Corridor Provides Update on McCully Farmout Discussions.HALIFAX, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
A condition in which the fetal diaphragm—the muscle dividing the chest and abdominal cavity—does not close completely. Mentioned in: Prenatal Surgery ) announced today that it is continuing farmout discussions with a prospective partner interested in participating with Corridor in the further development of the McCully natural gas field located near Sussex in south central New Brunswick. These discussions have taken an extended amount of time as a result of the complexity of the issues and the number of parties involved, and there is no assurance at this time that a deal will ultimately be consummated. Recently, a second party has commenced reviewing Corridor's McCully data with a view to making a farmin proposal. An update on McCully farmout activities will be provided when significant new information becomes available. The McCully A-67(#1) and P-66(#2) wells continue to demonstrate excellent production performance. After producing for more than 18 months, the wells have produced more than 1.1 billion cubic feet (bcf) of gas at an average daily production rate of 2 million cubic feet and sustained average wellhead pressures of approximately of 1500 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area . In December, 2004, APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture Petroleum Engineering updated its independent engineering report covering the northwest flank of the McCully Field. The report estimates that portion of the field contains proven and probable gas reserves of 119 bcf, and proved, probable and possible reserves of 163 bcf, of which approximately two-thirds are net to Corridor's interest (please refer to Corridor's website www.corridor.ns.ca for map of reserves study area). Corridor is a junior oil and gas exploration and production company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward Island Prince Edward Island, province (2001 pop. 135,294), 2,184 sq mi (5,657 sq km), E Canada, off N.B. and N.S. Geography One of the Maritime Provinces, Prince Edward Island lies in the Gulf of St. and Quebec, and offshore in the Gulf of St. Lawrence Noun 1. Gulf of St. Lawrence - an arm of the northwest Atlantic Ocean off the southeastern coast of Canada Gulf of Saint Lawrence Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . "Statements in this Press Release may constitute forward-looking statements.Such forward-looking statements include risks, uncertainties and other factors which may cause actual results, performance or achievements of Corridor to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.Corridor does not undertake to update any of such forward-looking statements." The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the information contained herein. Corridor Resources Inc. (TSX VENTURE:CDH) |
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