RIMOUSKI, QUEBEC -- (Marketwired) -- 07/16/13 -- Petrolia (TSX VENTURE: PEA) is pleased to announce that Gildas Collin will be joining the Petrolia team as head of operations on October 1, 2013. His appointment underscores the company's strategy to pursue development of the Haldimand oil field in Gaspe and implement a broad exploration program to assess the potential for oil production on Anticosti Island.
An engineering graduate of Arts et Metiers and Institut Francais du Petrole, with a specialty in economics and management, Gildas Collin boasts more than 20 years of experience in oil and gas. Before coming to Petrolia, Gildas Collin served since 2011 as chief petroleum engineer at the headquarters of Perenco, an independent oil and gas company based in London and active on four continents. During his career he has acquired a wealth of experience in key areas of oil and gas exploration and production. His practical experience in directional drilling and hydraulic fracturing operations combined with his in-depth knowledge of reservoir modeling, oil reserve estimation, and economic project analysis are highly valued assets for the head of operations position.
In his new role Gildas Collin will oversee all of Petrolia's field operations. Although he will be based in Quebec City, he will make regular site visits to ensure compliance with operational and safety requirements.
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 14,000 km2 (3.5 million acres), which represents about 17% of the Quebec territory under lease. The leases, the majority of which are located on the Gaspe Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease for which there is land-based oil potential in Quebec. Petrolia has 69 431 372 shares issued and outstanding and has a working capital of $ 4,000,000.
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Petrolia 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 o statements made by Petrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Petrolia 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.
VP, Business Development
Quebec City: (418) 657-1966
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