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The first offshore well in Atlantic
Canada was drilled in Prince Edward Island in 1943;
however, very
little exploration was done afterwards. Since the
1960s, research indicated that there may be three
major reservoirs off of East Point in PEI, thereby holding
an untapped potential for petroleum resources. The
direct evidence of the hydrocarbon potential was the Fina East point well that was drilled off the
province's eastern shore in 1970. As well, the
source potential in the Gulf of St. Lawrence area
was of particular interest to Prince Edward Island
because of wide-spread distribution of oil yielding
rock beds, both onshore and offshore.
The Provincial Government of PEI
has a comprehensive site on its oil and natural gas
industry online at:
http://www.gov.pe.ca/infopei/index.php3?number=17894⟨=E
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