Privately held, Calgary-based Canbriam Energy Inc. has acquired a 60% earned interest in a 19,770-acre block in the St. Lawrence Lowlands through its farm-in agreement with Petrolympic Ltd., Montreal, (Toronto Venture: TSX) and privately held, Brossard, Quebec-based Ressources & Energie Squatex Inc.
Canbriam is responsible for all drilling, completion and abandonment costs incurred during the program. ...
The Vancouver, British Columbia-based company's mostly contiguous land base at Chambers-Ferrier now totals 25 sections (16,000 gross acres) with an approximate average working interest of 79.5% in 16 of the 25 sections and varying interests in nine (9) wells.
Darden will remain on the board as a director and chairman emeritus. He will continue as an employee of the company through the end of the year, focusing on strategic transactions including the pursuit of a joint venture in the Horn River Basin in British Columbia.