Petrolia has recently completed a series of seismic and geochemical surveys on the Gaspesia property, located south of the Parc national de la Gaspesie. This work mainly consisted of the acquisition of four 2D seismic profiles with a length of 54 kilometers, and a 334-sample soil geochemistry survey. The results of these new surveys should be available in early 2009.
"Since it acquired this property, Petrolia has been working steadily to develop it, and has defined a number of areas with potential for hydrocarbons. From a technical viewpoint, this property is sufficiently attractive that a partner may be interested in joining forces with us," explained Andre Proulx, Petrolia's President.
Indeed, the work carried out during the summer reinforces earlier work done in 2006 and 2007, which included a 126-kilometer seismic survey, the reprocessing of previous seismic profiles, and a thermal study, as well as ground surveys. The results from that work had shown that the Silurian sandstones and limestones on the property have good potential for forming reservoir rocks likely to contain hydrocarbons, and that they are located in proximity to a recognized source rock. The work indicated several promising areas, which encouraged the Company to undertake follow-up exploration.
In line with its investment strategy, Petrolia is now seeking partners to accelerate the discovery of hydrocarbons on its vast property.