TORONTO, Feb. 17, 2015 /CNW/ - Petrolympic Ltd. ("Petrolympic" or the "Company") (TSX.V: PCQ) is very pleased to present a summary of the recent breakthroughs achieved on its joint venture property in the Lower St. Lawrence area (the "Property") in conjunction with its joint venture partner, Squatex Energy and Resources Inc. ("Squatex"), the operator on the Property. The Property is located in the Appalachian Basin of [...]
Petrolympic is pleased to announce that drilling of the Massé No 2 Well is in progress and substantial oil and gas shows have been documented. The well is drilled on the Massé area on its joint venture property in the Lower St. Lawrence area located in the Appalachian Basin of Quebec, in partnership with Squatex Energy and Resources Inc., the operator on the Property. The presence of oil associated to porous horizons and [...]
Petrolympic is pleased to announce that drilling operations have started on the Massé structure on its joint venture property in the Lower St. Lawrence area located in the Appalachian Basin of Quebec, in partnership with Squatex Energy and Resources Inc., the operator on the Property. The Massé No 2 Well was spudded and is targeted to reach an expected total depth of 6,890 feet.
Petrolympic announces that a total of 750,000 options to purchase common shares of the Company have been granted to directors and officers at an exercise price of $0.37 per share, expiring on June 20, 2019. The grant is to replace options that expired earlier in June. The grant is subject to regulatory approval. The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of [...]
Petrolympic is pleased to announce that the Quebec Finance Minister, M. Carlos Leitao, confirmed during the Quebec budget speech the creation of an investment fund in the amount of $1.25 billion for the development of the hydrocarbon and mining sectors in the province of Quebec. This new fund will be managed by Ressources Quebec, a division of Investissement Quebec. Of the $1.25 billion, $500 million will be reserved for [...]
Petrolympic is pleased to announce that all items on the agenda were approved at the Company's annual and special shareholders meeting held on May 20, 2014. At the AGM, the shareholders ratified the Company's 10% rolling stock option plan, re-appointed MNP LLP as auditors of the Company for the ensuing year, and authorized the directors to fix their remuneration. In addition, each of the current directors of Petrolympic [...]
Petrolympic is pleased to announce the results of an independent resource evaluation carried out by Sproule Associates Limited on a structure drilled on its joint venture property in the Lower St. Lawrence area located in the Appalachian Basin of Quebec. Sproule conducted its evaluation according to the Canadian Oil and Gas Evaluation Handbook reserve and resource definitions. The Company holds an interest in 431,339 [...]
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