Corridor Resources has provided a summary of the results of an independent study of the quantity of shale gas resource contained within the Frederick Brook formation in the Sussex/Elgin sub-basins of southern New Brunswick.
The study, effective June 1, 2009 conducted by GLJ Petroleum Consultants of Calgary, Alberta, states that the best estimate of discovered resources in the study area is 67.3 TCF gross and 59.1 TCF Corridor working interest. The study was conducted in accordance with the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.
The results of this study are based on all available seismic and well information within the study area provided by Corridor to GLJ . The GLJ study addressed only in-place gas volumes since insufficient information is available at this time to estimate the technical or economically recoverable amount of shale gas within the study area.
There is no certainty that it will be commercially viable to produce any portion of these discovered resources.
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