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Petrolia deepens the Haldimand No. 1 well to 1,500 metres
Petrolia deepens the Haldimand No. 1 well to 1,500 metres.
About this update from Cavvy Energy Ltd
[{"type":"text","content":"\n\n\n\n\nRIMOUSKI, Feb. 22 /CNW Telbec/ - Petrolia (PEA: TSX-V) has decided to\ncontinue its drilling operations on the Petrolia-Haldimand No.1 well to a\ndepth of 1,500 metres, which is 300 metres further than what had been\ninitially planned. The recurring presence of oil in the well from 952.5 metres\n(press release of February 7), and the analysis of geological and geophysical\ndata has prompted Management to continue its drilling operations to reach a\nsecond area of interest located at approximately 1,450 metres.\nLocated under a fault, this area possesses significant geophysical\nproperties. Indeed, a decrease in the seismic speed, similar to that of the\nfirst area of oil showings, is visible under the fault. Continuing drilling\noperations to a depth of 1,500 metres will allow Petrolia to analyze the\npotential of this second area of interest.\nAs of yesterday, the drilling operations had reached 1,377 metres and\nover 11,000 litres of oil, or 70 barrels, had been collected.\nPetrolia owns 90% of this well and Gastem (GMR: TSX-V) owns 10%.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1249,"tagName":"div"}]