|By Marketwired .||
|June 2, 2014 02:27 PM EDT||
QUEBEC CITY, QUEBEC -- (Marketwired) -- 06/02/14 -- Petrolia (TSX VENTURE: PEA) is strongly reassured by the Government of Quebec's chosen approach to the oil and gas industry. In our opinion, it is a balanced approach that will enable the government to ultimately implement a legislative and regulatory framework that is sustainable and predictable for our industry, and play its role in ensuring social acceptability.
"We are extremely pleased that things are now clear for the industry. We are satisfied with the government's desire to play a greater role in ensuring social acceptability," said Petrolia President and CEO Alexandre Gagnon.
The Company is equally satisfied with the government's confirmation that it will respect the agreement signed on March 31st of this year. This agreement resulted in the creation of Anticosti Hydrocarbons L.P., a partnership consisting of Ressources Quebec (representing the Government of Quebec; 35%), Petrolia (PEA-TSVX; 21.7%), St-Aubin E&P (21.7%), and Corridor Resources Inc. (CDH-TO; 21.7%).
Strategic environmental assessment (SEA)
The Government regulation and monitoring under this approach will help Petrolia demonstrate that it can carry out its operations, including drilling with hydraulic fracturing, in a manner that is safe for the environment and the citizens. Regarding this matter, Mr. Gagnon stated, "We are happy to contribute to the strategic environmental assessment, and we believe that the results will support the findings acquired through other studies and assessments, and allow the Quebec government to improve the people of Quebec's knowledge of our industry."
Adoption of the water protection regulation
Petrolia is pleased with the government's desire to quickly adopt a regulation regarding safe distances between drilling sites and private water wells. We believe that the recent publication of results of a hydrogeological study conducted by the Quebec government, as well as the announcement of the adoption of the water protection regulation, will help reassure Gaspe residents and allow Petrolia to resume drilling at Haldimand 4 as soon as possible.
Petrolia is satisfied that the government has given the green light to the Anticosti Island project. The first phase of this project will consist of a core drilling program, and the second will entail the drilling of three oil wells, as planned in the previously announced exploration program. In light of the results of the roughly 70 studies in the previous SEA and thanks to the thorough regulation planned by the government, Petrolia is extremely confident that it will be able to proceed with the drilling program in the summer 2015, with a view to answering the important economic and environmental questions posed by the government. If drilling does not occur in summer 2015, the government will not have answers to all these questions. Petrolia, as operator of Anticosti Hydrocarbons L.P., is ready to tackle the challenge set forth by the government in order to demonstrate that Quebec can establish a profitable oil industry that benefits society and respects the environment and citizens.
The approach announced today clearly allows the government to play its role in ensuring social acceptability. As a partner in the Anticosti project, the Quebec government now has the means and tools it needs to create a positive climate that will allow our hydrocarbon projects to move forward and, ultimately, contribute to Quebec's economic and social development.
"Petrolia wants to contribute to Quebec's economic development and the collective wealth of Quebecers. We believe that our projects could promote this development and help build this wealth," asserted Mr. Gagnon.
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km2 (4 million acres), which represents almost 23% of the Quebec territory under lease. The closing of a partnership on Anticosti Island has led to the creation of Anticosti Hydrocarbons L.P., a limited partnership in which Petrolia holds a 21,7% interest. In order to carry out the project's operations, Petrolia Anticosti Inc., a subsidiary of Petrolia, was designated project operator. Petrolia is a Quebec company whose objective is to develop oil from here, by the people here, for here. Petrolia has 74,667,372 shares issued and outstanding.
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 or 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.
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
Oct. 25, 2016 10:15 AM EDT Reads: 1,710
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...
Oct. 25, 2016 10:15 AM EDT Reads: 1,931
By now most people have either created their configuration management solution or are just embarking on this journey. In his session at @DevOpsSummit at 19th Cloud Expo, Marco Ceppi, a DevOps Engineer working at Canonical, will discuss how to take configuration management to the next level with modelling and orchestration. He will also discuss how and why people are moving from a machine-centric view to a service/application-oriented view of deployments, and how you can leverage the knowledge a...
Oct. 25, 2016 10:00 AM EDT Reads: 1,900
operations aren’t merging to become one discipline. Nor is operations simply going away. Rather, DevOps is leading software development and operations – together with other practices such as security – to collaborate and coexist with less overhead and conflict than in the past. In his session at @DevOpsSummit at 19th Cloud Expo, Gordon Haff, Red Hat Technology Evangelist, will discuss what modern operational practices look like in a world in which applications are more loosely coupled, are deve...
Oct. 25, 2016 09:45 AM EDT Reads: 1,788
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Oct. 25, 2016 09:45 AM EDT Reads: 1,367
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
Oct. 25, 2016 09:42 AM EDT Reads: 124
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Oct. 25, 2016 09:30 AM EDT Reads: 2,587
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...
Oct. 25, 2016 09:15 AM EDT Reads: 1,064
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Oct. 25, 2016 09:00 AM EDT Reads: 1,946
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Oct. 25, 2016 08:45 AM EDT Reads: 16,497
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Oct. 25, 2016 08:45 AM EDT Reads: 1,996
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 25, 2016 08:30 AM EDT Reads: 894
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Oct. 25, 2016 08:00 AM EDT Reads: 5,739
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.
Oct. 25, 2016 07:45 AM EDT Reads: 4,910
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 25, 2016 07:45 AM EDT Reads: 1,400