Canadian Quantum Energy Corporation says that Sundance Energy Corporation, the Company's 50% partner and Operator of the Company's jointly held Alexander First Nations Permit in Central Alberta comprised of 17,280 gross acres / 27 sections (8,640 net acres) (the "Alexander Lands") is on track to commence the drilling of the first test well on the Alexander Lands. The Operator has completed the required survey, is presently conducting the required environmental assessment and is in the process of obtaining a surface lease and a drilling license for the +/- 1,250 metre Test Well located at 16-11-56-27W4M (the "16-11 Well"). The 16-11 Well will be drilled less than one mile west of the 09-12-56-27W4M well (the "09-12 Well"), which was recently completed in the Detrital formation. Petro-Reef Resources Ltd., the operator of the 09-12 Well recently announced that it performed a 48 hour test of the 09-12 Well and it flowed light oil at an average rate of 296 barrels per day (47 cubic metres per day) with an average gas flow rate of 495,000 cubic feet per day (14 e3m3 per day). The 16-11 Well is targeting the same Detrital formation present in the Petro-Reef 09-12 Well and will also be evaluating the Alexander Sands formation, which is also productive for light oil in the immediate area.

Drilling operations on the 16-11 Well are scheduled to commence between late November and mid-December 2011. In addition, an environmental assessment for a proposed 27 square mile / 69 square kilometre 3D seismic program on the Alexander Lands is currently underway. It is anticipated that all or a large portion of the 3D seismic program will be commenced in the first quarter of 2012.

Douglas Brett, President & C.E.O. of Canadian Quantum states: "We are pleased with the progress that we are making with respect to commencing the drilling of our first well on our jointly held Alexander First Nations lands. The recently documented success on lands adjacent to our Alexander First Nations Lands is indicative of how prospective our lands are for multi-zone light oil and natural gas production at relatively shallow depths."

Tags: Canadian Quantum Energy Corp.