Friday, October 31st12.3°C
21625

Petrolia boss says he'll honour deal with Quebec to drill for oil on Anticosti

MONTREAL - Premier-designate Philippe Couillard may not be keen on the idea but Petrolia is ready to proceed with the former Parti Quebecois government's deal to explore Anticosti Island.

Petrolia (TSX:PEA) president Myron Tetreault said during a speech to a Montreal business group today the oil company would respect agreements recently signed with Pauline Marois's government.

Couillard had said during the election campaign he would like to see exploratory drilling suspended until a strategic environmental study could be carried out.

Tetreault said after his speech he is confident he will be able to fully demonstrate the value of the deal.

He pointed out that the drilling is only to get samples for analysis to determine the site's potential, which the Marois government estimated at 46 billion barrels.

Even if Couillard has said he will respect the deal signed by the outgoing government, he has questioned the wisdom of the state investing $115 million to get a stake in the petroleum exploration companies.

Tetreault would not say if he was worried Quebec might scale back its involvement in the project.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14585.46+126.77
S&P CDNX765.50-6.15
DJIA17341.20145.78
Nasdaq4618.483+52.345
S&P 5002011.49+16.84
CDN Dollar0.8870-0.0064
Gold1169.10-29.50
Oil80.38-0.52
Lumber325.70+2.10
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.12+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.045-0.015
Anavex Life Sciences0.185+0.0139
Metalex Ventures0.03-0.005
Russel Metals32.66+0.44
Copper Mountain Mining2.035+0.065
Colorado Resources0.125-0.015
ReliaBrand Inc0.015+0.003
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.3750.00

 





FEATURED Property
2115667414-669 Houghton Road
1 bedrooms 1 baths
$129,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22620