In accordance with the Atlantic Accord Acts, the Canada-Newfoundland and Labrador Offshore Petroleum Board wishes to advise of its proposed issuance of an exploration licence to Corridor Resources Inc. in exchange for a surrender of existing Exploration Licence No. 1105 in the Canada-Newfoundland and Labrador Offshore Area. The notice of intent will also be published in the Canada Gazette Part I.

The proposed exploration licence will be issued for the same lands as Exploration Licence No. 1105. The issuance of this proposed interest will be a fundamental decision subject to approval by the respective Atlantic Accord Act Ministers.

If approved by ministers, the issuance of this proposed licence will provide the time required for a robust review process associated with a proposed drilling operations authorization and validation of the geological prospect commonly referred to as Old Harry by restoring the term of the licence to four years (including a three year Period I). The review process includes consultations and completion of the environmental assessment, details of which will follow at a later date.

No drilling can occur on the new exploration licence lands without approval from the Canada-Newfoundland and Labrador Offshore Petroleum Board.

The full text of the proposed exploration licence is available upon request to the Registrar, Canada-Newfoundland and Labrador Offshore Petroleum Board, TD Place, 5th Floor, 140 Water Street, St. John’s, Newfoundland and Labrador A1C 6H6, 709-778-1400 or by emailing information@cnlopb.ca

• Canada Gazette

Media Contact:
Sean Kelly APR, FCPRS
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