Petrolia and Quebenergie have received the well permit from the Ministere des Ressources naturelles et de la Faune to drill the Haldimand No. 4 well in Gaspe, Quebec.
This well is designed to demonstrate that the petroleum resources of the Haldimand deposit, which have been estimated at 7.7 million barrels, can support an economic production operation.
On completion of this well, Petrolia and Quebenergie intend to estimate the reserves and to initiate production as quickly as possible, in line with their joint objective. Under the partnership agreement, Quebenergie will be responsible for the majority of the costs.