An independent assessment by Sproule Associates, a petroleum consulting firm, estimated that there are 70 million barrels of oil in the Haldimand Peninsula, a 9 km2 area. The same study put the volume of recoverable oil at 7.7 million barrels.
This may sound like a relatively small discovery, but it could well lead to the development of other deposits in the same geological formation, which covers a 1,500 km2 area in the Gaspé peninsula. Haldimand may well be the tip of the iceberg. And there are equally promising projects under development elsewhere in the region, in places like Tar Point and Bourque.
The Haldimand 4 Well may provide the proof we were looking for that commercial oil production in Quebec can be viable. Production will begin once a production lease has been issued by Ministère des Ressources naturelles (MRN).
Before production can go forward, Pétrolia must complete a profitability study and prepare a development plan detailing the type of reservoirs, number of wells, and means of transport it will use. The plan will require consultation with municipal officials and the public. All information will be shared with MRN when Pétrolia applies for a production lease.
Pétrolia must also obtain an environmental certificate of authorization from Ministère du Développement durable, de l’Environnement, de la Faune, et des Parcs (MDDEFP). A public hearing conducted by BAPE (Bureau d’audiences publiques sur l’environnement) will also likely be necessary before a production lease is granted.