(450) 766-0861
jccaron@squatex.com

Press release

Resources & Energy Squatex Inc.: New partnership agreement with INRS / NSERC and adoption of a stock option plan

BROSSARD, QUEBEC–(Marketwired – June 8, 2017) – The management of Resources & Energy Squatex Inc. (CSE:SQX)(CSE:SQX.CN)(CNSX:SQX) (Squatex) is pleased to announce that it has entered into a new research and partnership agreement with the National Institute for Scientific Research (INRS-ETE) and the Natural Sciences and Engineering Research Council of Canada (NSERC).

This agreement is a continuation of a development program that Squatex began in 2015 with INRS. This work will be necessary to develop and improve a methodology for the analysis of the porosity in drill cores by three-dimensional digital imaging (tomodensitometry). The data thus obtained on the petrophysical properties of the rock will allow us to know faster and more precisely the heterogeneous conventional carbonate reservoirs such as those encountered in Massé.

Mr. Jean-Claude Caron, Executive Chairman and Chief Executive Officer of Squatex, commented: “Squatex is a pioneering company that is once again emerging from the beaten track and I believe that academic and industrial partnerships like this one are essential for the development of the oil and gas industry in Quebec.”

Squatex also announces the adoption by the Board of Directors of a stock option plan (the Plan) on June 5, 2017 and the allocation, on June 6, 2017, of 1 million options to certain directors. The price was set at $ 0.35 per share and the maturity date for these options was set on June 5, 2022. These options will vest over a one-year period.

About Resources & Energy Squatex Inc.

Squatex is a junior oil and gas exploration company established in 2001 whose principal activity is to carry out work and studies for the assessment and development of its oil and gas potential of 656,093 Hectares under exploration permits in Quebec. Squatex holds 224,933 ha (70% Net) of exploration permits in the St. Lawrence Lowlands region and 431,160 ha (70% Net) of licenses in the Lower St. Lawrence region.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may include, but is not limited to, statements regarding future plans, costs, objectives or performance of Squatex, or the assumptions underlying any of these elements. Forward-looking information should not be interpreted as a guarantee of future performance or results and is not necessarily a guide to the achievement of such performance or results or the timing of such achievement performance or results. There can be no assurance that events anticipated in the forward-looking information will occur or will be produced, including the development of Squatex’s properties, or if they are realized, the benefits that Squatex will derive from it. The forward-looking information is based on information available at the time it is made and / or in good faith with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the control of Squatex. Actual events or results could differ materially from those anticipated in the forward-looking statements. Squatex does not intend to update or revise any forward-looking information contained in this press release to reflect future information, events or circumstances or otherwise and does not undertake to update or revise any forward-looking information contained in this press release, unless required to do so by applicable law.

Squatex to use Fire Creek engineering services

BROSSARD, QUEBEC–(Marketwired – May 25, 2017) – The management of Resources & Energy Squatex Inc. (CSE:SQX)(CSE:SQX.CN)(CNSX:SQX) (Squatex) is pleased to announce that it has entered into an engineering services agreement with Calgary based Fire Creek Ressources Ltd (Fire Creek).

For several years, Squatex has specialized in the technique of small diameter drilling (slim hole) for its exploration. This technique represents a major breakthrough in Quebec in terms of environmental impact because it uses less water, less energy, and requires a much smaller area of land (90% less) than traditional oil drilling techniques. Squatex wanted to add to its team professionals with the same values of respect for the environment. Fire Creek has more than 23 years of experience in more than 22 countries on 6 continents and is recognized as a world leader in the engineering of all types of drilling and related operations leading to the production of reservoir zones. Fire Creek has specialists in various fields of oil and gas development and significant amount of wells drilled safely and successfully, including in Quebec. Fire Creek will be a major asset for the development of conventional reservoirs in the Massé structure in the Lower St. Lawrence (see press release dated May 17th 2016).

Mr. Jean-Claude Caron, Executive Chairman and Chief Executive Officer of Squatex comments: «Squatex is a 100% owned Quebec company with deep environmental and social values. I maintain that the development of hydrocarbons in Quebec can be done with respect for the environment and communities. I believe Squatex, by developing innovative techniques, backed by world-renowned professionals in its future exploration and production projects, will become a benchmark in the field. In so doing, Quebec will have the chance to become a leader in the clean and socially acceptable development of hydrocarbons.»

