McCully Field J-66
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Corridor Resources reports that the McCully J-66 well has been drilled to a total measured depth of 2600 meters. The well encountered 46 meters of indicated net gas pay thickness in the Hiram Brook formation, including 15 meters in the "A" sand, 19 meters in the "B" sand and the remainder in the "C" and "D" sands. The Nabors #4 drilling rig is being relocated to drill the E-57 well from the K-57 surface drill pad following a 10-day rig maintenance operation. The E-57 well is designed to intersect the Hiram Brook Formation at a location approximately 600 meters southwest of the McCully K-57 well. The J-66 well is the 17th well drilled to date in the McCully field that has encountered natural gas bearing sands in the Hiram Brook Formation. The well has been logged and cased to total depth in preparation for frac stimulation operations planned to be conducted at the well later this summer. Corridor and Potash Corporation of Saskatchewan are participating jointly in the J-66 and E-57 wells.
Corridor has purchased from Columbia Natural Resources Canada Ltd., a subsidiary of Chesapeake Energy Corporation, its 50% working interest (59,073 net acres) in two leases located in the Elgin sub-basin and immediately to the east of the McCully structure. Corridor now holds a 100% working interest in the two leases and plans to conduct a 2-D seismic survey there this summer.