CDH & Light Oil Exploration

Corridor Update on Operations

...Anticosti Exploration Program

Corridor also announced that this week it has completed the mobilization of a coiled tubing drilling rig and associated equipment to Port Menier on Anticosti Island in preparation for drilling four onshore oil exploration wells on the Island this summer. It is expected that the drilling operations will commence at the first well (Jupiter) around the beginning of July. The primary objective of the program is to evaluate the potential for light oil production from the carbonates of the Trenton/Black River formation. Corridor is partnered with Petrolia Inc. of Quebec for all four wells. As part of the planned drilling program, Corridor and Petrolia plan to cut a conventional core in the oil saturated Macasty shale (Utica equivalent) in one of the wells to evaluate the shale oil potential of this formation. The Macasty shale blankets the entire island and is estimated by Corridor to contain very large volumes of oil-in-place within the Corridor/Petrolia joint lands (approximately 1.6 million acres)...