Petrolia Inc.: Hydrocarbons Over a 1,850 m Interval in Bourque No. 1 Well

RIMOUSKI, QUEBEC--(Marketwire - Oct. 31, 2012) - Pétrolia (TSX VENTURE:PEA) announces that drilling at Bourque No. 1 well is now complete. A tubing was installed with a view to carry out at a later stage, a sustained production test over a 900 m open hole interval between the depths of 1,832 and 2,746 m in order to verify if commercial flow rates can be achieved over this interval. The well's measured depth is 3,140 m, with a true vertical depth of 2,921 m. Wet gas shows containing condensate (C3 to C7+) in concentrations of up to 20% were registered over a 1,850 m interval between 995 and 2,852 m.

During operations, eight (8) drill stem tests were conducted on 20-30 m intervals. These tests all yielded gas to surface with condensate. The most promising test delivered a maximum flow of 1.4 million cubic ft. of gas per day. A small amount of light petroleum was also recovered in the drilling mud. These test results are currently undergoing further analysis.

Starting at a depth of 1,465 m, in the cased section of the well, drilling penetrated a massive interval for which electric logs indicate porosity over a thickness of more than 100 m. This zone is characterized by abundant calcite from fractures and localized high-temperature dolomite. All drill cutting samples from this zone displayed fluorescence when cut with a solvent, an indicator of oil in the rock. In addition, a substantial show of gas was recorded at the top of the interval in a fractured zone, and light oil (53° API) was recovered in the sample chamber. This result leads to add oil as an objective for well Bourque No. 2.

The drilling equipment has been mobilized to the Bourque No. 2 site.

About Pétrolia

Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 14,000 km² (3.5 million acres), which represents about 17% 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 70% of the territory under lease for which there is land-based oil potential in Québec. Pétrolia has 66 645 750 shares issued and outstanding.

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