First oil indication in the PEA-1 well

RIMOUSKI, Oct. 18 /CNW Telbec/ - PDetrolia (PEA-TSX-V) has announced that
the drilling of the PEA-1 well has reached oil reserves in a first set of
geologic horizons at a depth of approximately 650 metres. With a penetration
rate of 10 metres per day, drilling may reach a second target at 760-780
metres within a few days.
"Even if we have to wait for pumping tests before evaluating the
production capacity of this well, initial results are encouraging because we
have drilled through a first set of oil-bearing zones. In fact, from a depth
of 650 metres, we observed oil deposits in the drilling mud from various
horizons. The samples obtained are similar to the light sweet crude oil
discovered in the Galt-3 well. However, we cannot fully evaluate the
significance of this discovery until we have completed oil well logging and
pumping tests. Meanwhile, drilling will continue with heightened interest
because we expect to reach a second oil-bearing target 100 metres deeper,"
remarked PDetrolia President AndrDe Proulx.
Once the drilling is finished, the Schlumberger firm will conduct well
logging to evaluate physical characteristics of the rock such as porosity and
permeability in order to identify potential oil reservoir zones. Afterwards,
pumping tests will measure the wells' production capacity.
The PEA-1 well constitutes the first modern oil prospecting at the base
of the GaspDe Sandstone Group with the purpose of identifying a reservoir zone
for commercial development. At the same time, PDetrolia continues its drilling
program of three sites in the GaspDe area, which should be completed before
December 15.

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