Discovery of a conventionnal natural gas reservoir

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[{"type":"text","content":"\n\n\nBROSSARD, QC, Nov. 15, 2013 /CNW Telbec/ - Ressources et Energie Squatex Inc. (¨Squatex¨) is pleased to announce the discovery of a significant reservoir rock\n which could contain a large quantity of conventional natural gas in the\n Lower St. Lawrence area.  While carrying a stratigraphic coring program\n which started in 2010 to evaluate the oil and gas potential of its\n licences, important porous dolomitized limestone zones of hydrothermal\n origin containing gas (89%Methane)  were met in a core hole that\n reached 1874 meters in the Mitis River area, south of Rimouski. These\n horizons of the Sayabec Formation are covered with fine grains rocks of\n the St-Leon Formation acting as cap rocks. A similar porous horizon was\n already known outcropping near St-Cléophas in the Matapedia, some\n twenty kilometers more to the east.\n\n\nThe core hole Massé No.1 was aimed to test a series of seismic AVO\n (amplitude vs offset) anomalies indicating the possibility of the\n presence of fluids and/or porous reservoir rocks near thrusted zones.\n The cores collected starting at 1847m where important gas flows started\n to occur, exhibit a 10 meters thick zone which contains a measured\n porosity which locally reaches 20,8% with a permeability of 1624 mD.\n The hole was cemented from one end to another in order to prevent that\n the fluids found at depth (Methane and/or salt water) become in contact\n with the surface formations. No testing was possible, considering the\n drilling equipment used.  The preliminary geophysical interpretation\n done by Squatex indicates that the prospective zone of AVO anomalies\n can extend over a surface of more than 20 km2, which, by using the parameters measured during drilling, could result\n in a reservoir which could contain a volume up to 100 BCF.  Further\n work and analysis must be performed to fully appraise and confirm the\n potential of the structure.\n\n\nSquatex is currently evaluating different options in order to finance\n the continuation of geoscientific work such as the recording of new\n seismic lines, the AVO processing of existing lines and to carry out\n the drilling of confirmation wells on the structure and determine its\n potential.\n\n\nAbout Ressources & Energie Squatex\nRessources & Energie Squatex is an oil and gas explora...

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