QUEBEC, QUEBEC--(Marketwired - Sept. 26, 2016) - Pétrolia Inc. (TSX VENTURE:PEA) is pleased to announce that the work that will enable the drilling of the lateral section of Bourque No 1 began on September 25th. This lateral section will be drilled from a 1 230 metres window to 1 700 metres, that is up to a true vertical depth (TVD) of 1 505 meters, before setting the intermediate casing. The projected total measured depth of the well is 3 450 metres (with a 1 488 metre TVD). The drilling of the 1750 m horizontal leg of the reservoir will be followed by logging and completion.
As previously announced, the lower open hole section of the well has been permanently abandoned through the installation of 4 cement plugs at depths from 2746 to 1780 metres.
Thereafter, the drilling rig will be moved a few metres away towards the enlarged portion of the Bourque 1 site in order to drill Bourque HZ No. 3. This new well will be drilled vertically to a depth of 1006 m KB. The hole will then be progressively deviated down to a total measured depth of 1500 m KB or a TVD of 1299 m KB. The intermediate casing will then be put in place. The deviated section of 1 650 metres length in the reservoir will be drilled to a total measured depth of 3 150 metres or a TVD of 1 299 metres.
At the end of the drilling, electrical well logging, and tubing installation operations- and after the completion program of Bourque HZ No 3 - a production test will be performed for both wells successively in order to assess the natural production from the Forillon formation.
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 97 099 881 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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