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Petrolia Energy Sells Bow Energy while Keeping Stake in Indonesian Assets
Posted on Wednesday September 05, 2018
Petrolia Energy Corporation (BBLS) (“Petrolia” or the “Company”) is pleased to announce the sale of Bow Energy Ltd. (“Bow”) to Blue Sky Resources Ltd. (“BSR”), a privately held company with existing oil and gas operations in Indonesia. The Company will retain a direct 20% interest in all 5 Indonesian Production Service Contracts (“PSC”) held by Bow.
Petrolia Energy Announces Farmout Agreement on Oklahoma Property
Posted on Tuesday July 24, 2018
Petrolia Energy Corporation (BBLS) (“Petrolia” or the “Company”) is pleased to announce the signing of the Slick Unit Exploration and Development Agreement (the "Agreement") with Boone Operating Inc. ("Boone"), a private Exploration & Production company, to explore and develop the Misener and Simpson Formations at the Slick Unit Dutcher Sands Field (“SUDS Field”). Under the terms of the Agreement, the development area consists of 480 Acres where Boone will carry the cost of drilling the first well and will earn a 75% Working Interest (“WI”) position in that well. If the first well is successful, Boone will have the right to further develop the zone and Petrolia will maintain the right to participate in further drills, up to a 25% WI in each new well.
Petrolia Energy Corporation (BBLS) (“Petrolia” or the “Company”) is pleased to announce that it has acquired a 25% working interest in the Luseland, Hearts Hill, and Cuthbert fields, located in Southwest Saskatchewan and Eastern Alberta, Canada. Petrolia believes there is significant potential in these assets beyond primary recovery through the implementation of water flood/pressure support, as well as numerous reactivations and infill drilling opportunities, in addition to the opportunity to reduce operating expenditures. We believe these efforts would significantly extend the life of, and increase recoverability of reserves from, the assets. Zel C. Khan, the CEO/President of Petrolia, commented, "This was a fantastic acquisition for our Company. With the implementation of new technology and modern methodology, we believe production and life expectancy can be dramatically increased.
Petrolia Energy Welcomes a New Director and a New Chairman
Posted on Tuesday May 01, 2018
Petrolia Energy Corporation is pleased to announce the appointment of Mr. Ivar Siem to its Board of Directors. Mr. Siem fills the vacancy left following the recent passing of Mr. Lee...