(450) 766-0861
jccaron@squatex.com

Press release

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.

GAS AND HEAVY OIL SHOWS DURING DRILLING OPERATIONS OF THE MASSÉ NO. 2 STRATIGRAPHIC CORE HOLE IN THE LOWER ST. LAWRENCE AREA

Brossard, Québec, November 7, 2014 – Ressources et Énergie Squatex Inc. (« Squatex ») is please to announce that its drilling operations of the Squatex Massé No.2 stratigraphic core hole which started on September 20 are proceeding as initially planned. The well is drilled on the Massé area on its joint venture property in the Lower St. Lawrence area (the ” Property”) located in the Appalachian Basin of Quebec, in partnership with Petrolympic Ltd. (” Petrolympic”).

Up to now, important gas and heavy oil shows were seen during coring and will be evaluated at the end of field operations. Expected total depth of the Massé No.2 hole is 2,100 meters in order to go through geophysical anomalies within the Sayabec Formation limestone. After drilling is complete, the well will be logged and flow tested and the results will be announced.

In the past, not enough studies were done in the area and only five exploration wells have been drilled in the Lower St. Lawrence. These wells did not met the objective expected. After many years of studies and a complete revision of the geology and the oil and gas parameters of the region, Squatex and its partner Petrolympic realised that the oil and gas potential of this collapsed basin could be very different. Yet the partnership was able to identify substantial positive evidence to justify further exploration based on new concepts, including hydrothermal dolomitization and the presence of reefs in the Sayabec Formation.

The heavy oil shows that are observed up to now in the Massé No.2 well are indicating that the area under study have a very good oil and gas potential and that the Silurian section could become very prolific because of the known presence of reefs in the Sayabec Formation. Squatex and its partner Petrolympic are very happy to have initiated this new exploration play and to participate in opening new leads for oil and gas discoveries in Québec.

About Squatex

Squatex is a junior oil and gas exploration company incorporated on April 12, 2002 under the Canada Business Corporations Act having its head office at 7055, Taschereau Blvd., Suite 500, Brossard, Québec J4Z 1A7. Squatex is a reporting issuer only in the province of Québec and its shares are not traded on any organized stock market. The main objective of Squatex is, as operator, to carry out 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 8,000 Ha pursuant to a farm-out agreement entered into between Squatex, Petrolympic Ltd. and Canbriam Energy Inc. Squatex also owns a 70% interest over 431,339 Ha in the Lower St. Lawrence under its joint venture 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 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 or statements made by Squatex. Actual events or results could be significantly different. Squatex does not intend and undertakes no obligation to update these forward-looking statements.

For further information, please contact Mr. René Guimond, CPA, CGA, Vice-President Finance, at 450-766-0861.

“SPROULE ASSOCIATES LIMITED” CONFIRMS THE PRESENCE OF NATURAL GAS

Independent Report by “Sproule Associates Limited” Confirms the Presence of Conventional Natural Gas in the Massé Structure

BROSSARD, QUÉBEC (April 11, 2014) – Ressources & énergie Squatex Inc. (“Squatex” or “The

Company“) and their partner Petrolympic Ltd. (“Petrolympic“) (TSX.V: PCQ) are pleased to announce the results of an independent resource evaluation carried out by Sproule Associates Limited (“Sproule“) on a structure drilled on their joint venture property in the Lower St. Lawrence area (the “Property“) located in the Appalachian Basin of Quebec. Squatex holds an interest in 656 093 hectares (1 621 241 acres) of the Property of which it is the operator, through its joint-venture with Petrolympic.

The results of this independent evaluation (as shown in Table 1 below) are based on the data gathered when drilling the Mass. No.1 core hole. The results of the evaluation builds on the data released by Squatex in it’s press release dated November 15, 2013 (filed on www.sedar.com). Paul Laroche, Chief Geologist with Squatex provides the following comments: “The well revealed a reservoir hosted in the Silurian Sayabec Formation and consisting of a 10 meter-thick interval of hydrothermally dolomitized limestone with high porosity and permeability values up to 20.8% and 1624 mD, respectively (as shown in Table 2 below). Contrary to shale gas, these types of reservoirs do not require hydraulic fracturation. The analysis of the gas charge of the reservoir indicated it is composed of 89% methane and devoid from hydrogen sulfide.”

