SummaryWork in progress

Haldimand Project (65% interest)

Haldimand Property

Pétrolia is the project operator and has a 65 % share in the Haldimand Property. This property is located a few kilometers from the port of Gaspé, in Quebec. The Pétrolia Haldimand No. 2 well was drilled to confirm the characteristics of the Haldimand reservoir and its petroleum reserves. The well is one kilometer from the discovery well, Pétrolia Haldimand No. 1, which produced an average of 34 barrels per day over a 12-day test period.

Further work

Following these results the well was cased to its full depth of 1,200 m KB and the drilling rig was released on October 15th. A service rig will be mobilized in the near future to carry out production tests on the zones of interest.
Meanwhile, data from the Pétrolia Haldimand No. 1 and No. 2 wells as well as the 3-D seismic data will be studied by Sproule Associates of Calgary. Other firms specialized in fractured reservoirs may also be consulted. These firms will be charged with:

1. recommending a work program for the final design and execution of production tests on the Pétrolia Haldimand No. 2 well;
2. estimating the volume of petroleum in situ and the recoverable reserves;
3. suggesting the most appropriate methods for the development and exploitation of the deposit.

Previous work

Summary

• Permits acquired in 2005
• Partnership with Junex (45%) and Gastem (10%)
• Oil and gas potential of the area demonstrated
• Most explored area in the Gaspé region: 7 wells since 1999
• Acquisition of seven seismic profiles in 2005 with a total length of 34 km
• Discovery of light crude in the Petrolia-Haldimand No. 1 well in 2005
• Characterization of the organic matter and petrography of the Petrolia Haldimand No. 1 well in 2007
• Signature of a joint operating agreement for development of the Haldimand oil and gas project in 2008
• 3-D seismic campaign over an area of 13 km² in 2008
• Recovery of a pressure recorder installed in the well in 2006 and collection of petroleum samples under reservoir conditions

Proposed work

• Continuing analyses and tests in the Petrolia-Haldimand No. 1 well
• Extended production test to confirm the production capacity of the Pétrolia-Haldimand No. 1 well
• More detailed geologic studies of the various formations
• Drilling of a second well to target the producing zones identified in the previous well

Cumulative cost of work: 2,454,790

Tar Point

On December 16h 2009, Petrolia it has made a discovery of light crude oil at Tar Point, in strongly-fractured limestones of the Indian Cove Formation. Preliminary examination of the data from Drill Stem Test (DST) No. 1 suggests that the zone tested could initially produce about twenty barrels of oil per day. A production test to obtain a better estimate of the reservoir's production capacity is scheduled for early January. Deliveries of light crude generated by this production test could begin during the winter of 2010. Based on the results obtained, the zone tested could be selected for hydraulic fracturing, a procedure designed to increase daily production from the well. A second DST, carried out at a lesser depth in the York River Formation, showed indications of oil and the zone could possibly be the subject of hydraulic stimulation.
The Tar Point well bottomed at 2,434 metres in tight sandstones saturated with petroleum. The well had been cased to 2,201 metres. A removable packer was installed at the bottom of the casing to allow if required the assessment of the uncased section at the bottom of the hole. Pétrolia has a 100 % interest in the well.

Summary

• North and south extensions of the Haldimand Project
• A reassessment of the available data and reprocessing of some of the old seismic lines was carried out
• Soil-geochemistry survey conducted in 2008 (900 samples)
• Acquisition of six seismic lines with a total length of 61 km, including a subsea portion.
• High-resolution airborne magnetic survey to extend the government surveys to the east

Proposed work

• Analyses of organic matter from drill and field samples
• Planning of a drilling campaign

Cumulative cost of work: 203,296

Bourque: 74,267 hectares

Summary

• Exploration of Devonian reefs
• Recognized petroleum potential
• Acquisition and interpretation of old seismic data, now in the public domain
• 3-D seismic acquisition in 2008
• Study of the maturation of organic matter in surface samples collected in 2007

Proposed work

• Interpretation and evaluation of the results of the 3-D seismic survey
• Planning of a drilling campaign

Cumulative cost of work: 3,153,270

Anticosti: 638 106 hectares

Summary

• Permits acquired in 2007
• Partnership with Corridor Resources Inc.
• Interpretation of seismic lines and available drilling data
• Soil-geochemistry survey carried out in 2008 over the entire island,
  (1,700 samples)

Proposed work

• Evaluation and compilation of the latest field work
• Study aimed at the characterization of the organic matter in three wells from the eastern portion of the island
• Planning of a drilling campaign

Gaspésia, Edgar and Marcel Tremblay 221 395 hectares

Summary:

• Permits acquired in 2002, 2006 and 2007 100% owned by Petrolia
• A thermical evolution study, realized in 2003 is showing a potential for oil and gas
• Acquisition in 2005 of a 32km  2D seismic line
• Acquisition in 2006 of four 2D seismic line totalizing 126km
• Soil-geochemistry survey carried out in 2008 (334 samples) along Petrolia's sismic lines as well as Natural Ressources's Ministry lines, near the salines
• Acquisition in 2008 of four seismic lines for a total lentgh of 52km

Proposed work:

• Analyse of sismics, magnetics, gravimetric datas and existing geochemistry
• Planning of a drilling campaign

Cumulative cost of work: 3,385,227

Dalhousie: 68 163 Hectares

Summary:

• Permits acquired in 2006 and 100% owned by Petrolia
• Recognition by the Geologic Commssion of Canada for the potential of oil and gaz
• Evalutation in 2008 of the petrophysic characterization for ordovician volcanic rocks, which are one of the potential objective of this area
• Acquisition in 2008 of a gravimetric survey
• 3D modelization of potential fields showing the extend of the aimed structure
• Acquisition in 2008 of 2D recognition seismic profiles for a total length of 39km
• Targets potential will be the object of seismic survey more precise and possibly of drilling

Proposed work:

• Regional study for the geochemistry of the soil
• Planning of a drilling campaign

Cumulative cost of work: 527,247

Gastonguay: 259,040 hectares

Summary:

• Little investigated region
• Only one significative well 
• Similar geological characteristics as Gaspesia and Bourque

Proposed work:

• Works of recognition and compilation of necessary data to estimate the property. If results are encouraging, Petrolia will launch a regional program of seismic survey

Cumulative cost of work: 39,808