"Old Peter" Chaisson tells us that when Islanders requested this tune, they would often refer to it as "the Chaisson Reel." Players from South and Central Kings County – associating the tune with fiddlers from the County's north shore– often called it the Northside Reel.
Although this tune is played mostly in the Eastern half of the Island, I did occasionally encounter it farther west (see for example, the version by Edward P Arsenault).
In essence, The Chaisson Reel is a variant of the popular 18th century Scottish tune Mrs. McLeod of Rasay, in which most of the original diatonic and arpeggiated passages are rendered in pentatonic (five-tone scale) format. For example, a phrase might change from G-A-B-C-D to G-A-B-D-E.
Notation for this tune as played by "Old Peter" Chaisson is in Fiddle Music of Prince Edward Island.