RIMOUSKI, QUEBEC — (Marketwired) — 05/23/13 — Petrolia (TSX VENTURE: PEA) is pleased by the position announced by the Minister of Sustainable Development, Environment, Wildlife and Parks regarding exploration to be carried out on Anticosti Island to determine its oil production potential.
Petrolia wants to help set up the scientific oversight the government is calling for. The company agrees with the Minister–s proposed oversight framework and believes it is the best approach to keeping the public informed and reassured.
Petrolia believes this exploration is necessary to confirm the potential for oil production on Anticosti. The Minister–s position will enable Quebec–s decision makers to make wise decisions.
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 68 002 800 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
Andre Proulx
President
(418) 724-0112