By OGJ editors
HOUSTON, Nov. 23 -- TransAmerican Energy Inc., Vancouver, BC, and minority partner Dumasbancorp ULC signed agreements with the Innu Nation of Pessamit to explore for oil and gas in identified areas in the Cote-Nord region of the St. Lawrence River estuary in eastern Quebec.
Initial work program of $100,000 in geophysical surface work is to be carried out in January-March 2011. If findings are positive, the company would provide Pessamit a carried interest in exploitation if an oil or gas field were discovered.
The agreement, covering areas north of the St. Lawrence River 30 miles southwest of Baie Comeau, Que., falls under a drilling moratorium imposed by the Quebec government earlier this year until at least the end of 2012 (OGJ Online, Oct. 11, 2010).