Petrolia estimates gas find in Quebec to be 1 TCF in-place
QUEBEC -- Local independent operator Pétrolia said that the results of a resource evaluation, carried out by Sproule Associates Limited, show that there is 1 Tcf of initially-in-place wet natural gas among four prospects within its Bourque project, onshore Quebec, Canada. This project is in forested Crown land, where Petrolia drilled two wells during 2012.
This independent evaluation, was carried out at Petrolia's request, and is consistent with national definitions and standards.
During drilling and testing operations, wet natural gas and traces of light oil were recovered. This wet natural gas is rich in liquid petroleum gases (propane and butane) and condensate (pentane, hexane, etc.).
Analyses of the tests show a conventional low permeability carbonate reservoir (tight gas carbonate reservoir) of the Forillon formation, which extends over large areas and is close to major faults, such as the North West Arm Fault. Pétrolia said that this "constitute a promising exploration play in the Gaspé Peninsula."
The territory between wells Bourque 1 and Bourque 2 has not, for the time being, been considered in the resource estimate carried out by Sproule. Resources of four prospects in the low-permeability carbonates of the Forillon formation were evaluated. Results for these prospects include 524 Bcf, in-place, in the Bourque North prospect; 194 Bcf in Bourque Central; 221 Bcf in Bourque South; and 102 Bcf in the Bourque 2 Area. The report indicates that the data do not allow an estimation of the liquid hydrocarbon volumes (condensate and light oil), whose commercial value is higher than that of the dry gas.
Petrolia is in the process of preparing a production test program for these two wells, based on Sproule's recommendations.