HALIFAX, NOVA SCOTIA–(Marketwired – Sept. 29, 2014) – Corridor Resources Inc. (“Corridor”) (TSX:CDH) announced today after a comprehensive search process undertaken by the executive search firm of Boyden Global Executive, that it has hired Mr. Steve Moran as its next President and CEO, effective immediately. In addition, Mr. Moran has been appointed to the Board of Directors of Corridor.
Mr. Moran has 30 years of oil and gas exploration and production experience in both the private and public sectors, with an emphasis on corporate planning and negotiations. Most recently, Mr. Moran was President and Director of Stellavista Capital Corp., a private oil and gas company. From 2006 to 2012, Mr. Moran was President, CEO and a Director of Bellamont Exploration Ltd., a TSXV listed junior oil and gas exploration company that he co-founded and which was acquired by Storm Resources Ltd. Mr. Moran holds a Bachelor of Business Administration degree from Acadia University.
Doug Foster, Corridor’s Chairman said, “We are very pleased to welcome Steve to Corridor. Steve brings an impressive and varied set of entrepreneurial skills from the upstream oil and gas sector. His experience should benefit Corridor greatly as we continue to explore and develop our resource plays.”
Mr. Moran commented, “I am very excited to join Corridor at this pivotal stage of its corporate life. Corridor is a truly unique Canadian junior exploration and production company with the scope and scale of its opportunity base. Each of Corridor’s three plays: the New Brunswick Frederick Brook shale; Anticosti’s Macasty shale (Utica stratigraphic equivalent); and the Old Harry offshore prospect in the Gulf of St. Lawrence, holds significant resource potential for Corridor’s shareholders. Having been raised in the Maritimes, I have an additional personal incentive in accelerating these Eastern Canadian plays to commercial development.”
Corridor is an Eastern Canadian junior resource company engaged in the exploration for and development and production of petroleum and natural gas onshore in New Brunswick and Québec and offshore in the Gulf of St. Lawrence. Corridor currently has natural gas production and reserves in the McCully Field near Sussex, New Brunswick and crude oil reserves in the Caledonia Field near Sussex, New Brunswick. In addition, Corridor has contingent resources and discovered resources in Elgin, New Brunswick and undiscovered resources on Anticosti Island, Québec where Corridor has ongoing exploration projects.