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Petroworth Resources Inc. C.PTW



CSE:PTW - Post by User

Post by mpsl45on Oct 27, 2010 5:51pm
209 Views
Post# 17620828

PetroWorth seeks natural gas in PEI

PetroWorth seeks natural gas in PEIFrom Ocean Resources Magazine:

PetroWorth seeks natural gas in PEI

10/27/2010

PetroWorth Resources of Toronto completed a week's worth of seismic testing for natural gas in eastern P.E.I. on Monday.

A series of trucks tested a 14-kilometre stretch of ground, using hydraulic compressors to shake the ground and create seismic shock waves. It was the second round of testing by PetroWorth at the site located in Albion Cross west of Souris. The company is looking for closure, a solid rock ceiling that must exist if they hope to someday get natural gas to the surface.

"Certainly we hope that they're successful," said Ron Estabrooks of the P.E.I. Department of Energy.

"PetroWorth has spent a lot of money here on P.E.I. to see if there is actually natural gas in commercial quantities."

PetroWorth holds exploration rights on more than 160,000 hectares of land on P.E.I.

The seismic testing at Albion Cross is looking at rock formations some three kilometres underground. It will help engineers decide if it's worth spending millions of dollars more to drill a test well. One of PetroWorth's (former) partners, Corridor Resources, has drilled two test wells on P.E.I. in recent years.

PetroWorth is also doing seismic work near Sackville, N.B., and has applied for permission to drill an exploratory oil well in Cape Breton.

(CBC News)
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