Friday, December 11, 2009

New Brunswick Shale - Apache Corp APA - Frederick Brooke Shale

Corridor Resources Inc (TSX:CDH) recently announced that they will enter into a farmout agreement with Apache Canada Ltd ( parent company Apache Corp. ). to tap test the Frederick Brooke Shale in southern New Brunswick, Canada.

December 7, 2009

Corridor Resources Inc. ("Corridor") announced today that it has entered into a farmout and option agreement ("Agreement") with Apache Canada Ltd. ("Apache") to appraise and potentially develop oil and natural gas resources in southern New Brunswick. Under the terms of the Agreement, Apache has committed to conduct an appraisal program consisting of any combination of seismic, drilling, fracturing, testing and completing or abandoning one or more horizontal or vertical oil, gas and/or shale gas wells. The program is to be conducted over the next 18 months at a cost of not less than $25 million and is intended to evaluate the commercial potential of natural gas development in the Frederick Brook shale formation and light oil development at the recent Caledonia oil discovery. Upon completion of this program, Apache will have earned a 50% working interest in the spacing units drilled.

Other Natural Gas Shale Fields in Canada: Horn River Shale - Montney Shale - Utica Shale

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