Thursday, August 21st12.5°C
22938
22285

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

22870


Recent Trending




Today's Market
S&P TSX15553.85-8.101
S&P CDNX996.46-0.24
DJIA17026.8747.74
Nasdaq4527.674+1.192
S&P 5001990.52+4.01
CDN Dollar0.9130+0.0015
Gold1276.50-16.90
Oil96.30+1.82
Lumber356.30+1.30
Natural Gas3.86+0.037

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.20-0.01
Cantex0.065-0.005
Anavex Life Sciences0.259-0.001
Metalex Ventures0.0850.00
Russel Metals37.48+0.03
Copper Mountain Mining2.88-0.04
Colorado Resources0.185+0.015
ReliaBrand Inc0.085+0.008
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.22-0.01

 



20828

FEATURED Property
789663312 1450 Bertram Street
2 bedrooms 2 baths
$155,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...


Cost of an Injury Lawyer

Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...

_





22885


Member of BC Press Council


22814