Canoro Successfully Completes Amguri 6 Well Test

Canoro Resources has obtained and installed the necessary high pressure and auxiliary test equipment to safely perform the initial clean-up and production test of the Amguri 6 well. The 19 meter producing interval has now stabilized at a rate of 405 bbls/d of 56 degree API oil at a flowing pressure of 1,935 pounds per square inch with 2.6 mmcf/d of associated gas through a 3/8 inch choke. On a barrel of oil equivalent basis, this equates to approximately 835 boe/d.

Amguri 6 is located approximately 1.5 km south of the successful well test at Amguri 5. Combined, these two wells have tested over 1,500 boe/d.

The results of the Amguri field workover operations are positive and encouraging. Canoro has engaged Sproule International Limited to perform a reserve assessment of the Amguri field and it is anticipated that initial oil sales will commence shortly from early production facilities at each of the well sites. As well, the 3-D seismic program of the entire Amguri field is planned to commence in the near future.

Canoro is a Canadian-based international oil and gas company operating in the prolific Assam/Arakan basin of northeast India. The Company is re-entering and testing a number of wells with the objective of restoring production from the suspended Amguri oil and gas field. Canoro is the operator of Amguri and has a 60% working interest. Canoro is the operator with a 65% working interest in the 1,445 km2 AA-ON/7 exploration block, and has a 30% non-operated working interest in the 295 km2 AA-ONN-2003/02 exploration block. Common shares of Canoro trade on the TSX Venture Exchange under the symbol 'CNS'.


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