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Communications > Latest newsPetrolia currently planning its drilling campaign for Anticosti Rimouski, Québec September 23, 2008, Petrolia Inc. (PEA-TSX) - In order to select the best drilling locations, Petrolia has successfully completed a large-scale geochemical and geo-microbial survey on Anticosti Island. The Company has applied this unconventional geochemical technique in order to prioritize, amongst a number of structures that have already been detected by seismic, the ones most likely to contain hydrocarbons. This type of survey has been successfully used worldwide for some time, and has located a number of oil fields. In this survey, a total of 1,700 samples were collected throughout the island, at a cost of about $500,000. “On Anticosti, the results of previous seismic work have revealed several potential targets that are effectively ready for drilling. The geochemical survey will help us to prioritize these targets, thereby maximizing our chances of success," explains André Proulx, Petrolia’s President.
These geochemical surveys identify the presence of minute traces of hydrocarbons, called microseeps, in the soil. These seeps consist of microscopic gas bubbles that migrate through the water that fills pores and cracks in the rocks. Since these micro-bubbles are lighter than the groundwater, they percolate upwards to the ground surface above oil and gas deposits. This method also allows the extent of the deposits to be defined, because the hydrocarbon concentration in the microseeps is far greater in that area. Furthermore, it can indicate whether gas or oil is present, although it cannot provide an estimate of either the quantity of hydrocarbons or the depth of the reservoir. In the case of Anticosti, the results of the geochemical studies should be particularly reliable because the structure of its sedimentary basin is relatively simple.
Two analytical techniques were applied on Anticosti Island: the adsorbed gas and microbial techniques: The Adsorbed-gas technique consists of analyzing the concentration and composition of the light hydrocarbon molecules adsorbed on clays in the soils. The Microbial technique measures the concentrations of bacteria that metabolize the various light gases produced from the microseeps. The various carbon chains comprising the hydrocarbons are assimilated by different species of bacteria. The samples collected in the field are therefore processed in the laboratory to develop microbial cultures, which are specific to the gases produced by the microseeps. Plotting the analytical results onto maps enables the areas of potential reservoirs to be outlined.
By enabling the identification of potential hydrocarbon reservoirs and revealing their compositions, this geochemical survey matches perfectly Petrolia's objective to initiate a drilling program on Anticosti Island in the near future. Note that Petrolia has interests covering more than 6,000 km² on Anticosti, and is the operator for 68% of these licences.
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licences covering 15,000 km² (3.7 million acres), which represents about 18% of the Québec territory under lease. These leases, the majority of which are located on the Gaspé Peninsula and Anticosti Island, are considered to be very promising and represent more than 70% of Québec’s land-based oil potential. By forming joint ventures, Petrolia is planning to intensify its exploration program during the upcoming year. The Company has 40.7M shares outstanding and holds 2.2% of the issued shares of Gastem (TSXV: GMR) in addition to a cash position of 11 million dollars. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information Isabelle Proulx André Proulx |
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