KIRKLAND LAKE, ON, June 16 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV)
("RJK") wishes to announce that it has acquired a 100% interest in a number of
shale gas & oil permits in the St. Lawrence area of Quebec. At the present
time, RJK has reserved 10 permits totaling 214,900 hectares (531,030 acres),
which are located within the current shale gas & oil play areas of the Lower
St. Lawrence, adjacent to and in close proximity to J.A.G. Ltee (Les Mines)
and Mundiregina Resources Canada Inc. and also in a new area of interest
around Sept-Isles where a well drilled in 1970 flowed gas.
"Immediately after Forest Oil's announcement of a significant gas
discovery in the Utica Shale in the St. Lawrence Lowlands, RJK realized it had
a very short window of opportunity to participate," says Glen Kasner,
President. "Rather than just acquiring some of the remaining open areas 'in
the neighborhood', RJK decided to conduct detailed research of old petroleum
drilling records in order to determine which of the remaining open areas were
prospective. As a result of that research, a number of permits were applied
for that either encompass or are close-in to wells which were drilled in the
1940's and the 1970's and had either intersected the Utica shales or had
flowed gas from the shales in the same geological structures, while the others
are in close proximity and in a similar geological structure."
RJK is continuing to conduct additional research to determine whether
there are any other prospective areas still available for acquisition. A
finder's fee will be paid in association with these acquisitions. The finder's
fee and the acquisitions remain subject to regulatory approval.
Forward Looking Statements: This news release contains certain
forward-looking statements. These forward-looking statements are subject to a
variety of risks and uncertainties beyond RJK's ability to control or predict
which could cause actual events or results to differ materially from those
anticipated in such forward-looking statements. Although RJK believes that the
assumptions inherent in the forward-looking statements are reasonable, undue
reliance should not be placed on these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this release.
Web Site: http://www.rjkexplorations.com
For further information:
For further information: Glenn Kasner, President, Telephone: (705)
567-5351, Fax: (705) 567-5557, Mobile: (705) 568-7567, E-Mail: