Cuda Oil and Gas Inc V.JNX

Delayed reaction..

[EDDY05]

Petrolia (PEA.v) trading over $2...from press release...

The laboratory results of the Macasty, as sampled in the Arco well, indicate that the Macasty may have the potential to be a tight, oil to liquid hydrocarbon-rich producing shale formation on Junex's Anticosti acreage:
Utica Equivalent – The Macasty is the stratigraphic equivalent of the Utica Shale in the St. Lawrence Lowlands. For reference, Junex is the largest net acreage-holder in the Utica Shale in the Saint Lawrence Lowlands where it controls the vast majority of the Liquids-Rich fairway of the Utica.
Greater Thickness – The Macasty is 88.4 metres (290 ft.) thick in the Arco well, which is much thicker than the 40 metres (131 ft.) of Macasty encountered in the Petrolia/Corridor Chaloupe No. 1 well as reported by these parties in a press release dated February 9, 2011.
Potential for Stimulation – The mineralogy of the Macasty indicates that it should be favourable for fracture stimulation as it contains a high "brittle" mineral content of quartz and carbonate with a low "ductile" clay content. The samples had an average composition of 50% Quartz + Feldspar, 35% Carbonate, and 15% Clays.
Oil to Liquid Hydrocarbon Prone – The Organic Matter/Kerogen Type of the Macasty is Type II. Type II kerogens have great capacities to generate liquid hydrocarbons and account for most petroleum source rocks worldwide.
Rich in Organic Content – The Macasty has Good to Excellent Organic Richness with an average Total Organic Carbon content of 2.6 weight % (range of 1.2 to 3.7 wt. %).
Good Porosity – The Macasty has an average porosity of 6.3% (range of 4.0 to 8.6%), which compares favourably with other North American shale resource plays and which may be a positive indicator for potential resources initially-in-place.
Oil / Liquid Hydrocarbon Potential – The Macasty in the Arco well is between 2,399 and 2,487 metres in depth, where it has attained its full thermal maturity for Oil Generation and is in the Late Oil Window to Early Condensate – Wet Gas Window of thermal maturity (Rock-Eval/Tmax data). Junex's mapping interprets that the Macasty on most of its acreage varies between approximately 800 metres to 2,200 metres in depth. As formation temperatures are generally lower at shallower depths, the formation temperature of the Macasty on most of Junex's acreage should be lower than in the Arco well, therefore potentially placing the Macasty more firmly within the lower temperature Oil Window of thermal maturity.
Reservoir Energy – Being deeper than other areas on the island, the Macasty on Junex's acreage should have greater formation pressure (or reservoir energy). More reservoir energy could translate into an increased production potential in the event that the exploration program continues to yield positive results.