Petrolia sees oil potential in Macasty shale core results

07/22/2013
Core analyses of the Macasty formation on Anticosti Island in the Gulf of St. Lawrence offshore Quebec indicate that the shales are favorable for the production of petroleum, said Petrolia, Rimouski, Que. The company said the new data will aid in advancing the next stage of exploration and in determining drillsites. Petrolia and its partner hold rights to more than 1.5 million acres or more than 76% of the island's land area. The results relate to cores taken in 2012 from three stratigraphic coreholes on the western part of the island and to analyses of samples from 14 older wells spread across the entire island. The results are higher than those used by Sproule Associates Ltd. in its res...
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