The President of Squatex takes the opportunity to comment on a recent poll commissioned by the Montreal Economic Institute (MEI) at Léger, which ran from April 17 to 19, 2017 in all regions of Quebec: «The results show that 56% of Quebeckers think we should develop our own hydrocarbon resources. It should be noted that we consume 300,000 barrels per day of imported oil day in Quebec and that the purchase of these barrels causes our economy to lose more than $ 20 million per day. » Mr. Caron adds: «Now that we have a law to regulate the development of hydrocarbons, it would be time to take example from Norway and develop our resources to use the income generated by the oil and gas sector to achieve the energy transition in Quebec more quickly. We are fortunate to be rich in natural resources, so accept to be a wealthy society and give ourselves the means to become an example of good resource management while protecting the environment. »

About Resources & Energy Squatex Inc.

Squatex is a junior oil and gas exploration company established in 2001 whose principal activity is to carry out work and studies for the assessment and development of its oil and gas potential of 656,093 Hectares under exploration permits in Quebec. Squatex holds 224,933 ha (70% Net) of exploration permits in the St. Lawrence Lowlands region and 431,160 ha (70% Net) of licenses in the Lower St. Lawrence region.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may include, but is not limited to, statements regarding future plans, costs, objectives or performance of Squatex, or the assumptions underlying any of these elements. Forward-looking information should not be interpreted as a guarantee of future performance or results and is not necessarily a guide to the achievement of such performance or results or the timing of such achievement performance or results. There can be no assurance that events anticipated in the forward-looking information will occur or will be produced, including the development of Squatex’s properties, or if they are realized, the benefits that Squatex will derive from it. The forward-looking information is based on information available at the time it is made and / or in good faith with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the control of Squatex. Actual events or results could differ materially from those anticipated in the forward-looking statements. Squatex does not intend to update or revise any forward-looking information contained in this press release to reflect future information, events or circumstances or otherwise and does not undertake to update or revise any forward-looking information contained in this press release, unless required to do so by applicable law.

Squatex Energy and Ressources to commence trading on Canadian Securities Exchange.

BROSSARD, QC, March 30, 2017 /CNW Telbec/ – Squatex Energy and Ressources Inc. (“Squatex”) (CSE: SQX), a Québec-based oil and gas exploration company, is pleased to announce that its common shares will commence trading on the Canadian Securities Exchange (CSE) at the opening of the market on Monday, April 3, 2017 under the stock symbol “SQX” (ISIN number CA 85224X1087).

Mr. Jean-Claude Caron, President and CEO of Squatex, says: “I am proud and very pleased that after more than 16 years of hard work, the company I founded in 2001 became Quebec’s first oil and gas company to be listed on the stock market for more than a decade. The adoption of Bill 102 on the environment and Bill 35 on the development of hydrocarbons in Québec finally provides a clear legislative framework regulating oil and gas exploration from a technical as well as environmental point of view. These laws are an important step forward, now making the political and social environment favorable for Squatex to continue its explorationanddevelopmentwork.” Mr.Caron adds:”The Massé structure with its conventional reservoirs that require no hydraulic fracturing covers at least 80 km2, or approximately 2% of the territory covered under research permits in the Lower St. Lawrence (4,313 km2).”

Squatex’s planned exploration program for the next two years will provide a better understanding of the exploitable potential of its oil and gas exploration permits.

About Squatex Energy and Ressources Inc.

Squatex is a Québec-based junior oil and gas exploration company established in 2001 which main activity is, as operator, to carry out works and studies aiming at the evaluation and the development of the oil and gas potential of a territory of 656,093 hectares under exploration permits in the Province of Québec. Squatex holds a 70% net interest in 224,933 ha of exploration permits in the St. Lawrence Lowlands and in 431,160 ha of permits in the Lower St. Lawrence region.

