News Column

Petrolia: Positive Results on Anticosti

Page 2 of 1

LogoTracker

RIMOUSKI, QUEBEC -- (Marketwired) -- 07/11/13 -- Petrolia (TSX VENTURE: PEA) is pleased to announce positive results of core analyses from the Macasty Formation on Anticosti Island. These results relate to the cores taken in 2012 from three stratigraphic coreholes in the western part of the island, as well as analyses of samples from 14 older wells spread across the entire island. These results are higher than the ones used by Sproule Associates Limited in its resource assessment report dated July 12, 2011 for the best estimate of the Total Petroleum Initially-In-Place of 33.9 billion barrels of oil equivalent (Bboe).

Thermal maturity study was conducted by Rudolf Bertrand (Ph.D.) Visiting Scholar at Institut national de la recherche scientifique (National Institute of Scientific Research). The thermal maturity caracterisation was done on 200 samples taken every 100 meters from the surface down to the top of the Trenton Formation. This study indicates that the licenses, held by Petrolia and its partner, predominantly lie within the oil window.

Geochemical (Rock Eval), petrophysical and mineralogical analyses were performed by Weatherford and TerraTek Labs (a Schlumberger company). Nine hundred (900) samples were analyzed using the Rock Eval method. In the three coreholes drilled in 2012, the samples from Mcasty were taken with a very high sampling distribution, i.e., every 50 cm. The results reveal impressive average values for total organic carbon (TOC) of nearly 4.0% over the whole thickness of the Macasty Formation, which is 91.5 m for Princeton Lake, 57 m for Highcliff and 29 m for Oil River. The Rock Eval analysis conducted on the older wells also yielded high TOC values for mainly the whole area under license. These TOC results are higher than those wells in Ohio, which is recognized for its petroleum production from the Utica Formation (the Macasty lateral equivalent).

The hydrocarbon concentrations present in the rock (S1) indicate a favourable potential for hydrocarbon production, i.e., averaging 4.48 mg/g at Princeton Lake, 3.20 mg/g at Highcliff and 2.21 mg/g at Oil River. These results demonstrate that the samples recently collected in the 2012 coreholes yield (S1) values that are higher than those resulting from analyses of samples drawn from older wells.

Petrophysical analyses of the cores carried out by TerraTek confirm the presence of favourable porosities and permeabilities for the production of petroleum from this type of formation.

Porosities and permeabilities

-------------------------------------------------------- Princeton Lake 2012 Highcliff 2012 (Thickness 91.5 m) (Thickness 57 m) -------------------------------------------------------- Mean Maximum Mean Maximum----------------------------------------------------------------------------Hydrocarbon Filled Porosity (% of BV) 3.30 4.88 4.01 6.07----------------------------------------------------------------------------Effective Porosity (% of BV) 3.67 5.23 4.80 6.93----------------------------------------------------------------------------Pressure-Decay Permeability (mD) 0.000138 0.000280 0.000167 0.000263---------------------------------------------------------------------------- -------------------------------------------------------- Oil River 2012 Chaloupe No1 2010 (Thickness 29 m) (Thickness 40 m) -------------------------------------------------------- Mean Maximum Mean Maximum----------------------------------------------------------------------------Hydrocarbon Filled Porosity (% of BV) 2.11 2.72 2.23 2.70----------------------------------------------------------------------------Effective Porosity (% of BV) 3.09 4.42 2.68 3.51----------------------------------------------------------------------------Pressure-Decay Permeability (mD) 0.000110 0.000178 0.000075 0.000081----------------------------------------------------------------------------



Mineralogical analyses carried out by TerraTek and Weatherford show that the Macasty is made up of a large assemblage of non-clay minerals dominated by quartz and, in lesser proportions, by carbonates, feldspars and pyrite. The small proportion of clay minerals favours rock fracturing and constitutes a positive criterion in terms of the production potential of the Macasty, using fracture stimulation techniques.

Mineralogy

---------------------------------------------------------------------------- Petrolia Princeton Petrolia Petrolia - Oil Lake 2012 Highcliff 2012 River 2012 (Thickness 91.5 m) (Thickness 57 m) (Thickness 29 m) ---------------------------------------------------- Mean Mean Mean----------------------------------------------------------------------------Clay minerals (%) 28.4 31.2 29.6----------------------------------------------------------------------------Non Clay minerals (%) 71.6 68.7 70.4 --------------------------------------------------------------- Including Quartz (%) 36.3 38.6 35.9 --------------------------------------------------------------- Carbonates (%) 21.5 16.6 19.8----------------------------------------------------------------------------



Overall, these results of this coring program indicate that the Macasty shales are favourable for the production of petroleum. This new data will aid in advancing the next stage of exploration and in positioning oil wells. The rights Petrolia and its partner on Anticosti Island cover more than 6,000 km2 (1.5 million acres), that is, over 76% of the island's land area.

About Petrolia

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.

Forward-looking statements

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.



Contacts:
Isabelle Proulx
VP, Business Development
Quebec City: (418) 657-1966
info@petroliagaz.com

Andre Proulx
President
(418) 724-0112
president@petroliagaz.com
www.petroliagaz.com



Story Tools