Canadian Quantum Energy purchased an interest in two sections located in Southern Alberta near offsetting shallow, light oil production. The 1280 acre (gross) land position could yield a multi-well drilling program offsetting a lead well that tested oil from the Sunburst sand. Proprietary seismic will be acquired in 2011 with drilling to follow shortly thereafter.
Canadian Quantum has a 22.5% working interest and a 45% working interest.
See news release here, News Release May 18th, 2011