MPI: Definitive Agreement Signed Regarding Anticosti Island in Quebec

Regulatory News:

MPI (Paris:MPI):

Saint-Aubin Energie (1/3 Maurel & Prom, 2/3 MPI) announces that an agreement relating to the creation of a joint venture, in partnership with Ressources Québec, Pétrolia and Corridor Resources, was signed on 1st April 2014.

This joint venture holds exploration permits on Anticosti Island, Quebec (see map). The first phase of reconnaissance work, amounting to US$55 million at 100%, will begin in summer 2014 and should be completed within two years.

The selection of Saint-Aubin Energie as the Government of Quebec’s partner to test the island’s potential gives the company access to new assets that may be of fundamental importance. This is potentially a major step forward in the Group’s strategic positioning in non-conventional hydrocarbons, which represent three quarters of the oil and gas resources available to humanity.

More information: www.mpienergy.com
Listing market: NYSE-Euronext – Compartment B – CAC All Shares – CAC PME
ISIN: FR0011120914

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