QUEBEC CITY, QUEBEC--(Marketwired - Jun 2, 2016) - Pétrolia (TSX VENTURE:PEA) is pleased to announce the first crude oil delivery from its long-term production test initiated last May 18th. Two tanker trucks holding nearly 530 barrels of crude oil are heading for a Quebec refinery. This represents the first shipment of a portion of the crude oil produced since the beginning of the production test.
The long-term production test aims to gather data, over a period of 240 days, to help estimate the economic potential of the project and eventually submit a production lease request.
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.
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.
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