Pétrolia Announces 1 Tcf Wet Natural gas within the Bourque Project

Pétrolia (TSXV:PEA) announced results from a resource evaluation which revealed more than 1 Tcf (one thousand billion cubic feet) of wet natural gas within the Bourque project.

As quoted in the press release:

During drilling and testing operations, wet natural gas and traces of light oil have been recovered. This wet natural gas is rich in liquid petroleum gases (propane and butane), condensate (pentane, hexane, etc.). Log evaluation indicates the presence of a reservoir with vuggy type porosity associated with open fracture networks (30 January 2013 press release). Analyses of the tests show a conventional low permeability carbonate reservoir (tight gas carbonate reservoir). Carbonates of the Forillon Formation, which extend over large areas, and located close to major faults, such as the North West Arm Fault, constitute for Petrolia a promising exploration play in the Gaspé Peninsula.

To view the whole press release, click here.