RIMOUSKI, QUEBEC -- (Marketwired) -- 07/19/13 -- Petrolia (TSX VENTURE: PEA) applauded the judgment handed down by the Honorable Paul Corriveau of the Superior Court of Quebec, who granted Petrolia's motion to dismiss. He also dismissed the originating motion for a declaratory judgment presented by Centre quebecois du droit a l'environnement (CQDE), all of this with costs.
In his judgment dated July 17, 2013, Judge Corriveau indicated that, contrary to statements by CQDE and in light of the Minister's decision, the work performed on Anticosti Island to date did not require a certificate of authorization under the Environment Quality Act. With regard to future work, the judge noted that CQDE's motion is premature and that he foresees no difficulty that would justify the Court's intervention.
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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