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Strategic agreement signed between Anticosti Hydrocarbons and Gaz Métro to develop natural associated gas from Anticosti Island
MONTREAL , Oct. 23, 2014 /CNW Telbec/ - (TSXV: PEA | TSX: CDH | EPA: MAU | EPA: MPI) &#x...
About this update from Headwater Exploration Inc.
[{"type":"text","content":"\n\nMONTREAL, Oct. 23, 2014 /CNW Telbec/ - (TSXV: PEA | TSX: CDH | EPA: MAU | EPA: MPI) – Anticosti Hydrocarbons L.P. (\"Anticosti Hydrocarbons\"), a limited partnership between Ressources Québec Inc., Pétrolia Inc., Saint-Aubin E&P (Québec) Inc., and Corridor Resources Inc., is pleased to announce that it has signed a strategic agreement in principle with Gaz Métro Limited Partnership (\"Gaz Métro\") to develop associated natural gas from Anticosti Island.\n\nThe agreement with Gaz Métro will provide Anticosti Hydrocarbons with access to the expertise of Quebec's leading gas distribution utility and distribution franchise-holder on Anticosti Island to identify economic, operational, and technical solutions to transporting associated natural gas to consumer markets should any be produced in the event hydrocarbon resource production gets underway on Anticosti Island.\n\nThere are a variety of technical issues to address, including storage, transportation, and distribution of the gas. Subject to compliance with the terms and conditions set forth in the agreement, Gaz Métro will have acquisition rights to any natural gas produced from wells on Anticosti Island and be able to transport or distribute it to the markets, at a price that will allow its marketing while taking into account prevailing prices. \n\nIn return for Gaz Métro's expertise, Anticosti Hydrocarbons has agreed to an exclusive partnership with Gaz Métro for the next five years.\n\n\"This agreement in principle creates an important partnership for the Anticosti project. Developing associated natural gas will create positive spinoffs for Quebec and, with the new maritime strategy announced by the government, could provide a solid leg up to Quebec businesses, particularly those involved in the Plan Nord,\" stated Alexandre Gagnon, chair of the Anticosti Hydrocarbons operations committee.\n\nAbout Anticosti Hydrocarbons L.P.Anticosti Hydrocarbons L.P. is a partnership owned by Ressources Québec (35 %), Investissements PEA Inc. (a subsidiary of Pétrolia Inc.) (21,67%), Saint-Aubin E&P (Québec) Inc. (a subsidiary of Maurel & Prom and MPI) (21,67 %) and Corridor Resources Inc. (21,67 %). The partnership holds 38 permits for hydrocarbon exploration totaling 6195 km² on Anticosti Isla...