French (450) 766-0861 jccaron@squatex.com Business Exploration territory Media Investors Press Releases / Blog Contact Home Exploration territory St. Lawrence Lowlands St. Lawrence Lowlands The permits located in the St. Lawrence Lowlands are separated into two blocks of land, the first of which is located east of Montreal in an area between Longueuil, St-Hilaire and Farnham to the south. The second block consists of a long strip that occupies a territory located south of Highway 20 between the previous block and Victoriaville. These permits cover a total area of 224,933 ha, of which Squatex's share of 70% is 157,453 ha net. Following a lease and drilling of the Farnham No.1 well carried out by Canbriam Energy Ltd in the summer of 2009, the latter acquired a 60% interest from the surface to the roof of Trenton on an 8000 ha block straddling the permits 2009RS298 and 2009RS296. On this block, the interest of RESSOURCES & ÉNERGIE SQUATEX INC between the surface and the roof of Trenton is 28% and that of Petrolympic 12%. The deeper section and all the rest of the permits remain 70% Squatex and 30% Petrolympic. Just before starting the initial program with the Farnham No.1 drilling, Canbriam agreed in June 2009 to accelerate its decision to exercise the first option of the agreement by committing to pay an additional $ 3.5 million ( $ 2.45 M to Squatex and $ 1.05 M to Petrolympic) before November 30, 2009 and to drill, form or abandon 2 additional vertical wells in the Utica formation and / or 30 meters in Trenton before December 31, 2011 in order to earn a 60% interest in a second block of 8,000 ha. Additional deadlines or postponements of contractual dates have been planned between the partners in order to take into account the current conditions caused by the government decision to hold a strategic environmental study on shale gas exploration. Thus, according to the agreement, Canbriam maintains its other options of earning a 60% interest on an additional 24,000 ha within permits 2009RS296 and 2009RS298 by having to drill up to 6 additional vertical / horizontal wells and by paying an amount in money that could total $ 13.5M ($ 9.45M to SQUATEX and $ 4.05M to Petrolympic). As of March 31, 2013, Canbriam acquired a 60% interest in an 8,000 ha block shared between permits 2009RS296 and 298. License number Renewal Area (Ha) Sub-Total 224 933 2009RS287 09/01/2012 20 871 2009RS288 09/01/2012 17 990 2009RS289 09/01/2012 20,909 2009RS290 09/01/2012 7,248 2009RS291 09/01/2012 22,447 2009RS292 09/01/2012 18,827 2009RS293 09/01/2012 14 580 2009RS294 09/01/2012 21,664 2009RS295 09/01/2012 19,316 2009RS296 09/01/2012 20 339 2009RS297 09/01/2012 16 342 2009RS298 09/01/2012 24,400 Articles SQUATEX'S CLAIM AGAINST THE GOVERNMENT December 1, 2019 What is Squatex's particular vision for the development of hydrocarbons in Quebec? April 22, 2019 Contact (450) 766-0861 jccaron@squatex.com 7055, boul. Taschereau, bureau 500 Brossard Quebec J4Z 1A7 CANADA Shares - Shares Loading stock data ... Follow us - Follow us Squatex Energy & Resources Inc. © 2015 French English ( English )