QUEBEC CITY, QUEBEC--(Marketwired - May 13, 2016) - Pétrolia (TSX VENTURE:PEA) announces that, subject to obtaining the required government permits and approvals, the 2016 drilling campaign is expected proceed as planned in June. The Anticosti Hydrocarbons LP Board has also decided to conduct the drilling campaign in summer 2016 while hydraulic fracturing operations and production tests will be conducted in early summer 2017.
This decision, not included in the initial agreements, will increase the duration of the production test period that will take place after hydraulic fracturing operations. The extension of this production test period will also help refine the analysis of well production data.
Finally, the Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques (MDDELCC) is late in its analysis of the Anticosti Hydrocarbons LP application submitted last February to obtain a certificate of environmental authorization enabling it to proceed with hydraulic fracturing operations. According to information obtained from MDDELCC, the application analysis process is following its course.
About Pétrolia
Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km² (4 million acres), which represents almost 23% of the Québec territory under lease. The closing of a partnership on Anticosti Island has led to the creation of Anticosti Hydrocarbons L.P., a limited partnership in which Pétrolia holds a 21.7% interest. In order to carry out the project's operations, Pétrolia Anticosti Inc., a subsidiary of Pétrolia, was designated project operator. Pétrolia is a Quebec company whose objective is to develop oil from here, by the people here, for here. Pétrolia has 92 420 195 shares issued and outstanding.
Disclaimer
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Pétrolia 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 or statements made by Pétrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Pétrolia disclaims any intention or 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.
Contact
For More Information
Alexandre Gagnon
President and CEO
418-657-1966
agagnon@petrolia-inc.com
For Interviews
Jean-Francois Belleau
Director of Public and Governmental Affairs
418-657-1966
jfbelleau@petrolia-inc.com
