Petrolia Inc.
TSX VENTURE : PEA

Petrolia Inc.

June 17, 2008 08:51 ET

Petrolia Undertakes an Exploration Campaign for Natural Gas in New-Brunswick

RIMOUSKI, QUEBEC--(Marketwire - June 17, 2008) - Petrolia Inc. (TSX VENTURE:PEA) is pleased to announce that it will, during the coming summer (2008), undertake exploration work to verify the natural gas potential of its Dalhousie property, in New-Brunswick. All the current studies indicate that a giant structure underlies the property. The Society will initially spend an estimated 1 million dollars to evaluate the natural gas potential of the structure.

In 2007, while studying a core sample from a well located south of the property, Petrolia identified the presence of reservoir rocks, made up of a dense network of open fractures, within a formation that was affected by hydrothermal fluids. Although unconventional, this type of reservoir could hold large quantities of natural gas and exhibit exceptional production capacities. Petrolia believes that there are good probabilities to meet the reservoir at significant depth, within the giant structure.

A 2005 study, commissioned by the Geological Survey of Canada, concluded that the area located at the head of Chaleur Bay in New-Brunswick contains formations favourable for the preservation of natural gas. Another study indicated the presence of an excellent source rock, which has generated a large quantity of hydrocarbons. Based on these studies, Petrolia acquired new exploration licences covering a total of 682 km2 (168 434 acres). The city of Dalhousie, which is located near the structure, represents a potential natural gas market with its thermal power generating station.

The exploration work, including a 60 km seismic survey, should confirm the geological concepts and should lead to the choice of a drilling location.

About Petrolia

Petrolia is a junior oil and gas exploration company that holds exploration rights on a total of 15 degrees000 km2 (3.7 millions acres), an area which represents 21 % of the Quebec territory under licence. Mainly located in the Gaspe Peninsula and on Anticosti Island, these licences are considered as the most prospective lands, representing 70% of the Quebec petroleum onshore potential, Petrolia will now have a free hand to develop that potential with new partners and it intends to intensify its exploration program in the upcoming years. The company has 40.7 M outstanding shares and it owns 2.2% of the issued and outstanding shares of Gastem Inc. (TSX VENTURE:GMR). Furthermore, the company holds 13 million dollars in cash.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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