Nice News Release todayI don`t own PEA but I was very impressed with the news release today!
Lots of interesting projects going on. Interesting that they are targeting the Silurian Sandstone on the permits acquired from Gastem. Looks like they hit gas too from the below. Could this be part of the conventional basin PCQ and Squatex just released results on.
La Verendrye Project
Pursuant to an agreement announced on July 19, 2013 between Pétrolia and Saint-Aubin Énergie S.A.S. (a joint investment vehicle of which 1/3 is held by Etablissements Maurel et Prom SA and 2/3 by MPI SA), the two partners completed drilling of the first core hole in a section of the unorganized territory of Lake Casault. This initial work forms part of a broader plan to develop the licenses acquired in 2013 in the Lower St. Lawrence and the Gaspé, in which both partners hold a 50% interest.
The stratigraphic drilling reached a depth of 1,416 meters and confirmed the presence of gas in Silurian sandstone, further validating the results of the core log taken from a former well drilled nearby. Over the coming months the core samples will be analyzed as to their permeability and porosity in an effort to determine the reservoir characteristics of this sandstone.