RIMOUSKI, QUEBEC — (Marketwire) — 08/03/11 — The acquisition on the secondary market of a block of more than 15% of Petrolia shares, for investment purposes only, by the United Kingdom–s CD Capital shows the interest generated by the Company–s stock and the potential of the permits where it holds an interest. The significant transaction volume in recent months confirms the attention given to Petrolia–s stock. The acquisition of a block of shares by CD Capital demonstrates that this interest goes beyond the Canadian borders.
The press release from CD Capital meets the obligation for reporting its position and its intentions that the financial markets authorities imposes on holders of large blocks (more than 10%) of shares of a public company.
Petrolia is a Quebec company dedicated to developing Quebec–s petroleum potential. It aspires to develop this potential as quickly as possible while maintaining control of its development and the permits that it holds. The Company possesses and develops the necessary tools to do so. The interest from the markets in its stock attests to the potential that Petrolia aims to realize.
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 53.8 million issued and outstanding shares and has working capital of more than $10 million.
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
Vice-President
Quebec City: (418) 657-1966
Andre Proulx
President
(418) 724-0112