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Corridors Old Harry offshore prospect is one of the largest identified geological structures (with promising indicators) in Eastern Canada yet to be explored.
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Existing cash flow has allowed Corridor to fund on-going development opportunities with no debt drawn through period of weak gas prices Strong team focused on progressing high impact plays and maintaining production at McCully Field
For further information, contact: Phillip R. Knoll, (902) 429-4511 pknoll@corridor.ca Tom Martel, (902) 429-4511 Ext 2225 tmartel@corridor.ca Website: www.corridor.ca
Focus on gaining partners for our 3 high-impact prospects Ability to source additional opportunities in the region
2011 Summary
Completed the Anticosti Resource study by Sproule. Best estimate (Sproule) of undiscovered Total Petroleum Initially in Place of 34 Bboe oil equivalent (20 Bboe
net Corridor)
Cash flowed $9MM in 2011; reduced G&A costs and capital program in 2011 in recognition of low gas pricing period Filed Old Harry Project Description for Exploration Well in early 2011
- Due to multiple and lengthy regulatory processes, Corridor received extension of drilling window to Jan 2016 - 1.5 million net acres
Retention of licences in New Brunswick, Anticosti and Old Harry Focused on partnering our major prospects; engaged Macquarie to assist with Frederick Brook Shale and Old Harry Prospect
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- Hiram Brook gas McCully Field 103 BCF 2P gross reserves - ~25 year reserve life index
McCully Plant
Advancing F.B. Shale potential with on-going Elgin Program; completed O-59 drill Q4 2011 Recent N.B. Government announcement on: - Oil/Gas Environmental
Protection Plan - New Royalty Regime Discussion Paper
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indicates some intervals have exceptional permeability and porosity for a shale)
Frederick Brook shales 900 1,100 m of gross thickness in a strike slip basin Deep basin has thickened sediments strong possibility of being highly overpressured Will DeMille O-59 well has eight intervals that are potential frac candidates (core analysis Plan to re-test B-41 (Apache well) in June
O-59 Permeability
Top graph shows original data and includes analysis from two different labs of the same Chaloupe core
Lower graph shows factor (15) that normalizes the two data sets plus O-59
6/13/2012 8
1100
1-3 3-8
Up to 400**
1.2 ++ 3,000 - 6,000 0.53 - 0.6
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327
717
1,500
700
Brittle
Brittle
Brittle
Brittle
Brittle
Brittle
* Frederick Brook data determined by Corridor Resources and third party vendors ** Weatherford analyses (understates permeabilities relative to other laboratories) *** Estimates of other shale gas plays have not been prepared in accordance with National Instrument 51-101; are based on publically available information and refer to original gas in place (which is not a National Instrument 51-101 or COGE term). The term discovered resources is equivalent to discovered original gas-in-place(OGIP)
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The Utica has become an exciting oil and gas play in the northeastern US (e.g. present
A Schlumberger comparison between the Anticosti Chaloupe #1 well and the Ohio OSGS CO2 #1 Utica well indicates that porosities, permeabilities and hydrocarbon saturations are very similar
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40 meters
6/13/2012
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Porosity 4-6%
TOC 2-5%
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40 meters
Macasty (Anticosti)
Porosity 3-5%
TOC 2-4%
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B A
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Bradelle Fm
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Pi (psi) kh (md-m) Net pay (m) Effective permeability (md) Fluid vicosity (cp) Productivity Index (bpd/psi) Rate @ 30% drawdown (bopd) Rate @ 75% drawdown (bopd)
Corridor Resources Inc.
Old Harry 55 API Oil 789.5 30 26.3 0.5 13.37 9,402 20,163
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Brion Island Fm
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