RIMOUSKI, QUEBEC — (Marketwire) — 07/19/11 — Petrolia (TSX VENTURE: PEA) is pleased to announce that it has acquired the lot formerly occupied by Xstrata Canada Corporation. This 152 969-sq. ft. lot in the Sandy Beach industrial park is less than three kilometres from the Haldimand deposit. Strategically located, it offers access to road, rail and port networks.
The acquisition demonstrates Petrolia–s commitment to putting the deposit into production as soon as possible. Purchasing a site in an industrial zone also aligns with the company–s objective of smooth integration into the surrounding environment. The site will provide a place where Petrolia can set up permanent tanks and industrial equipment related to developing the Haldimand deposit. An environmental characterization was carried out on the site before its purchase, showing that it met the regulatory requirements for how Petrolia plans to use it as part of the Haldimand deposit operations.
About Petrolia
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 15,000 km2 (2.7 million acres), which represents about 17% of the Quebec territory under lease. The leases, the majority of which are located on the Gaspe Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease for which there is land-based oil potential in Quebec. Petrolia has 50 million shares issued and outstanding.
Forward-looking statements
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Petrolia and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications of statements made by Petrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Petrolia does not intend and undertakes no obligation to update these forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Petrolia Inc.
Isabelle Proulx
Vice-President
Quebec City: (418) 657-1966
Petrolia Inc.
Andre Proulx
President
(418) 724-0112