Gastem is an independent oil and gas exploration and development company based in Montreal, Canada. The Company holds exploration and storage permits and rights to 3,135 km² in the St. Lawrence Lowlands, the Gaspe Peninsula and the Gulf of St. Lawrence in Quebec as well as rights and interests in New York State and in Appalachia.
Gastem’s exploration properties can be divided into five groups:
a. The St. Lawrence Lowland properties in Quebec Properties;
b. The Magdalen Islands, a single permit, situated in the Magdalen Basin, Quebec, in the southern sector of the Gulf of St. Lawrence;
c. The Matapedia-Cyr Block in the Gaspe Peninsula;
d. New York State leases for approximately 34,400 acres situated in Otsego, Herkimer and Schoharie Counties, New York;
e. Leases for 1,200 acres in Virginia.
The company is well financed and has no debt. At present, the company has no revenue from gas production. The Company’s shares are traded on the TMX Venture Exchange under the symbol GMR.