A judge has ruled the Quebec government and a private firm don’t have to give nearly $13 million to Petrolia Inc. in their dispute over exploratory oil and gas drilling on Anticosti Island.
Quebec Superior Court Justice Martin Castonguay handed down his ruling in Montreal Friday afternoon.
READ MORE: Petrolia seeking injunction against Quebec and private firm over Anticosti
But Castonguay says Ressources Quebec, a subsidiary of Investissement Quebec, and Saint-Aubin must contribute money until next May to enable Petrolia to maintain certain jobs on Anticosti Island.
READ MORE: Energy company Petrolia to meet Quebec government about Anticosti Island drilling
Petrolia (TSX-V:PEA) and Corridor Resources yielded their exploration permits for Anticosti Island in 2014 in exchange for promised investment.
That deal was reached under the previous Parti Québécois government.
READ MORE: Petrolia says Quebec will allow Anticosti drilling to go ahead
Petrolia went to court earlier this month to get the $13 million to ensure exploratory work on three wells would begin as scheduled this summer.
The work is aimed at determining the hydrocarbon potential, in terms of quality and volume, on Anticosti, in eastern Quebec.
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