Brief: Corridor announces settlement with Quebec Government on Anticosti JV

Headwater Exploration

28/07/2017 13:42

July 28 (Reuters) - Corridor Resources Inc  CDH.TO  
    * Corridor announces settlement with Quebec Government re: 
Anticosti joint venture 
    * Corridor Resources Inc - Government of Quebec has agreed 
to pay $19.5 million to Corridor   
    * Corridor Resources - settlement agreement with Government 
of Québec that facilitates end to participation in oil and gas 
exploration on Anticosti Island 
    * Corridor Resources - Government of Québec has also agreed 
to reimburse Corridor for any further amounts expended prior to 
its departure from Anticosti Island 
    * Corridor Resources - Government of Québec also agreed to 
assume all abandonment and reclamation obligations of corridor 
in respect of three Anticosti Wells 
    * Corridor Resources - been advised that Government of 
Québec intends to prohibit future exploration work relating to 
hydrocarbons, underground reservoirs 
 
Source text for Eikon:  ID:nCCNNMnhDa  
Further company coverage:  CDH.TO  
 
 ((bangalore.newsroom@thomsonreuters.com;))