GMR

Gastem (TSX VENTURE:GMR) is pleased to announce that it has received the drill
permit for the Gastem Ristigouche-Partie-Sud-Est No1 well applied for in
December 2011. The site access and the pad have already been prepared and the
company is hoping to spud the well this fall, subject to rig availability. 


The primary target of the Ristigouche well is an anticlinal structure in the
oil-bearing Silurian West Point Formation known as the Sellarsville slice. The
secondary target is in the White Head Formation which holds potential for oil
and gas in fractured intervals at a depth of approximately 2.6 km. 


"The Gaspe Peninsula and particularly the Ristigouche-Matapedia area present
several favourable indicators, notably in the Silurian formation where reef
facies may be encountered" said Mr. Raymond Savoie, Chairman and CEO of Gastem.
"Recent wells in the Gaspe Peninsula have all found traces or small reservoirs
of good light oil and one may correctly state that, given better science and
technology, the first substantial discovery is not far down the road." 


Gastem is an independent oil and gas exploration and development company based
in Montreal. At present, the company holds exploration and storage permits and
rights in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalene
Islands in Quebec as well as rights and interests in New York State and
Virginia.

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