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Squatex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”and similar words and the negative form there of are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of Squatex’s properties, or if any of them do so, what benefits Squatex will derive. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Squatex’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risks and Uncertainties” in Squatex’s Management’s Discussion and Analysis for the fiscal year ended March 31, 2016, and under “Risk Factors” in Squatex’s Listing Statement (CSE Form 2A) dated February 27, 2017 copies of which are available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Squatex does not intend, nor does Squatex undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Squatex Energy and Ressources to list on the Canadian Securities Exchange

BROSSARD, QC, Feb. 28, 2017 /CNW Telbec/ – Squatex Energy and Ressources Inc. (“Squatex“) announces that it has received conditional approval to list its common shares on the Canadian Stock Exchange. It is expected that the common shares of Squatex (ISIN number: CA 85224X1087) will commence trading on the Canadian Stock Exchange in mid-march 2017 under the symbol “SQX”, after delivery by Squatex of standard listing documentation to the Canadian Stock Exchange, including a Form 2A – Listing Statement, which was filed by Squatex earlier today. Squatex will issue a press release announcing the date on which its shares will start trading on the Canadian Stock Exchange.

About Squatex

Ressources & Énergie Squatex Inc. is a junior oil and gas exploration company which was incorporated under the Canada Business Corporations Act on April 12th, 2002 and whose registered office is at 7055, Taschereau boulevard, suite 500, Brossard (Quebec) J4Z 1A7. The main activity of the company is, as operator, to carry out work and studies aimed to the assessment of the oil and gas potential of a territory of 656,093 hectares under exploration licenses. Squatex holds a 70% net interest over 217,370 Ha in the St. Lawrence Lowlands area and over 431,339 Ha in the Lower St. Lawrence areaSquatex also holds a 28% net interest in 8000 Ha under another farm-out agreement in the St. Lawrence Lowlands.

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Squatex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements.  Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of the Squatex’s properties, or if any of them do so, what benefits Squatex will derive.  Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Squatex’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Financial Instruments” and “Risks and Uncertainties in Squatex’s Management’s Discussion and Analysis for the fiscal year ended March 31, 2016, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Squatex does not intend, nor does Squatex undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

The adoption of the new hydrocarbons law in Quebec, a benefit for all

BROSSARD, QCDec. 14, 2016 – The management of Ressources and Énergie Squatex Inc. (Squatex), welcomes the adoption of the new law 106 leading the development of hydrocarbons in Quebec. After more than 10 years of work, two BAPEs and a strategic environmental study encompassing more than 70 detailed research topics linked to oil and gas activities, the Government of Québec adopted a new regulatory framework early Saturday morning on December 10th. Québec thus becomes one of the jurisdictions in the world where exploration and production of hydrocarbons are regulated in the safest way for the benefit of the population and the environment. Squatex believes that the various players involved in this nascent industry in Quebec will be able to achieve a harmonious and profitable development under this new regulation.

Squatex also wishes to mention that a drilling rig and all the necessary equipment were mobilized last fall on the Massé 2 site to carry out a reconditioning of the borehole in order to maintain the integrity and safety of the well structure. An appreciable amount of oil was collected in the drilling mud throughout this work and a sampling showed an oil specific gravity of 22.4 API. Squatex is awaiting the government permits required to complete the research work undertaken on this site in the fall of 2014 and the  equipment being already on the site, this will allow an early resumption of work in the spring of 2017.

Squatex President Mr. Jean-Claude Caron commented, “The government of Quebec with its new legislation paves the way for a new prosperity of the province. After all these years of uncertainty, investors will finally be able to assess the financial risks inherent in hydrocarbon exploration in Quebec. In the petroleum sector, predictability is proof of everything and the step taken by the government now allows me to see the future as very promising for our company, our partners and for the entire population of Quebec. We are at Squatex very enthusiastic at the idea of being now able to carry out tests of rock formations in the Massé Structure which in our opinion could prove to conceal a giant oil field. “

Lower St. Lawrence – Several tens of millions barrels of oil and very large volumes of gas could be present in the conventional reservoirs of the Massé structure

BROSSARD, QCMay 17, 2016 – Ressources & Energy Squatex ( “Squatex” or the “Company”) and its partner Petrolympic Ltd. ( “Petrolympic”) (TSXV: PCQ) (OTCQB: PCQRF) are pleased to announce the results of a major reassessment of resources for the eastern part the Massé structure performed independently by Sproule Associates Limited ( “Sproule”). The Massé structure is located in the Lower St. Lawrence permits, some 25 km southeast of Mont-Joli, in the Appalachian Basin of Quebec. Squatex owns a 70% interest in 656,093 hectares (1,621,241 acres) of exploration permits in Quebec over which it is the operator under a joint operation agreement with Petrolympic (30%).

