Corridor Updates Drilling Activities at McCully.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 drilling operations are proceeding at the McCully G-67 well located to the east of the McCully C-67 well and to the north of the McCully A-67 discovery well, as shown on the accompanying map. The G-67 well, currently drilling at a depth below 1700 meters, will be directionally drilled to a total depth of approximately 2500 meters to the base of the Hiram Brook formation. It is expected that testing of the G-67 well will be undertaken during the week of the 20th of June, following a re-test of the McCully C-67 well. An analysis of the initial test results from the C-67 well 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 (APA) indicated the presence of a significant "skin" factor during the initial flow period, negatively affecting flow performance at the time. The 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. has elected to participate in the G-67 well. Provided the well test results are positive, a third well (E-67) is planned to be directionally drilled from the same surface drilling pad to a bottom-hole location to the west of the G-67 well. The McCully field, located near Sussex in south central New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. , is estimated to contain in excess of one trillion cubic feet of gas-in-place in the Hiram Brook formation. Two wells have been on production for two years supplying natural gas at an average rate of two million cubic feet per day to a limited local market. The G-67 well is the tenth well to be drilled in the McCully field and is part of the build-up of reserves and production capacity to supply significant volumes of natural gas to markets in New Brunswick and New England. Corridor intends to connect the McCully field by a 30 mile pipeline to the Maritimes & Northeast pipeline system. The C-67, G-67 and planned E-67 wells are located within an area that was independently appraised by APA in December, 2004, and that represents less than 20% of the total field area. The APA reserves report assigned proven gas-in-place of 217 billion cubic feet (bcf) and proven and probable recoverable reserves of 119 bcf (79 bcf net to Corridor's interest) to the area assessed. To date, none of the existing McCully wells have been drilled to a depth sufficient to penetrate and evaluate the underlying Dawson Settlement formation expected to be present across the McCully field area. It has been estimated that this deeper horizon may contain volumes of natural gas significantly greater than the overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. Hiram Brook formation currently being evaluated. The McCully G-67 and E-67 wells are being directionally drilled to the Hiram Brook formation, consistent with our focus to establish production for the pipeline connection to Maritimes & Northeast. Corridor intends that a future vertically drilled well will test the deeper Dawson Settlement formation at an estimated additional (incremental) cost of $2.5 million. 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 . A map of McCully Drilling Program is available at the following address: http://www2.ccnmatthews.com/database/fax/2000/cdh0606.pdf "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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