QUEBEC CITY, QUEBEC — (Marketwired) — 11/25/14 — Petrolia (TSX VENTURE: PEA) announces the resumption of drilling at the Haldimand 4 site. This conventional horizontal well drilled without hydraulic fracturing will allow the Company to assess the commercial potential of the petroleum resources of the Haldimand deposit.
The Haldimand 4 well site is located in the wooded area near Sandy Beach, Gaspe, where Petrolia has been safely operating in an environmentally responsible way that respects local communities and meets the highest industry standards. Petrolia has implemented several measures to minimize social and environmental risks, including an aquifer observation well, a watertight membrane under the drill site, and a sound barrier, as well as an emergency response plan developed specifically for the Haldimand 4 site by an outside firm.
Petrolia recently opened a new information office in Gaspe, and has hired a local representative to oversee dialogue with the community and respond to questions that may arise concerning its projects on the Gaspe Peninsula, including this well.
“I am extremely pleased that drilling at the Haldimand 4 well is underway,” said Petrolia President and CEO Alexandre Gagnon. “Once we have demonstrated the commercial viability of the project, it could provide a great boost to the economy of the Gaspe area.”
About Petrolia
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 77,603,196 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 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.
Contacts:
Alexandre Gagnon
President and Chief Executive Officer
418-657-1966
For interviews:
Ariane Charette
Communication Advisor
418-780-7684