The resources reassessment reported by Sproule includes an authentication of in depth analyzes performed by the Squatex’s technical team on the Massé No.2 well logs. These new data completes and confirms the initial data previously acquired in the Massé No.1 well for the eastern part of the Massé structure. Sproule considers that the results of its resources simulations could extend over a probable average area of 5.2 km2.

The potential resources evaluated by Sproule are related to porous levels in the St. Leon and Sayabec Formations encountered in the wells drilled in the eastern part of the Massé structure. The results of the study point out to a  potential of 53.6 BCF of gas and 52.2 million barrels of oil over a probable average area of 5.2 km2, an oil equivalent total of 61.1 million barrels (MMBOE).

Resource volumes for Massé have been increased significantly compared to the previous estimate done in 2014 with the addition of a very important oil volume. Gas resources are also improved considerably following the analysis based on the logs recorded in the Massé No.2 well.

The gross pay of the Silurian basin rock of the Lower St. Lawrence extends up to a nearly 540m thick interval recognized by Sproule from the logs in which the net pay varies between 66m and 210m averaging, 130m in thickness. These porous zones are more than encouraging for further work and validate the potential of this region of the Lower St. Lawrence area.

Jean-Claude Caron, President and Chief Executive of Squatex, declares: « Results of the Sproule report make me believe that Massé could be one of the most important discoveries of conventional oil and gas reservoirs made to date in Quebec ». Indeed, the Sproule Report points out a probable presence of 10.3 BCF of gas and 10 MMbbl oil per square kilometer. According to an internal study of Squatex’s technical team, the Massé structure could extend over more than 80km2. Several porosity anomalies observed on seismic having close similarities the anomalies confirmed by the Massé No.1 and No. 2 wells were also highlighted further west within the property. The assessment done by Sproule does not take into account the presence of these seismic features, these ones being located in their view too far away from the drilled wells. Their occurrence nevertheless represents a significant potential for the Property. Results of the current Sproule study illustrate the rightful vision and efforts of Squatex and Petrolympic who pioneered the development of the oil and gas potential of the Lower St. Lawrence.

sproule_en

NOTES

1.

Undiscovered Petroleum Initially-in-place (equivalent to undiscovered resources) is the quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to be discovered. The recoverable portion of undiscovered petroleum initially in place is referred to as “prospective resources”, the remainder as “unrecoverable”. Only the in-place volumes are presented here as a development project to recover any hydrocarbons discovered has not been defined. There is no certainty that any portion of these unrisked undiscovered GIIP will be discovered and, if discovered, there is no certainty that it will be developed or, if it is developed, there is no certainty as to either the timing of such development or whether it will be commercially viable to produce any portion of these resources.

2.

These are the project gross unrisked undiscovered petroleum initially in place volumes (i.e. 100% project gross) estimated for the Sayabec Formation of the Massé Structure without any adjustments for working interest and before deduction of any royalties.

3.

“BCF” is billions of cubic feet, “MMboe” is millions of barrels of oil, “MMBOE” is millions of barrels of oil equivalent. BOE’s may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalent conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

4.

Low Estimate is considered to be a conservative estimate of the quantity that will actually be in-place. It is likely that the actual remaining quantities in-place will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the quantities actually in-place will equal or exceed the low estimate.

5.

Best Estimate is considered to be the best estimate of the quantity that will actually be in-place. It is equally likely that the actual remaining quantities in-place will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the quantities actually in-place will equal or exceed the best estimate.

6.

High Estimate is considered to be an optimistic estimate of the quantity that will actually be in-place. It is unlikely that the actual remaining quantities in-place will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability (P10) that the quantities actually in-place will equal or exceed the high estimate.

7.

Statistical aggregation is the process of probabilistically aggregating distributions that represent estimates of resource quantities at the reservoir, prospect, or portfolio level. Arithmetic summation and statistical aggregation of the means yield similar results. Arithmetic summation of the Low Estimate, Best Estimate and High Estimate are not statistically appropriate. Both the statistical and arithmetic summation of the unrisked prospects may be misleading because it assumes success for each of the prospect entities. The chance of this occurring is extremely unlikely. Actual recovery is likely to be less and may be zero.

 

Squatex and its partner Petrolympic are currently setting up a new drilling program to further validate the potential of the Massé structure and they also intend to keep on with the coring exploration program to validate and test similar prospective structures that have been identified over their permits.

About Ressources & Energie Squatex Inc.

