QUEBEC CITY, QUEBEC--(Marketwired - Jun 28, 2016) - On June 27, 2016, Pétrolia (TSX VENTURE:PEA) has learned with regret the resignation of Mr. Kjell Pedersen as the independent director of Anticosti Hydrocarbons L.P. (HASEC). Mr. Pedersen had joined the board of HASEC at the beginning of the project in 2014. Over the past two years, the wisdom, the international business perspective and extensive experience of Mr. Pedersen in the oil & gas sector have enriched in a lasting manner the discussions of the Board of Directors.
Petrolia wishes to thank Mr. Pedersen for his dedication and commitment to the Anticosti project and wishes him the best of luck in pursuing his professional and personal projects.
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 Québec 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.
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.
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