the Magdalen Basin. this area as not only necessary but a key factor in assuring constant and sustained growth.

Best industry practices

Gastem strives to apply ‘best industry practices’ in order to respect environmental and community concerns. These concerns receive constant attention and our exploration and development programs are prepared with the best possible environmental supervision and quality controls.

Respect for the community and good neighbour policies are fundamental to our company’s growth. We consider our efforts in this area as not only necessary but a key factor in assuring constant and sustained growth.

Utica Shale expertise

Gastem, the first to drill and core two wells drilled specifically for Utica Shale exploration in Quebec in the summer of 2007, has continued to developed specific expertise on the Utica Shales. Using the latest technological advances and solid know-how, Gastem’s team has consistently operated, drilled and fracced on budget and on time over the past three years.

As the Utica Shale formation is now entering economic feasibility testing, Gastem plans to remain at the forefront of this new and exciting phase. ider our efforts in this area as not only necessary but a key factor in assuring constant and sustained growth.

OPERATIONS

Operations overview