Petrolia Gets Go-Ahead from Quebec Government for Haldimand Drilling; Shares Up 5%
Shares of Petrolia Inc. (PEA.V) went up by 5% to $1.55 early in the afternoon from yesterday's $1.47 close, trading even higher compared to the $1.46 open today, after the company announced that the Government of Quebec has granted the company a license to drill a third well at the Haldimand oilfield.
The company said drilling at the well site should begin as the suitable equipment will be available. This will be a horizontal well, located over an area of 9 km2, with recoverable resources estimated at nearly eight million barrels.
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