Corridor Resources Inc. (Toronto: CDH.TO) has provided an update on its joint venture operations on Anticosti Island, Québec. Corridor has a 21.67% in the Anticosti Island joint venture with the Government of Québec (through its affiliate, Ressources Québec), Pétrolia Inc. and Saint-Aubin E&P Québec Inc. The first phase of the joint venture's exploration program on Anticosti Island consists of drilling 15-18 stratigraphic corehole wells followed by three wells with multiple fracture stimulations. The program, operated by Pétrolia Inc., is designed to further explore the Macasty Formation, which is the lateral equivalent of the Utica formation in Eastern Ohio.

To date, four stratigraphic corehole wells have been drilled into the Macasty Formation. The company expects that one to two additional wells will be completed in the next few weeks. The company is encouraged as the core obtained from these wells has had positive indications of the presence of hydrocarbons. All the cores have been sent for laboratory analysis which will be conducted in the coming months. The thickness of the Macasty formation has been observed as follows:

Well LocationMacasty Formation Thickness
Chicotte67.5 meters
Lac-Martin30 meters
Jupiter-South60 meters (1)
Bell13 metres
Note:
1) This well is currently drilling and thickness of 60 meters is observed to date.

The first phase of the exploration program was initially planned to begin in May 2014, however, due to the adoption of a new regulatory framework the program's start date was delayed to July 2014. Once the current operations are completed, the program will be temporarily suspended during the winter season. Most of the equipment will stay on Anticosti Island so that the program can resume in the spring of 2015. As well, 15 site locations have already been prepared, which will expedite the resumption of operations in the spring. The company expects that the remainder of the stratigraphic corehole program will be completed during the summer of 2015. The results of all the cores will help assess the rock quality and determine the optimal location for the three test wells. The three test wells will be drilled and fracture stimulated as soon as possible thereafter.

The company is based in Halifax, Nova Scotia.