Corridor Releases Independent McCully Reserves Report.HALIFAX, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CDH Congenital diaphragmatic hernia (CDH) 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 the independent reserves report for its year end, August 31, 2005, has now been completed and is available for review in Corridor's offices and on Corridor's website www.corridor.ns.ca. The report has been prepared by 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 Inc. (APA) and Petrel petrel (pĕ`trəl), common name given various oceanic birds belonging, like the albatross and the shearwater, to the order known commonly as tube-nosed swimmers. Robertson Consulting Ltd. in accordance with the requirements of National Instrument 51-101, and has an effective date of September 1, 2005. The updated reserves report assigns current Proved Reserves of 17.2 billion standard cubic feet (Bscf) of natural gas for the field, of which Corridor's working interest share before royalty is 8.6 Bscf. Proved Reserves are limited to those for which there is an existing sales contract, in this case for local delivery to the potash mill owned and operated by Potash Corporation of Saskatchewan The Potash Corporation of Saskatchewan, today generally referred to as PotashCorp, is a Canadian corporation based in Saskatoon, Saskatchewan that is the world's largest producer of potash. The company was created by the government of Saskatchewan in 1975. Inc. (PCS). The report estimates Proved Plus Probable Reserves of 119.3 Bscf (79.8 Bscf net to Corridor's interest) within the assessed area, stating that.... "The forecast gas demand relating to the PCS contract is a small fraction of the estimated gas-in-place for the McCully Field.... The available data indicate that the gas export scheme will be economically attractive and Corridor has a well-defined plan of action in pursuit of this development opportunity. APA therefore recognizes Probable Gas Reserves in relation to the gas export option." The updated reserves report covers an area of less than 20% of the McCully structure, as limited by current 3-D seismic coverage and to the area where most of the McCully wells have been drilled to date (please refer to the accompanying map showing the assessed area in yellow within the overall McCully structure presented in red). Corridor expects to expand the area of assessment once additional 3-D seismic has been obtained and additional wells have been drilled in the field. The report takes account of activities up to Corridor's fiscal year end (August 31, 2005) and prior to certain subsequent drilling and frac activities later in the year. 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." A map is available on CCNMatthews' website at the following address: http://www.ccnmatthews.com/docs/gip.jpg 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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