PCS Participates With Corridor In 2006 McCully Drilling
Not For Release, Publication Or Distribution In Or Into The United States
Halifax, Nova Scotia, May 8, 2006, (TSX - CDH): - Corridor Resources Inc. (CDH:TSX) (the "Corporation") is pleased to announced today that Potash Corporation of Saskatchewan Inc. (PCS) is participating with Corridor in all Hiram Brook development wells drilled in 2006 in the McCully Field, located near Sussex in southern New Brunswick.
The wells include the McCully J-67 and K-66 wells already drilled as well as the currently drilling M-66 well and all currently budgeted future Hiram Brook production wells to be drilled on joint lands during the remainder of 2006. The joint activities also include fraccing and testing of up to eight drilled and cased joint wells, with these completion activities planned for October and November of this 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 and Quebec, and offshore in the Gulf of St. Lawrence.
This press release contains certain forward looking statements relating to, but not limited to, Corridor's operations, anticipated financial performance, business prospects and strategies, including expectations relating to production levels; capital expenditure programs; the quantity of natural gas reserves; projections of market prices; projections of costs; supply and demand for natural gas; expectations regarding the ability to raise capital and to continually add to reserves through exploration and development; and treatment under governmental regulatory regimes. These statements are based on current expectations that involve numerous assumptions regarding factors and risks that could cause actual results to vary materially, including, without limitation to, the following factors: risks associated with oil and gas exploration, financial risks, substantial capital requirements, bank financing, government regulation, environmental, prices, markets and marketing, dependence on key personnel, dependence on Potash Corporation of Saskatchewan, Inc., availability of drilling equipment and access, risks may not be insurable, management of growth, expiration of licenses and leases, reserves estimates, seasonality, competition, conflicts of interest, Kyoto Protocol, issuance of debt, title to properties and hedging. There is no representation by Corridor that actual results achieved will be the same in whole or in part as those set out in the forward looking information. Furthermore, the forward looking statements contained in this press release are made as of the date hereof, and Corridor undertakes no obligation, except as required by applicable securities legislation, to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise.
