MONTREAL – A judge says he will rule Friday in the dispute between Petrolia Inc. and the Quebec government over exploratory oil and gas drilling on Anticosti Island.
Petrolia is seeking an injunction to force the government and a private firm to give it a total of nearly $13 million.
The two sides have not yet reached an agreement and Quebec Superior Court Justice Martin Castonguay said he will hand down a ruling Friday.
Petrolia (TSX-V:PEA) and Corridor Resources yielded their exploration permits for Anticosti Island in 2014 in exchange for the promised investment. That deal was reached under the previous Parti Quebecois government.
The exploratory work on three wells was scheduled to begin this summer and was aimed at determining Anticosti’s hydrocarbon potential in terms of quality and volume.
Petrolia is trying to block an attempt to put off the work until 2017, saying that could result in an unspecified number of job losses and jeopardize the future of the project in eastern Quebec.