CALGARY, ALBERTA — (Marketwire) — 12/18/12 — Canadian Quantum Energy Corporation (“Canadian Quantum” or the “Company”) (TSX VENTURE: CQM) announced today that the 16A-11-56-27W4 well (16A-11) has now been drilled, logged and cased as a potential oil well. Completion of the 16A-11 well will commence early in January. Canadian Quantum has a 20% interest in the 16A-11 well, a 25% working interest in the next two wells and a 50% working interest in the balance of the 27 section Alexander Property.
Canadian Quantum Energy Corporation holds 1,600 gross acres at Turin, Alberta and 17,280 gross acres / 27 sections on the Alexander First Nations lands in Central Alberta along with various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company–s disclosure documents on the SEDAR website at . The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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:
Canadian Quantum Energy Corporation
Douglas Brett
President & CEO
(403) 532-8543
Canadian Quantum Energy Corporation
Mark Prosser
Investor Relations
(604) 889-8676