MONTREAL, QUEBEC — (Marketwired) — 07/24/13 — Gastem (TSX VENTURE: GMR) is pleased to announce that it has sold the Matapedia-Cyr permits situated in the Gaspe Peninsula to Petrolia and St-Aubin Energie S.A.S. Conditions of the cash sale are confidential and the sale does not include related amounts deposited with the Quebec Ministry of Natural Resources and also does not include or afffect potential proceedings against the Town of Ristigouche Sud-Est by Gastem.
Gastem is presently working on two conventional projects in the Maritimes. Objectives, properties and timing will be made known in due course. All three Maritime Basins have seen favourable developments and recent exploration results have been encouraging.
Gastem is an independent oil and gas exploration and development company based in Montreal. At present, the company holds exploration and storage permits and rights in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York State and Virginia. Other projects are also being developed. Properties and general information may be viewed on Gastem–s website at .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Raymond Savoie
514-875-9034