RIMOUSKI, QUEBEC — (Marketwire) — 11/07/12 — Petrolia (TSX VENTURE: PEA) is pleased to announce that between mid-July and mid-October, the Bourque 1 drilling operation contributed $2.6 million to the Quebec economy. Of this amount, spinoffs in the Gaspe Peninsula totaled $1.2 million, accounting for nearly 45% of the expenditures in the province.
To construct Bourque 1, Petrolia drew on the expertise of nearly fifty activity sectors in Quebec and the Gaspe Peninsula. Expenditures in the transportation sector alone totaled nearly $1 million.
Petrolia would like to thank its Quebec partners for their contribution to this first drilling program, which will be followed by Bourque 2 and Haldimand 4.
Petrolia is proud to have given priority to local businesses and hopes that the emergence of this new sector will significantly increase the spinoffs generated in Quebec, especially in the Gaspe Peninsula. “Exploration drilling should significantly contribute to the Quebec and Gaspe regional economy by drawing on local expertise whenever possible and by promoting its development to meet the growing needs of this new sector of our economy,” says Isabelle Proulx, VP of Business Development.
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 66 645 750 shares issued and outstanding.
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
Andre Proulx
President
(418) 724-0112