Petrolia Inc. : Important quantities of hydrocarbons trapped in a reservoir in Bourque 1

Rimouski, January 30, 2013 : Pétrolia (PEA-TSXV) confirms that the results of analysis on the well Bourque 1, drilled in the summer 2012, reveal the presence of a reservoir containing important quantities of hydrocarbons (oil, condensates and natural gas). This result justifies the mandate given by Petrolia to an independent expert, Sproule Associates, to evaluate the volume of hydrocarbons initially in place in this reservoir. Located in the Forillon Formation, it is characterised by the presence of numerous vugs which can reach large sizes, up to several tens of centimeters and which are associated with open fracture zones.

The analysis of an imaging log (FMI) by Schlumberger Canada confirms the presence of a reservoir of good capacity. The analysis demonstrates that the Bourque 1 well penetrated numerous zones where this type of (vuggy) porosity develops, between the depths of 1465 m and 1820 m (355 meters interval).

This result adds to those obtained during drilling, when two tests carried out on part of this interval have demonstrated the presence of hydrocarbons (oil, condensates and natural gas). One of these tests (at the top of the interval) recovered very light oil (53° API) whereas the second one (in the centre of the interval) yielded an initial flow of 1.4 million cubic feet per day of natural gas, condensates and light oil (see October 31, 2012 press release).

Vuggy porosity cannot be detected during analysis of the drill cuttings (one to two millimeters in diameter) because of the large size of the vugs (up to several tens of centimeters). In carbonates, this porosity is often associated with weathered zones located close to main faults, such as the North-West Arm fault which transects the Bourque structure.

The regional context suggests that weathered zones containing this type of reservoir could be present along the North-West-Arm fault, which extends over more than 60 km length. Acreage located along this fault thus becomes an interesting target in the search for hydrocarbons.

Considering these results, Petrolia has decided to conduct similar analysis on Bourque 2. Afterward, Petrolia will undertake production tests on both wells.

About Pétrolia
Pétrolia 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 Québec territory under lease. The leases, the majority of which are located on the Gaspé 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 Québec. Pétrolia has 67 682 300 shares issued and outstanding.

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