Jean-Claude Caron, President and CEO of Squatex draws a comparison between the Property and St.Flavien reservoir in the St. Lawrence Lowlands – one of the only two reservoirs that have produced natural gas in economic quantities in Quebec: “The parameters reported from Mass. No.1 core hole are similar to St. Flavien reservoir, which is also hosted in hydrothermally dolomitized limestone with thickness varying between 1 and 8 meters, porosity values ranging from 2.5-10% (average between 3-5%). St. Flavien reservoir has produced 5.7BCFG prior to being converted into an underground gas storage facility that is still in operation since 1998.”

The results obtained by Squatex and Petrolympic in the Lower St. Lawrence are encouraging and present additional opportunities since the evaluation is focused on only one of the three hydrocarbon-bearing zones identified in the well. Furthermore, several seismic anomalies with characteristics similar to Mass. No.1 core hole have also been highlighted by the proprietary seismic data within the limits of the Property. This is not included in the Sproule resource evaluation and presents significant upside to the potential of the Property, further validating the pioneering efforts of Squatex and Petrolympic in exploring the potential of the area.

Squatex and their partner Petrolympic are now designing a drilling program to validate the potential of the Mass. Structure, and are preparing an exploration program to further document and test other prospective structures identified within the Property.“The timing is right for demonstrating the producibility of a natural gas conventional reservoir in the Lower St. Lawrence, since economic growth in the area will be likely stimulated by the recent election of a majority government in the province, and clean energy sources will be in high demand on close local markets”, says Mendel Ekstein, President and CEO of Petrolympic.

table_sproule_1 table_sproule_2

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 (Qu.bec) 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 carry out 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.

About Petrolympic Ltd.

Petrolympic Ltd. is a Canadian junior oil and gas company actively exploring for premium light crude oil and natural gas in North America. The Company is presently focused on its near-term oilproduction asset in the prolific Maverick Basin of Texas, USA. The Company also holds an interest in a total of 754,216 hectares (1,863,668 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 217,370 hectares (536,941 acres) through a joint venture with Squatex Energy and Resources Inc. (“Squatex”), a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 56,622 hectares (139,913 acres) located over the Lowlands shallowcarbonates 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 Gasp. and Lower St. Lawrence regions, including a 30% interest in 431,339 hectares (1,065,839 acres) through a joint venture with Squatex and a 100% interest in a block of exploration permits totalling 40,885 hectares (101,029 acres) located between Rimouski and Matane prospective 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 the future economic performance of 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 or statements made by Squatex. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Squatex does not intend and undertakes no obligation to update these forward-looking statements.

SOURCE: Ressources & énergie Squatex

DISCOVERY OF A CONVENTIONNAL NATURAL GAS RESERVOIR

Ressources et Energie Squatex Inc. Squatex¨) is pleased to announce the discovery of a significant reservoir rock which could contain a large quantity of conventional natural gas in the Lower St. Lawrence area.  While carrying a stratigraphic coring program which started in 2010 to evaluate the oil and gas potential of its licences, important porous dolomitized limestone zones of hydrothermal origin containing gas (89%Methane)  were met in a core hole that reached 1874 meters in the Mitis River area, south of Rimouski. These horizons of the Sayabec Formation are covered with fine grains rocks of the St-Leon Formation acting as cap rocks. A similar porous horizon was already known outcropping near St-Cléophas in the Matapedia, some twenty kilometers more to the east.

The core hole Massé No.1 was aimed to test a series of seismic AVO (amplitude vs offset) anomalies indicating the possibility of the presence of fluids and/or porous reservoir rocks near thrusted zones. The cores collected starting at 1847m where important gas flows started to occur, exhibit a 10 meters thick zone which contains a measured porosity which locally reaches 20,8% with a permeability of 1624 mD.  The hole was cemented from one end to another in order to prevent that the fluids found at depth (Methane and/or salt water) become in contact with the surface formations.  No testing was possible, considering the drilling equipment used.  The preliminary geophysical interpretation done by Squatex indicates that the prospective zone of AVO anomalies can extend over a surface of more than 20 km2, which, by using the parameters measured during drilling, could result in a reservoir which could contain a volume up to 100 BCF.  Further work and analysis must be performed to fully appraise and confirm the potential of the structure.

Squatex is currently evaluating different options in order to finance the continuation of geoscientific work such as the recording of new seismic lines, the AVO processing of existing lines and to carry out the drilling of confirmation wells on the structure and determine its potential.

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.