Acquired 60% interest in Yamaska property in Quebec.
Canadian Forest Oil, a subsidiary of Forest Oil Corp., Denver, (NYSE: FST) has acquired a 60% interest in the Yamaska property in Quebec from Gastem, Montreal, Quebec, (CDNX: GMR). Forest earned the interest following the end of its spending requirement on the property and is now operator of the Utica shale program on Yamaska, covering some 112,000 acres. Gastem now holds 20% and Questerre Energy Corp., Calgary, (Toronto: QEC) has the remaining 20%. Questerre gained the 20% working interest when Gastem converted Questerre's 7.5% gross overriding royalty interest as part of a farm-in agreement. Forest expects to commence a pilot horizontal drilling program in the St. Lawrence Lowlands in 2009.