Welcome!

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.

Contacts:
Isabelle Proulx
VP, Business Development
Quebec City: (418) 657-1966
[email protected]

Andre Proulx
President
(418) 724-0112
[email protected]
www.petroliagaz.com

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
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 21st Cloud Expo, Lennart Frantzell, a Developer Advocate with IBM, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing devel...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, will discuss how data centers of the future will be managed, how th...
There is huge complexity in implementing a successful digital business that requires efficient on-premise and cloud back-end infrastructure, IT and Internet of Things (IoT) data, analytics, Machine Learning, Artificial Intelligence (AI) and Digital Applications. In the data center alone, there are physical and virtual infrastructures, multiple operating systems, multiple applications and new and emerging business and technological paradigms such as cloud computing and XaaS. And then there are pe...
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Keisoku Research Consultant Co. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Keisoku Research Consultant, Co. offers research and consulting in a wide range of civil engineering-related fields from information construction to preservation of cultural properties. For more information, vi...
Most of the time there is a lot of work involved to move to the cloud, and most of that isn't really related to AWS or Azure or Google Cloud. Before we talk about public cloud vendors and DevOps tools, there are usually several technical and non-technical challenges that are connected to it and that every company needs to solve to move to the cloud. In his session at 21st Cloud Expo, Stefano Bellasio, CEO and founder of Cloud Academy Inc., will discuss what the tools, disciplines, and cultural...