Junex Inc. has acquired additional drilling equipment that upgrades its maximum drilling depth capacity to approximately 3,000 meters. This drilling rig, known as Foragaz Rig No. 4, will be used to drill the Company's next horizontal wells on its Galt Oil property, starting with the Junex Galt No. 4 Horizontal Well to be drilled this autumn.
"This important addition to our drilling fleet allows us to meet our needs to drill horizontal wells on our Galt Oil Property, on our highly-prospective acreage in the Deep Fairway on Anticosti Island, and on all of our landholdings elsewhere in Quebec. With respect to our Galt No. 4 Horizontal Well, much of the drilling equipment is already at a staging area near the well location and the remainder of the equipment and supplies are being mobilized at this time. In order to respect the administrative time period established by the new Regulation on groundwater protection that entered into force on August 14th, Junex plans to start drilling this well after September 24th." stated Mr. Peter Dorrins, Junex's President & Chief Executive Officer.