Brief: Corridor Resources Announces 2017/18 Guidance

Headwater Exploration

13/02/2018 13:00

Feb 13 (Reuters) - Corridor Resources Inc  CDH.TO : 
    * CORRIDOR ANNOUNCES HIGHER 2017/18 GUIDANCE AND REPORTS 
YEAR END 
RESERVES AND CONTINGENT RESOURCES 
    * CORRIDOR RESOURCES INC - UPDATE ITS GUIDANCE TO REFLECT 
SIGNIFICANTLY HIGHER NATURAL GAS PRICES FOR PERIOD FROM APRIL 1, 
2017 TO MARCH 31, 2018 
    * CORRIDOR RESOURCES - 28% ESTIMATED INCREASE IN AVERAGE 
FORECASTED AGT PRICE FOR PERIOD FROM DEC 1, 2017 TO MARCH 31, 
2018 TO $US9.50/MMBTU 
    * CORRIDOR RESOURCES INC SEES AVERAGE DAILY NATURAL GAS 
PRODUCTION 
FOR DEC 1, 2017 TO MARCH 31, 2018 OF 9.0 MMSCFPD 
    * CORRIDOR RESOURCES INC SEES AVERAGE DAILY NATURAL GAS 
PRODUCTION 
FOR APRIL 1, 2017 TO MARCH 31, 2018 OF 3.0 MMSCFPD 
    * CORRIDOR RESOURCES INC SEES CAPITAL EXPENDITURES FOR APRIL 
1, 
2017 TO MARCH 31, 2018 OF $3.6 MILLION 
    * CORRIDOR - SEES 55% ESTIMATED INCREASE IN SALES PRICE FOR 
UNHEDGED PRODUCTION VOLUMES FOR PERIOD DEC 1, 2017 TO MARCH 31, 
2018 TO $14.55/MSCF 
    * CORRIDOR RESOURCES - HAS ENTERED INTO A FORWARD SALE DEAL 
FOR 
2500 MMBTU/D FOR PERIOD FROM DEC 1, 2018 TO MARCH 31, 2019 AT 
$US7.40/MMBTU 
 
Source text for Eikon:  ID:nCCN8F6qWa  
Further company coverage:  CDH.TO  
 
 ((bangalore.newsroom@thomsonreuters.com;))