PetroWorth Receives Approval to Drill Oil Well in Cape Breton, Nova Scotia

PetroWorth Resources Inc. (CNQ:PTW) received approval from the Nova Scotia Department of Energy to drill an oil well on its Lake Ainslie Block property in Cape Breton.

The press release is quoted as saying:

On July 29, 2011, the Department of Environment approved PetroWorth’s industrial approval application, which addressed issues such as process waste management and groundwater monitoring. The approval by the Department of Energy now clears the way for PetroWorth to move forward with its exploration plans on Cape Breton.
The proposed well location in West Lake Ainslie is based on the interpretation of new seismic data PetroWorth acquired in 2009, and on the results from a number of historic wells drilled in the area, dating back to 1869. Most of these wells reported encountering oil in three sand packages at relatively shallow depths. One well, drilled in 1874, actually flowed and barrelled oil for commercial sale to the United States. PetroWorth’s proposed well will be at least 800 metres deeper than any of these previous wells, and in addition to the oil-bearing shallow zones, will target a deeper structure in the Strathlorne formation.

Click here to access the entire press release