QUÉBEC CITY, QUÉBEC--(Marketwired - Jan. 9, 2014) - Pétrolia (TSX VENTURE:PEA) announces the beginning of the court hearings to determine the legality of a municipal by-law of the City of Gaspé, officially adopted on December 22, 2012. This by-law governs the minimum permissible distance between drill holes and drinking water sources in the City's territory and imposes other conditions relating to drilling.
Pursuant to discussions with the City of Gaspé last November, the hearings had been postponed to allow the Quebec Government to proceed with the adoption of a provincial regulation on water sampling and protection. Pétrolia and the City of Gaspé agree that the adoption of this regulation by the Quebec Government would render the municipal by-law null and void, which would put an end to the judicial proceedings. Although Pétrolia is still pursuing discussions with government representatives, we have taken this recourse to the courts to obtain clarity on these matters.
About Pétrolia
Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km² (4 million acres), which represents about 22% 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 71% of the territory under lease for which there is land-based oil potential in Québec. Pétrolia has 70 652 372 shares issued and outstanding.
Forward-looking statements
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