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RJK Explorations has acquired 10 Shale Gas & Oil permits in St. Lawrence area of Quebec totaling 214,900 hectares
KIRKLAND LAKE, ON, June 16 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV) ("RJK") wishes to announce...
About this update from Rjk Explorations Ltd. Class A
[{"type":"text","content":"\n\n\n\nKIRKLAND LAKE, ON, June 16 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV)\n("RJK") wishes to announce that it has acquired a 100% interest in a number of\nshale gas & oil permits in the St. Lawrence area of Quebec. At the present\ntime, RJK has reserved 10 permits totaling 214,900 hectares (531,030 acres),\nwhich are located within the current shale gas & oil play areas of the Lower\nSt. Lawrence, adjacent to and in close proximity to J.A.G. Ltee (Les Mines)\nand Mundiregina Resources Canada Inc. and also in a new area of interest\naround Sept-Isles where a well drilled in 1970 flowed gas.\n\n\n"Immediately after Forest Oil's announcement of a significant gas\ndiscovery in the Utica Shale in the St. Lawrence Lowlands, RJK realized it had\na very short window of opportunity to participate," says Glen Kasner,\nPresident. "Rather than just acquiring some of the remaining open areas 'in\nthe neighborhood', RJK decided to conduct detailed research of old petroleum\ndrilling records in order to determine which of the remaining open areas were\nprospective. As a result of that research, a number of permits were applied\nfor that either encompass or are close-in to wells which were drilled in the\n1940's and the 1970's and had either intersected the Utica shales or had\nflowed gas from the shales in the same geological structures, while the others\nare in close proximity and in a similar geological structure."\n\n\nRJK is continuing to conduct additional research to determine whether\nthere are any other prospective areas still available for acquisition. A\nfinder's fee will be paid in association with these acquisitions. The finder's\nfee and the acquisitions remain subject to regulatory approval.\n\n\nForward Looking Statements: This news release contains certain\nforward-looking statements. These forward-looking statements are subject to a\nvariety of risks and uncertainties beyond RJK's ability to control or predict\nwhich could cause actual events or results to differ materially from those\nanticipated in such forward-looking statements. Although RJK believes that the\nassumptions inherent in the forward-looking statements are reasonable, undue\nreliance should not be placed on these forward-looking statements.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept the\n\n\nres...