Corridor Awarded Exploration Block Offshore Nova Scotia
HALIFAX, May 4 /CNW/ - Corridor Resources Inc. (CDH -ASE) announced today
that it has been named as the successful bidder for an offshore oil and gas
exploration licence off the west coast of Cape Breton island in the Gulf of
St. Lawrence. The award was made in response to an invitation for competitive
bids by the Canada Nova Scotia Offshore Petroleum Board (CNSOPB) issued last
December. The licence area comprises approximately 615,000 acres, and is
located adjacent to the East Point ''significant natural gas discovery'' made
by Hudson Bay Oil and Gas (now BP-Amoco) in the Prince Edward Island offshore
sector of the Gulf. The discovery well tested natural gas at a rate of 5.3
million cubic feet per day in 1978, and development awaits further discoveries
in the area.
Local fishermen have recently expressed concerns regarding possible
impacts that offshore petroleum exploration may have on their fishing
operations in this shallow water area. Corridor is committed to carrying out
its exploration and possible subsequent development activities in a safe and
environmentally responsible manner, and in full consultation with
representatives of fishing interests in the area. Corridor plans a first
meeting with the fishing community to discuss their concerns as soon as
arrangements can be made.
Corridor is a junior oil and gas exploration company, headquartered in
Halifax, Nova Scotia, and holding more than 5 million acres of petroleum
exploration licences in Quebec and Atlantic Canada.
The Alberta Stock Exchange has neither approved or disapproved the
information contained herein.
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For further information: Corridor Resources Inc., No.301, 5475 Spring
Garden Road, Halifax, Nova Scotia, B3J 3T2; Contact: Norman Miller, President,
Phone: (902) 429-4511, Fax: (902) 422-6715; Email: info@corridor.ns.ca;
Web: www.corridor.ns.ca
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