Petrolia is pleased to announce initial results for the Macasty shale Formation oil cores taken from the Princeton Lake and Highcliff coreholes on Anticosti Island by Pétrolia and Corridor Resources in fall 2012. These new results, better than those previously used in resource calculations, lead to a revision of these estimations.
The results of the geochemical analyses compare favorably with results from Chaloupe 1 well drilled on Anticosti in 2010 with results from Ohio where shale oil production is already underway. The Macasty Formation is the lateral equivalent of the Utica Formation in Ohio. Petrolia and Corridor hold licenses covering more than 6,000 km2 (1.5 million acres) on Anticosti Island.
In both cores, samples were taken at 50 cm spacing across the Macasty Formation. The results reveal a remarkable average of 4.0% total organic carbon (TOC) across the entire thickness of the Macasty Formation, i.e., 91.5 m for Princeton Lake and 57 m for Highcliff. The Macasty Formation is located within the oil window. The S1 results (free hydrocarbons) indicate a very positive potential for hydrocarbon production from the Macasty Formation (4.48 mg/g at Princeton Lake and 3.20 mg/g at Highcliff). The analyses were carried out by Weatherford and TerraTek labs. At both coreholes, a 10 m section shows higher TOC values, i.e. 5.9% for Princeton Lake and 5.5% for Highcliff, and an average S1 of 5.71 mg/g and 4.59 mg/g respectively.