Ressources & Énergy Squatex Inc. is a junior oil and gas exploration company which was incorporated under the Canada Business Corporations Act on April 12, 2002 and whose registered office is at 7055, Boul. Taschereau, suite 500, Brossard (Quebec), J4Z 1A7. The main activity of Squatex is, as operator, to carry out work and studies aimed to the assessment of the oil and gas potential of its territory under exploration licenses. The current oil and gas exploration permits held by the Company in the Province of Québec cover 656 093 hectares (1,633,672 Acres) of land.  Squatex is holding a 70% net interest over 216,933 Ha (536,051 acres) in the St. Lawrence Lowlands area between Quebec and Montréal under a joint venture agreement with Petrolympic Ltd (TSXV :  PCQ, OTCQB.PCQRF)  and a 28% net interest in the Utica and Loraine Formations over 8000 Ha (19,768 acres) under a farm-out agreement to Canbriam Energy Inc.  Squatex also hold a 70% net interest over 431,160 Ha (1,065,415 acres) in the Lower St. Lawrence area in which the Massé Structure is located, under the same joint venture agreement with Petrolympic Ltd.

About Petrolympic Ltd

Petrolympic is a Canadian junior oil and gas company actively exploring for premium crude oil and natural gas in North America. The Company has an oil asset in the prolific Maverick Basin of Texas, USA. The Company also holds an interest in a total of 752,933 hectares (1,860,530 acres) of oil and gas exploration permits in the Appalachian Basin of Quebec that include holdings in the St. Lawrence Lowlands and Gaspe Peninsula. The Company’s holdings in the St. Lawrence Lowlands consist of a 30% interest in 216,933 hectares (536,051 acres) through a joint venture with Squatex, a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 56,152 hectares (138,754 acres) located over the Lowlands shallow carbonates platform on the south shore of the St. Lawrence River, less than 30 kilometers southwest of Montreal.  These properties represent a major position in the Utica Lorraine and Trenton-Black River Plays. Petrolympic also maintains holdings in the Gaspé and Lower St. Lawrence regions, including a 30% interest in 431,160 hectares (1,065,415 acres) through a joint venture with Squatex and a 100% interest in a block of exploration permits totaling 40,688 hectares (100,542 acres) located between Rimouski and Mataneprospective for hydrothermal dolomite hosted light oil.

Forward Looking Statements 

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or future economic performance of  Ressources & Energie Squatex inc and Petrolympic Ltd and involve risks, uncertainties and other known and unknown factors that may appreciably affect their results, performance or achievements compared to what expressed or implied by the statements of Squatex /Petrolympic. Actual events or results could differ. Consequently, the decision to invest in securities and Squatex /Petrolympic should at no time be based on such statements. Squatex /Petrolympic disclaims any intention and assume no obligation to update such statements.

Neither the TSX venture exchange nor its regulations services provider have reviewed or accepted responsibility for the adequacy or accuracy of this release.

 

SOURCE Ressource et énergie Squatex 

For further information: M. Jean-Claude Caron, President at 450-766-0861 (jccaron@squatex.com); M. Mario Lévesque, Development Manager at 418-391-1155 (mlevesque@squatex.com)

SQUATEX NAMES AN INDEPENDENT CONSULTANT RECOGNIZED AMONGST THE CREE FIRST NATIONS

BROSSARD, QC, Sept. 21, 2015 /CNW Telbec/ – The management of Ressources & Énergie Squatex Inc. (Squatex) is pleased to announce that the services of Mr. Matthew Mukash, B. A., from Whapmagoostui (Hudson Bay), have been retained as an independent contractor to act as a link between Squatex and the Cree First Nations to create business relationships related to the oil and gas exploration project of the Lower St. Lawrence permits area.

Mr. Matthew Mukash, B. A. is an independent consultant offering services to various clients, such as the Cree Board of Health and Social Services of James Bay (CBHSSJB), the Whapmagoostui First Nation (WFN) and its subsidiaries, including the Whapmagoostui Eeyou Enterprise Development Corporation (WEEDCo). Mr. Mukash is also president of Nimschu-Iskudow Inc. (NI), a Cree-owned company currently developing a hybrid power plant project for Whapmagoostui/Kuujjuarapik. Mr. Mukash also served as Chief of the WFN for seven years until he was elected Deputy Grand Chief of the Cree Nation in 1999. In 2005, after serving the Cree Nation through a number of important roles, Mr. Mukash was elected Grand Chief/Chairman of the Grand Council of the Crees/Cree Regional Authority (Eeyou Istchee) (GCCEI/CRA) and served in this capacity for a term of four years. In 2008, Mr. Mukash was appointed by the federal government to the National Aboriginal Economic Development Board (NAEDB) which acts as a link between federal policy makers, legislators, government departments, and aboriginal and nonaboriginal business and community leaders, providing counsel on all matters pertaining to aboriginal economic development.

