Canadian Quantum Energy Corporation has drilled a well on its Alexander property located just north-west of Edmonton. The 15-11-56-27W4 well was originally drilled for the Detrital sand but has since been completed in the upper Ellerslie "Calahoo" zone, which is a good producer in the area. The well has been fracture stimulated and will be placed on an extended production test to determine sustainable production volumes.
Additional Ellerslie and Detrital targets exist on the Company's land and will be drilled as capital becomes available. Canadian Quantum is the operator and has a 50% working interest in the 15-11-56-27W4 well but will receive 100% of the income until 300% of the completion expenses related to the Calahoo zone are paid out of production.