Settlement of the Proceedings by the Centre quebecois du droit a l'environnement Relating to the Stratigraphic Survey Program...
30 Junio 2014 - 9:49AM
Marketwired
Settlement of the Proceedings by the Centre quebecois du droit a
l'environnement Relating to the Stratigraphic Survey Program on
Anticosti Island
QUEBEC, QUEBEC--(Marketwired - Jun 30, 2014) - Pétrolia
(TSX-VENTURE:PEA) announces that the Quebec superior court has
issued a judgment approving a settlement agreement between the
parties in the claim by the Centre québecois du droit à
l'environnement (CQDE) regarding the stratigraphic survey
program to be conducted this summer on Anticosti Island. This
judgment allows Anticosti Hydrocarbons L.P., of which Pétrolia
Anticosti inc. is the operator, to proceed with the program this
summer as planned.
Considering that the draft Ministerial Order of June 9, 2014
from the Ministry of Energy and Natural Resources properly
regulates the stratigraphic surveys, that Pétrolia intends to
comply with this Ministerial Order and that the Company
acknowledges that a certificate of authorization is required to
carry out future oil exploration wells, the CQDE has agreed to
discontinue their motion for interlocutory injunction and confirmed
that a settlement was reached. This settlement relates only to the
stratigraphic survey program on Anticosti Island.
About Pétrolia
Pétrolia is a junior oil and gas exploration company which
owns interests in oil and gas licenses covering 16,000 km² (4
million acres), which represents almost 23% of the Québec territory
under lease. The closing of a partnership on Anticosti Island has
led to the creation of Anticosti Hydrocarbons L.P., a limited
partnership in which Pétrolia holds a 21,7% interest. In order to
carry out the project's operations, Pétrolia Anticosti Inc., a
subsidiary of Pétrolia, was designated project operator. Pétrolia
is a Quebec company whose objective is to develop oil from here, by
the people here, for here. Pétrolia has 74,667,372 shares issued
and outstanding.
Forward-looking statements
Certain statements made herein may constitute
forward-looking statements. These statements relate to future
events or the future economic performance of Pétrolia and carry
known and unknown risks, uncertainties and other factors that may
appreciably affect their results, economic performance or
accomplishments when considered in light of the content or
implications or statements made by Pétrolia. Actual events or
results could be significantly different. Accordingly, investors
should not place undue reliance on forward-looking statements.
Pétrolia does not intend and undertakes no obligation to update
these forward-looking statements.
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.
PetroliaAlexandre GagnonPresident and Chief Executive
Officer418-657-1966agagnon@petrolia-inc.comwww.petrolia-inc.com
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