Squatex is confident that Mr. Mukash’s contribution will bring to the workforce a valuable addition about his expertise within the First Nations.

Mr. Jean-Claude Caron, the president of Squatex who has been living for many years in close relationship with the Cree Nation in Whapmagoostui comments: “It is one of my goals, as an entrepreneur, to develop a good business relationship between Squatex and the First Nations.

About Ressources & Énergie Squatex Inc.

Ressources & Énergie Squatex Inc. is a junior oil and gas exploration company which was incorporated under the Canada Business Corporations Act on April 12, 2002 and whose registered office is at 7055, boulevard Taschereau, suite 500, Brossard (Quebec), J4Z 1A7. As operator, the main activity of the company is to carry out work and studies aimed to the assessment of the oil and gas potential of a territory of 656,093 hectares under exploration licenses. Squatex holds a 70 % net interest over 217,370 hectares in the St. Lawrence Lowlands area and over 431,339 hectares in the Lower St. Lawrence area. Squatex also holds a 28 % net interest in 8000 hectares under another farm-out agreement in the St. Lawrence Lowlands.

Forward Looking Statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or future economic performance of Squatex and involve risks, uncertainties and other known and unknown factors that may appreciably affect their results, performance or achievements compared to what expressed or implied by the statements of Squatex. Actual events or results could differ. Consequently, the decision to invest in securities and Squatex should at no time be based on such statements.

Squatex disclaims any intention and assume no obligation to update such statements.

SOURCE Ressource et énergie Squatex

%SEDAR: 00032253E

For further information: Source: Mr. Mario Lévesque, Development director, Ressources & Énergie Squatex, 450 766-0861, 418 391-1155

CO: Ressource et énergie Squatex

CNW 11:18e 21-SEP-15

MAJOR UNIVERSITY PARTNERSHIP FOR SQUATEX IN THE LOWER ST. LAWRENCE AREA

Brossard, August 2015 – The management of Ressources & Énergie Squatex Inc. (Squatex) is pleased to announce the conclusion of an academic partnership with the Institut National de Recherche Scientifique (INRS) to conduct important geosciences studies in the Lower St. Lawrence area. These studies will provide a 3D modeling and a determination of the reservoir potential of the Sayabec Formation.

Until recently, the Lower St. Lawrence, unlike the Gaspé peninsula, remained an area that has known little geological work. Squatex, which has been conducting exploration work for several years in the Lower St. Lawrence / Gaspé area, collected numerous surface and subsurface data that have greatly refine the existing geological maps and recently discovered a new oil basin. In addition, different drilling data (cores, logs) revealed the presence of several distinct dolomitized and / or fractured areas, sometimes associated with oil and gas shows. The cooperation agreement with INRS aims, among others, to determine the spatial and temporal extent of these zones and their modes and stages of formation.
This postdoctoral project, with the financial support of the program Mitacs Acceleration Quebec (MITACS), will bring the expertise in Quebec petroleum geology that was developed by a dedicated research team at INRS in synergy with the expertise of Squatex who acquired numerous unpublished surface and subsurface data in the study area. This work will improve the understanding of the complex stratigraphic and structural geological system involved and validate the potential of energy resources.
Squatex is proud to participate in improving the geological knowledge of the area by supplying its data and its own expertise to the benefit of the scientific community through the INRS. Squatex considers that this first university-industry collaboration will help target the location of potential Silurian reservoirs in the Lower St. Lawrence.
About INRS

The Institut National de Recherche Scientifique is a research university training the 2nd and 3rd cycles. First in Canada for research intensity (grants per professor), INRS plays a key role in the advancement of knowledge, the development of concrete solutions and the training of highly qualified young scientists in strategic areas of research both in Quebec and abroad.
About MITACS

MITACS is a non-profit Canadian organization that has been designing and implementing research and training programs in Canada for the last 15 years. Together with 60 universities, thousands of companies and the federal and provincial governments, MITACS builds partnerships supporting the industrial and social innovation in Canada.
About Ressources & Énergie Squatex Inc.

