Work in progress

Haldimand Project (45% interest)

The Pétrolia-Junex-Gastem partnership has set itself the objective of outlining the extent of the productive horizons identified in the Pétrolia-Haldimand No. 1 well. The proposed work, with an estimated cost of M, comprises three separate phases:

• Continuation of analyses and tests in the Pétrolia-Haldimand No. 1 well;
• a 3-D seismic-survey program;
• and finally Drilling of a second borehole targeting the productive zones already identified in the previous well.

Previous work

Haldimand - 900 hectares

Summary

• Permits acquired in 2005
• Partnership with Junex (45%) and Gastem (10%)
• Oil and gas potential of the area demonstrated
• Most explored area in the Gaspé region: 7 wells since 1999
• Acquisition of seven seismic profiles in 2005 with a total length of 34 km
• Discovery of light crude in the Petrolia-Haldimand No. 1 well in 2005
• Characterization of the organic matter and petrography of the Petrolia
• Haldimand No. 1 well in 2007
• Signature of a joint operating agreement for development of the Haldimand oil and gas project in 2008
• 3-D seismic campaign over an area of 13 km² in 2008
• Recovery of a pressure recorder installed in the well in 2006 and collection of petroleum samples under reservoir conditions

Proposed work

• Continuing analyses and tests in the Petrolia-Haldimand No. 1 well
• Extended production test to confirm the production capacity of the Pétrolia-Haldimand No. 1 well
• More detailed geologic studies of the various formations
• Drilling of a second well to target the producing zones identified in the previous well

Cumulative cost of work: 2,454,790

Haldimand Corridor

Summary

• North and south extensions of the Haldimand Project
• A reassessment of the available data and reprocessing of some of the old seismic lines was carried out
• Soil-geochemistry survey conducted in 2008 (900 samples)
• Acquisition of six seismic lines with a total length of 61 km, including a subsea portion.
• High-resolution airborne magnetic survey to extend the government surveys to the east

Proposed work

• Analyses of organic matter from drill and field samples
• Planning of a drilling campaign

Cumulative cost of work: 203,296

Bourque: 74,267 hectares

Summary

• Exploration of Devonian reefs
• Recognized petroleum potential
• Acquisition and interpretation of old seismic data, now in the public domain
• 3-D seismic acquisition in 2008
• Study of the maturation of organic matter in surface samples collected in 2007

Proposed work

• Interpretation and evaluation of the results of the 3-D seismic survey
• Planning of a drilling campaign

Cumulative cost of work: 3,153,270

Anticosti: 638 106 hectares

Summary

• Permits acquired in 2007
• Partnership with Corridor Resources Inc.
• Interpretation of seismic lines and available drilling data
• Soil-geochemistry survey carried out in 2008 over the entire island,
  (1,700 samples)

Proposed work

• Evaluation and compilation of the latest field work
• Study aimed at the characterization of the organic matter in three wells from the eastern portion of the island
• Planning of a drilling campaign