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QUEBEC, QUEBEC–(Marketwired – Jun 22, 2017) – Pétrolia (TSX VENTURE:PEA) appear aftermost December 23rd that the best contempo footfall in the action of acknowledging the attendance of assets on the Bourque property, namely the re-entry and achievement of Bourque No. 1 as able-bodied as the conduct of an added able-bodied (Bourque HZ No. 3), were completed on time and aural the budget. At the time, down-hole recorders were bargain in both wells in adjustment to abide accession burden data.

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Drilling assignment for the crabbed area of Bourque No. 1 began on September 25 and, thereafter, the conduct rig was confused a few metres against the s amplification of the Bourque No. 1 armpit to assignment Bourque HZ No. 3.

The down-hole recorders were removed on May 17th and abstracts was transmitted to Petro Management which issued its final address on June 19.

Bourque HZ No. 1 R1

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After accepting recovered the 181 m3 of fluids acclimated during the completion, the Bourque HZ No. 1 R1 Pétrolia able-bodied experienced, in its antecedent assembly period, a abatement of its gas breeze to the apparent from 40,400 m3/ day bottomward to a breeze too baby to be abstinent (TSTM). It consisted of wet gas in which 120 litres of ablaze oil (43,57 ° API) was recovered. The able-bodied was again bankrupt for a abbreviate aeon for burden buildup.

After a 27-hour aeon of cease and a 2,620 kPa bubbler pressure, and afore the two down-hole recorders were put in place, a changeless burden acclivity assay was performed (with the able-bodied bankrupt at the surface). This assay showed that the abject of the assembly tubing of Bourque HZ No. 1 R1 independent ablaze oil (0.70 kg/l) from the abstinent abyss of 1,625 m amid a the access of the accumbent cesspool to the abstinent abyss of 1,471 m (1,439 m TVD) which suggests an oil vertical cavalcade of 66 m. This oil cavalcade was topped by low burden wet gas.

After a 24-hour aeon of cease and a acceleration of bubbler burden to 3,128 kPa, the able-bodied was again put into assembly on a 6.25 mm (1/4″) asphyxiate valve for a aeon of 8 hours. During assay period, the gas breeze to the apparent accomplished 5,080 m3/ d to afterwards abatement to 1,180 m3/ d at the end of the assay period.

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The able-bodied was afterwards larboard bankrupt for a final burden accretion with the two down-hole recorders until May 17th, 2017 (3,740 hours). During the accretion of the down-hole recorders, a changeless burden acclivity assay was performed (with the able-bodied bankrupt at the surface). This assay adumbrated that the assembly case was abounding with ablaze oil (0.72 kg/l) to a abstinent abyss of 693 m (686 m TVD), which corresponds to an oil vertical cavalcade of 819 m. This oil cavalcade was topped by low burden wet gas.

The attendance of an oil cavalcade that confused up in the tubing to 686 m TVD indicates that the Forillon accumulation from Bourque HZ No. 1 R1 is a backlog absolute ablaze oil and associated gas. A specific abyss sampling action is appropriate to ascertain if it is ablaze oil or gas condensate. The assay of the burden accretion abstracts reveals that the antecedent backlog burden was 9,065 kPa and at the end of the cease aeon was 8,823 kPa.

A ytic acquired assay of the log-log plot-flow administration identification has been performed on the burden accretion abstracts and a acceptable bout was acquired by applying a accumbent able-bodied in a bifold porosity backlog model. The appearance of the acquired suggests that the Bourque HZ No. 1 R1 backlog is formed of mainly bound carbonate-naturally burst formation-and consists of cast blocks agriculture accessible fissures.

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Bourque HZ No. 3

More than 88.3 m3 of aqueous was injected in the Pétrolia Bourque HZ No. 3 able-bodied during cleanup operations, from the bureaucracy of braid tubing on December 16th up to the end of operations on December 20th. 54.4 m3 of aqueous has been recovered in accumulator tanks. The difference, that is 33.9 m3, was injected in the accumulation during these achievement operations.

The aforementioned day, a one-hour assembly assay with a 6.25 mm (1/4 “) asphyxiate valve produced combustible gas with an antecedent breeze of 860 m3/ d abbreviating to a breeze too baby to be measured. Afterwards this assembly period, two recorders were installed down-hole. The attendance of a gas/fluid interface was detected at about 935 m. The able-bodied was again bankrupt for a final burden accretion until May 17th, 2017 (representing 3,580 hours).

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Story Continues

On May 17th, 2017, during the cull out of down-hole recorders, a changeless burden assay was performed (with the able-bodied bankrupt at the surface). This assay shows that the assembly tubing is abounding with baptize (1.06 kg/l) up to the abstinent abyss of 536 m, which corresponds to a baptize vertical cavalcade of 762 m. This baptize cavalcade is baffled with non-pressurized gas. Taking into annual the accessible accumbent cesspool and the baptize cavalcade in the casing, the absolute aggregate is estimated at 34.5 m3, which corresponds to the actual water/brine in the able-bodied at the end of the dispatch test. The assay of burden accretion abstracts reveals that the antecedent backlog burden of the Bourque HZ No. 3 able-bodied is about 8,234 kPa.

Next Steps

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The operations on these two wells accept accustomed the attendance of oil and gas in the reservoir. It has additionally appear that the backlog is bound and will crave some added assignment to acquiesce an bread-and-er production. It charge be acclaimed that 80% of new wells in Canada are completed with hydraulic fracking and that added than 200,000 wells accept been fracked in Canada. To abide the appraisal of the Bourque project, Pétrolia as the abettor will adduce to its ally (Ressources Québec and Tuliq Énergie) the afterward ysis affairs in archival order:

The aborigine aftereffect committee-made up of three assembly of the citizens of Murdochville, one hunting affiliation representative, one Côte-de-Gaspé MRC representative-as able-bodied as the mayors of the anxious municipalities will be kept up to date on the aing operations on these wells. Transparency is at the affection of Pétrolia’s apropos about its relations with communities and it is in this spirit that these aing accomplish will be performed.

About Pétrolia

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Pétrolia is a inferior oil and gas ysis aggregation which owns interests in oil and gas licences accoutrement 16,000 km² (4 actor acres), which represents about 23% of the Québec area beneath lease. Pétrolia is a Québec baton in oil and gas ysis and its eyes is to advance oil from here, by the bodies here, for here. The amusing and ecology ambit are a above affair of Pétrolia and its ysis process. Pétrolia holds 21 .7% of the Hydrocarbons Anticosti L.P. bound affiliation and its Pétrolia Anticosti Inc. accessory is the abettor of its Île d’Anticosti project. Pétrolia has 108,399,683 shares issued and outstanding.

Disclaimer

Certain statements fabricated herein may aggregate advanced statements. These statements chronicle to approaching contest or the approaching bread-and-er achievement of Pétrolia and backpack accepted and alien risks, uncertainties and added factors that may appreciably affect their results, bread-and-er achievement or accomplishments back advised in ablaze of the agreeable or implications or statements fabricated by Pétrolia. Actual contest or after-effects could be decidedly different. Accordingly, investors should not abode disproportionate assurance on advanced statements. Pétrolia disclaims any ambition or obligation to amend these advanced statements.

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Neither the TSX Venture Exchange nor its adjustment casework provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.

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