Cavvy Energy LtdTSX: CVVY

Oil Accumulation in PEA-3 Well

· Issued by Cavvy Energy Ltd via CNW
Cavvy Energy's next earnings callCavvy Energy (TSX:CVVY) Q3 2026 Earnings Call · Nov 6, 2026 at 10:30 AM ESTRegister
RIMOUSKI, Jan. 23 /CNW Telbec/ - PDetrolia (PEA : TSX-V) announces the
recovery of 200 litres of oil once work was resumed in the Haldimand (pound
sign) 1/PEA-3 well, on the Gaspe property, 5 km from the Town of Gaspe.
Drilling was suspended for the Christmas holiday period at a depth of
806 metres. The 25 days work-stoppage period enabled an accumulation of
greenish-black coloured oil in the well, a good indication of oil in the
Devonian sandstone of the Haldimand sector. This is in addition to the natural
gas and oil shows encountered during phase one of the work. "Although these
are positive elements, we must wait until the end of the drilling and pumping
tests before confirming that well as prospective to profitable exploitation,"
declared AndrDe Proulx, Company President.
To date, drilling has reached a depth of 832 metres, representing
slightly more than 2/3 its total anticipated depth.
The PEA-3 well, 90% interest held by PDetrolia and 10% by Gastem (GMR :
TSX-V), is part of Petrolia's 14-well drilling program undertaken in 2005 and
anticipated for completion in 2006.

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