QUEBEC CITY, QUEBEC--(Marketwired - July 19, 2017) - Pétrolia Inc. (TSX VENTURE:PEA) is pleased to announce that work has resumed on Bourque wells 1 and 3. Equipment arrived on the site on July 18 and work has restarted as of this morning. The following operations will be performed:
- Resuming the production test / well cleaning operations on the Bourque HZ No 1 R1 well by swabbing out fluids with coiled tubing and nitrogen to better quantify reservoir productivity, collect bottom-hole sample and static state data (PVT), and confirm the pressure regime.
- Resuming the production test / well cleaning operations on the Bourque HZ No 3 by swabbing out fluids with coiled tubing and nitrogen.
Work carried out in fall 2016 on these two wells established the presence of oil and gas in the reservoir. This work will allow the collection of data that will be used to prepare the next steps, namely the completion of these two wells in anticipation of bringing them into production.
The Murdochville citizen's committee - made up of three representatives of the citizens of Murdochville, one hunting association representative, and one Côte-de-Gaspé MRC representative - as well as the mayors of the concerned municipalities will be kept up-to-date on the next operations on these wells.
About Pétrolia
Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licences covering 16,000 km², which represents almost 23% of the Québec territory under lease. Pétrolia is a leader in Quebec oil and gas exploration and its vision is to develop hydrocarbons, by people here, for here. The social and environmental dimensions are a major concern of Pétrolia and its exploration process. Through its Investissement PEA Inc. subsidiary, Pétrolia holds 21,7 % of the Hydrocarbons Anticosti L.P. and its Pétrolia Anticosti Inc. subsidiary is the operator of its Île d'Anticosti project. Pétrolia has 108,399,683 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 Information:
Martin Belanger, P. Eng
Interim President and Chief Executive Officer
418 657-1966
www.petrolia-inc.com