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Petrolia: Bourque 1 Generates Direct Economic Spinoffs of $2.6 Million in Quebec
Published : November 07, 2012
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Keywords :   Oil | Petrolia |

RIMOUSKI, QUÉBEC--(Marketwire - Nov. 7, 2012) - Pétrolia (News - Market indicators) is pleased to announce that between mid-July and mid-October, the Bourque 1 drilling operation contributed $2.6 million to the Quebec economy. Of this amount, spinoffs in the Gaspé Peninsula totaled $1.2 million, accounting for nearly 45% of the expenditures in the province.

To construct Bourque 1, Pétrolia drew on the expertise of nearly fifty activity sectors in Quebec and the Gaspé Peninsula. Expenditures in the transportation sector alone totaled nearly $1 million.

Pétrolia would like to thank its Quebec partners for their contribution to this first drilling program, which will be followed by Bourque 2 and Haldimand 4.

Pétrolia is proud to have given priority to local businesses and hopes that the emergence of this new sector will significantly increase the spinoffs generated in Quebec, especially in the Gaspé Peninsula. "Exploration drilling should significantly contribute to the Quebec and Gaspé regional economy by drawing on local expertise whenever possible and by promoting its development to meet the growing needs of this new sector of our economy," says Isabelle Proulx, VP of Business Development.

About Pétrolia

Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 14,000 km² (3.5 million acres), which represents about 17% of the Québec territory under lease. The leases, the majority of which are located on the Gaspé Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease for which there is land-based oil potential in Québec. Pétrolia has 66 645 750 shares issued and outstanding.

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.

Isabelle Proulx
VP, Business Development
Quebec City: (418) 657-1966
info@petroliagaz.com
or
Andre Proulx
President
(418) 724-0112
president@petroliagaz.com
www.petroliagaz.com
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Petrolia

EXPLORATION STAGE
CODE : PEA.V
ISIN : CA7166851021
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Financings of Petrolia
9/26/2013Closes a Private Placement of $1,404,150
7/10/2013Completes Bought Deal Private Placement
5/21/2013Cancels its Engagement Letter Relating to a Private Placemen...
3/22/2011Closure of Private Subscription
11/23/2009P=E9trolia announces a non-brokered private placement for$5=...
1/15/2008Closing of a private placement of $3,000,000 with Pilatus En...
Option Grants of Petrolia
12/10/2010920,000 stock options granted to employees
7/7/2008Allocation of stock options
Project news of Petrolia
7/19/2011Acquires a Storage Site in Gaspe for Haldimand Oilfield Prod...
2/9/2011(Anticosti Macasty)and Corridor Announce Encouraging Anticosti Macasty Core
9/27/2010licences are not subject to the exploration moratorium in th...
12/16/2009(Gaspe Mine)A second petroleum discovery for Petrolia in the Gasp=E9 reg...
12/3/2008(Gaspe Mine)readies a new drilling campaign
3/7/2006Starts pumping tests on Haldimand #1
Corporate news of Petrolia
9/17/2013Implements its Succession Plan
9/5/2013Disclosure of the Agreement Petrolia-Hydro-Quebec
8/23/2013Allocation of Stock Options
7/30/2013/Anticosti: the Community Supports Oil and Gas Exploration
6/19/2013Announces $1.0 Million Bought Private Placement
5/1/2013Agreement in Principle on the Release of the Terms of the Ag...
4/24/2013Files a Superior Court Motion Against the Town of Gaspe
4/10/20131 TCF (Thousand Billion Cubic Feet) of Wet Natural Gas in a ...
3/5/2013Various Administrative Changes
2/22/2013Amendement to the Press Release Dated December 28, 2012
1/30/2013Inc: Important Quantities of Hydrocarbons Trapped in a Reser...
1/24/2013Pursuit of Haldimand 4 Drilling is Temporarily Deferred
1/14/2013Announces Positive Results of Two Anticosti Coreholes
1/14/2013Announces Positive Results of Two Anticosti Coreholes
12/28/2012Closes a First Tranche of its Private Placements of Up to $ ...
12/19/2012The Bourque 2 Well Reveals Two Reservoir Zones and the Prese...
12/10/2012Announces $3 Million Financing
12/10/2012Announces $3 Million Financing
12/10/2012Announces $3 Million Financing
12/10/2012Announces $3 Million Financing
12/10/2012Announces $3 Million Financing
12/10/2012Announces $3 Million Financing
11/7/2012Bourque 1 Generates Direct Economic Spinoffs of $2.6 Million...
10/31/2012Hydrocarbons Over a 1,850 m Interval in Bourque No. 1 Well
9/24/2012Status of Exploration Activities Underway in the Gaspe Penin...
9/22/2011No substential change
6/29/2011First Resource Assessment of Macasty Shale, Anticosti Island...
5/20/2011Allocation of Stock Options
3/2/2011Various Administrative Changes
2/17/2011Unaware of any Material Change
1/26/2011Files a Lawsuit Against Le Soleil and Ugo Lapointe
5/20/2010To drill four oil exploration wells on Anticosti Island
10/28/2009progresses and drills the Tar Point No. 1 well
9/18/2009Start of P=E9trolia's Haldimand No. 2 Well
9/3/2009P=E9trolia commits itself for two wells
7/31/2009regains control over the Haldimand Project operations
4/28/2009aims big with the Haldimand Corridor Project
3/30/2009New members for Petrolia's board of directors
2/26/2009Information to be available through Standard & Poor's Market...
9/23/2008currently planning its drilling campaign for Anticosti
8/5/2008Signs a $20 Million Farmout Agreement
7/9/2008Junex and Gastem Announce the Start of Operations at Haldima...
5/20/2008ANNOUNCES $10,000,000 Financing
1/31/2008Pilatus becomes the first shareholder of Pétrolia
1/29/2008Purchases Hydro-Quebec's Petroleum Interests on Anticosti
12/10/2007 Reassessment of the petroleum potential of the Central Gasp...
10/31/2007Closes $1,750,000 investment
10/11/2007First closing of $3 Million at $1.00 per share with European...
9/19/2007Pétrolia a bon espoir de régler deux dossiers problématiques
6/22/2007Attribution d'options d'achat d'actions
3/29/2006Haldimand #1 well produces 156 barells of oil in preliminary...
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TSX-V (PEA.V)
0.700-4.11%
TSX-V
CA$ 0.700
07/28 15:59 -0.030
-4.11%
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