Rimouski, September 27, 2010. Petrolia wishes to specify that the oil and gas exploration licences held by the company in the Gaspé Peninsula and on Anticosti Island, are land based and that they are therefore not targeted by the exploration moratorium in the St-Lawrence Estuary. The declaration by the Minister of Natural Resources and Wildlife only concerns the marine area of the St-Lawrence Estuary where Petrolia does not hold any licence. The company’s activities are thus proceeding in accordance with its agreed exploration program.
Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licences covering 15,000 km² (3.7 million acres), which represents about 18% of the Quebec territory presently under lease. The licences, the majority of which are located on the Gaspé Peninsula and on Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease presently for which there is land-based oil potential in Quebec. Pétrolia has 50 million 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.