Petrolia, Junex, Gastem Complete Canadian 3D Seismic

Petrolia, Junex and Gastem have completed a 3D seismic survey as well as a soil geochemistry survey on a 13 km2 area adjacent to the Petrolia Haldimand-1 discovery well near the city of Gaspe on the Gaspe Peninsula. As announced on July 8, 2008, these operations form part of the program to delineate the extent of the Haldimand oil discovery.

"The completion of the 3D seismic survey is a particularly important phase of the $5 million exploration program currently underway on the Haldimand project since it will enable us to better image and understand the geology of this area. These surveys represent the last step prior to the drilling of additional wells in the Haldimand joint land and we are pleased that these operations have been completed within the timeframe previously announced," explained the partners of the project.

In addition to the seismic and geochemistry surveys, the partners also recovered the downhole pressure gauge that was installed in the discovery well in 2006. The processing, analysis and interpretation of the results from all of these operations will be conducted during the upcoming weeks, which will enable the partners to select the location of the next well in the area. The project partners hope that further drilling operations will commence prior to year-end 2008.


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