Ressources & Énergy Squatex Inc. is a junior oil and gas exploration company which was incorporated under the Canada Business Corporations Act on April 12, 2002 and whose registered office is at 7055, Boul. Taschereau, suite 500, Brossard (Quebec) J4Z 1A7. The main activity of the company is, as operator, to carry out work and studies aimed to the assessment of the oil and gas potential of a territory of 656,093 hectares under exploration licenses. Squatex holds a 70% interest over 217,370 Ha in the St. Lawrence Lowlands area and over 431,339 Ha in the Lower St. Lawrence area in a joint operation with Petrolympic Ltd. (TSXV: PCQ). Squatex also holds a 28% interest in 8000 Ha under a farm-out agreement with Canbriam Energy Inc.

Forward Looking Statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or future economic performance of Squatex and involve risks, uncertainties and other known and unknown factors that may appreciably affect their results, performance or achievements compared to what expressed or implied by the statements of Squatex. Actual events or results could differ. Consequently, the decision to invest in securities and Squatex should at no time be based on such statements. Squatex disclaims any intention and assume no obligation to update such statements.

 

CONTINUATION OF THE STRATIGRAPHIC CORING PROGRAM NEAR MASSÉ

BROSSARD, QC, July 31, 2015 /CNW Telbec/ – The management of Ressources & Energy Squatex Inc. (“Squatex”) is pleased to announce that it intends to continue its exploration program this fall in the Lower St. Lawrence to evaluate the possible extension of the Massé structure.

The stratigraphic coring Massé No.1 and No.2 obtained significant shows of gas with condensate and oil (20° API). These holes were drilled on seismic AVO anomalies type (amplitude vs. offset) indicating the probable presence of reservoirs with significant porosity in zones of hydrothermal dolomitization within the Sayabec Formation. The geophysical interpretation performed by Squatex shows that AVO anomaly zones observed could extend over more than 300 km2, which, using the parameters measured in the Massé wells and confirmed by Sproule, could allow for the presence of a reservoir rock that could contain an median volume of gas in place of 300 BCF and more.

By the end of 2015, Squatex will make all efforts needed to evaluate the potential of Massé’s structure. Furthermore, within its 2015/2016 exploration program, Squatex plans to drill three additional stratigraphic core holes respectively reaching depths of 1600, 1800 and 2000 meters over porosity anomalies located at 5 Km, 10 Km and 20 Km from the Massé No.1 and No.2 locations. Tested drilling equipment similar to those used last year, with an internal mud circulation and security systems adapted to smaller diameters, will be used. The drill sites were selected from seismic interpretations and geological correlations with the Massé structure. This new drilling campaign is conditional upon Squatex obtains sufficient funding.

About Ressources & Energy Squatex Inc.

Ressources & Energy Squatex Inc. is a junior oil and gas exploration company which was incorporated under the Canada Business Corporations Act on April 12, 2002 and whose registered office is at 7055, Boul. Taschereau, suite 500, Brossard (Quebec) J4Z 1A7. The main activity of the company is, as operator, to carry out work and studies aimed to the assessment of the oil and gas potential of a territory of 656,093 hectares under exploration licenses. Squatex holds in the St. Lawrence Lowlands area a 70% interest in 217,370 Ha in the form of a joint operation agreement with Petrolympic Ltd. (TSXV: PCQ) and a 28% interest in 8000 Ha under a farm-out agreement between Squatex Petrolympic Ltd. and Canbriam Energy Inc. Squatex also owns in the Lower St. Lawrence area a 70% interest in 431,339 Ha in the form of a joint operation agreement with Petrolympic Ltd.

www.squatex.com

Forward Looking Statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or future economic performance of Ressources & Energy Squatex Inc. and involve risks, uncertainties and other known and unknown factors that may appreciably affect their results, performance or achievements compared to what expressed or implied by the statements of Ressources & Energy Squatex Inc. Actual events or results could differ. Consequently, the decision to invest in securities and Ressources & Energy Squatex Inc. should at no time be based on such statements. Ressources & Energy Squatex Inc. disclaims any intention and assume no obligation to update such statements.

