RIMOUSKI, QUEBEC — (Marketwire) — 09/22/11 — The Management of Petrolia (TSX VENTURE: PEA) wishes to point out that no substantial change in its activities and operations can explain recent fluctuations of its stock on the market.
The issue of well workover and completion permits by the Ministry of Natural Resources and Wildlife of Quebec allows the Company to make progress towards the development of the Haldimand field. According to Petrolia–s President, Mr. Andre Proulx, the drilling of well Haldimand N degrees 3, for which a permit request is being studied by the Ministry, will constitute a key step towards exploitation of the field.
About Petrolia
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 15,000 km2 (2.7 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 54 million shares issued and outstanding. Petrolia–s securities are included in the SP/TSX Venture 30 Index.
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
Vice-President
Quebec City: (418) 657-1966
Andre Proulx
President
(418) 724-0112