News Feed Item

Petrolia: Status of Exploration Activities Underway in the Gaspe Peninsula and on Anticosti Island

RIMOUSKI, QUEBEC -- (Marketwire) -- 09/24/12 -- Petrolia (TSX VENTURE:PEA) would like to issue a progress report on its activities currently underway in the Gaspe Pensinsula and on Anticosti Island.

Gaspe Peninsula - Bourque No. 1

Drilling of the Bourque No. 1 well, located halfway between Murdochville and Grande-Vallee, has been underway since late July. To date, the well has reached a depth of over 2,400 meters and is approaching the West Point Formation, where two separate targets are scheduled for assessment. In all, the well will reach a total estimated vertical depth of 3,200 meters.

In the formations underlying the objective, the test well revealed numerous hydrocarbon shows that justified a number of further short term production tests. These tests are currently being evaluated to determine the size of these zones in terms of exploration. Findings have already shown that the petroleum system is operational in this part of the Gaspe Peninsula.

Drilling of the Bourque No. 1 well is slightly behind our initial schedule. This delay is due to the hardness of rocks encountered and the many tests carried out on the formations underlying the objective, given the significant shows found there. Petrolia intends to take core samples for more detailed analysis, particularly at the level of the Forillon Formation when drilling the Bourque No. 2 well.

Gaspe Peninsula - Bourque No. 2

The platform for the next well is currently being finalized. Site preparation work will be carried out next week. The site will be ready for the drilling rig as soon as the Bourque No. 1 well is complete.

Gaspe Peninsula - Haldimand No. 4

Site preparation work has begun. The site has been cleared and we will proceed with the next site preparation steps starting next week. This third well is being drilled on the Haldimand structure in order to intercept, at an optimal angle, a network of natural fractures identified in the course of previous Petrolia and Quebenergie operations. Drilling is slated to begin in mid-January 2013.

In addition, work by INRS and Technorem to survey the groundwater system of the Haldimand Peninsula is proceeding as scheduled. This study is a first in eastern Quebec. Exploration activities are an opportunity to obtain scientific information on the regions targeted and Petrolia is proud to take part in them.

Anticosti - Stratigraphic tests

Petrolia and its partner Corridor Resources (CDH-TSX) have successfully completed the first stratigraphic corehole in the western sector of Anticosti Island at the Princeton Lake location. The corehole intersected 100 m of Macasty Formation, from a 850-meter depth. Core samples taken from the Macasty Formation were sent to Weatherford labs in Texas and TerraTeck labs in Calgary for testing. The purpose of the tests is to determine the main petrophysical and rock parameters of the Macasty Formation and compare them to both the Macasty Formation parameters in the Chaloupe area located on the eastern side of Anticosti Island, as well as the Utica Formation parameters in Ohio.

Equipment has been moved to the HighCliff site further east of the previous site to take core samples. This second corehole is underway and should be completed by late October.

Moreover, Petrolia has announced that it signed an agreement with INRS to carry out a groundwater study on Anticosti Island. The study will be similar to that conducted earlier in the Gaspe Pensinsula and is meant to enhance knowledge of groundwater. In all, 14 water wells will be drilled this fall as part of the study.

Andre Proulx is pleased to note that Petrolia is actively pursuing its exploration operations in Quebec and will continue to focus its efforts on finding oil.

About Petrolia

Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 14,000 km2 (3.5 million acres), which represents about 17% of the Quebec territory under lease. The leases, the majority of which are located on the Gaspe Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease for which there is land-based oil potential in Quebec. Petrolia has 66 585 750 shares issued and outstanding.

Forward-looking statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Petrolia and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications o statements made by Petrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Petrolia does not intend and undertakes no obligation to update these forward-looking statements.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...