OIL & GAS POTENTIAL OF THE LOWER ST. LAWRENCE IS TAKING SHAPE

Brossard, Québec, February 18th 2015 – Ressources & Energie Squatex Inc. (¨Squatex¨) is enthusiastic about the very interesting results obtained in the Squatex Massé No.2 stratigraphic core hole and informs that work on the well has been suspended on November 28 for the winter season, local circulation being prohibited between December 1 and May 1. Squatex and its 30% interest partner Petrolympic Ltd. have taken the decision to evaluate the well next spring using slim hole tools to measure the potential of production from each hydrocarbon zone identified in this second deep stratigraphic hole over the Massé structure located in their Lower St. Lawrence area permits (the Property).

The Massé No.2 well has met the expected objectives in the Silurian sequence and reached a total depth of 1970,4 meters ending in Cambrian-ordovician rocks. A complete series of logs was recorded by SEMM Logging («Semm») before suspending the well. Three distinct fractured zones, the first two in the St. Leon Formation at 693 meters and at 820 meters and the third in the Val Brillant Formation at 1896 meters have presented important gas shows. Furthermore, some oil started to appear at surface in the mud tank when the drilling bit met other fractures located below 1040 meters and oil continued to accumulate until reaching TD.

Hydrocarbons samples analyses results obtained by Agat Laboratories indicate that gas found in the Massé No.2 well contains an important quantity of liquid gas (C2-C8) in the order of 100ml per cubic meter, without H2S. Analyses performed on oil samples indicate a dark brown colour (D8) oil having a density of 19.85° API containing 0,953% sulfur.

The well cores and the logs analyse demonstrate a very high fractures occurrence in the Sayabec and Val-Brillant Formations and indicate a cap rock over the Massé structure formed by a 800 meters thick homogeneous non porous St. Leon siltstones. Similar observations were previously made in the Massé No.1 stratigraphic well located nearby.

The Massé No.2 stratigraphic core hole was suspended at the end of November by installing a well head equipped with automated measure instruments and the site was secured for the winter period. Squatex is currently active in having the necessary slim hole tools made to perform tests on the well. After obtaining the necessary permits from the government and when access roads are open in the spring, the work will resume on the well to evaluate the potential of each zone of interest.

The Massé No.2 well has given us a number of pertinent information that open additional possibilities to explore for oil over a new type of prospects in the general area: Pinnacle reefs within the basal St. Leon and Sayabec Formations near the embankment of the ancient continental slope. Highly fractured and dolomitized zones found at the base of the Silurian over the structure remains the other highly interesting play to explore for gas accumulations migrating from deeper Ordovician rocks.

With these recent outstanding exploration results obtained in the Lower St. Lawrence area, Squatex and its partner Petrolympic Ltd. are encouraged in pursuing their deep stratigraphic coring program again next summer after running productivity tests on Massé No.2. The Marleau No.1 drilling site has been located to test the next fault compartment block at about 3 kilometers to the south of the Massé No.2 well and will explore the same targets laterally. Positive tests results on the Massé No.2 well and success in the Marleau No.1 well could rapidly open a further step toward a the development of oil and gas production in the Lower St. Lawrence area.

About Ressources & Energie Squatex

Ressources & Energie Squatex is an oil and gas exploration company created in on April 12, 2002 under the Canada Business Corporation Act having its main office located at 7055, Boul. Taschereau, suite 500, Brossard (Québec) J4Z 1A7.  Squatex is a reporting issuer only in the province of Québec. Its shares are not traded in any formally organized stock exchange market.  The main objective of the company is, as the operator, to carryout exploration work in order to evaluate the oil and gas potential of a territory under leases covering 656 093 Ha.  Squatex owns in the St. Lawrence Lowlands a 70% interest over 217 370 Ha under a joint venture agreement with Petrolympic Ltd (TSXV: PCQ) and a 28% interest over 8000 Ha that were farmed out to Canbriam Energy Inc.  Squatex also owns a 70% interest over 431 339 Ha in the Lower St. Lawrence under its joint operation agreement with Petrolympic Ltd.

 

Forward-looking statements 

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Ressources & Energie Squatex and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications o statements made by Ressources & Energie Squatex. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Ressources & Energie Squatex does not intend and undertakes no obligation to update these forward-looking statements.

For information, please contact Mr. René Guimond ,CPA,CGA, Chief Financial Officer at 450-466-1313.