Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)
("CORRE" or the "Company") is pleased to announce that its operating partner
EcoTecnos has recently concluded a series of week-long meetings with the
operating partnership's customer in Kuwait concerning its satellite detection
pilot project. After verification of the findings of the satellite detection
report by the independent consultant of the customer, the customer communicated
to EcoTecnos that they were very impressed with the accuracy of the report.


In the first and second phases of the pilot project, EcoTecnos was required to
identify and quantify different oily sludge wastes and the underground
penetration of oil contamination at the bottom of the customer's sludge pits.
EcoTecnos was also asked to provide 2D images of the sludge pits being studied.
EcoTecnos was given samples by the customer of the different types oily sludge
and oil-contaminated soil from different levels of the sludge pits for the
purpose of their identification and quantification.


As stated above, the operating partnership's customer in Kuwait verified that 17
out of the 20 unique samples of sludge given to us were properly detected and
quantified. As for the three remaining samples, EcoTecnos was not able to detect
or quantify them due to uncontrollable interference in their georeference
mapping. EcoTecnos was asked by the customer to use its satellite detection to
detect and quantify the three affected samples again in order to complete the
study. The operating partnership anticipates moving to contract negotiations
thereafter.


EcoTecnos was then requested by the customer to provide mapping of underground
corroded pipelines, adding a new product and dimension to the pilot project.
However, we indicated to the customer that any mapping of corroded pipelines
will require a new pilot project. The customer is presently studying the
partnership's request.


CORRE will provide an update on the final results once the pilot project has
been completed and the anticipated contract negotiations have commenced.


The GeoSensing(TM) satellite detection technology is a complete subsurface
mapping solution which utilizes a combination of ground-penetrating radar and a
unique substance fingerprint database. 2D maps are then produced which indicate
the location of hydrocarbon contamination and other substances beneath the
surface of the earth up to a depth of 150 meters. EcoTecnos has used
GeoSensing(TM) for major clients such as ExxonMobil, ENAP (Chilean National Oil
Company), and Empresas Copec.


About CORRE

CORRE is a Canadian-based oil services company which trades on the TSX Venture
Exchange under the symbol CVR. CORRE provides full cycle oil waste management
solutions to the petroleum industry. CORRE's customers are primarily in the
upstream petroleum sector (oil production and drilling companies) and downstream
petroleum sector (oil refinery, transportation and distribution companies).
CORRE's operating lines include remediating oil-contaminated soil; treating
sludge, oil based muds and drilling waste, oil recovery; automated oil storage
tank cleaning, oil and gas engineering, and project management. CORRE provides
its advanced environmental solutions through strategic operating partnerships
with some of the most distinguished companies throughout the world.


Forward-Looking Statements

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, the potential for obtaining successful
contracts via the tendering processes discussed herein and negotiations
regarding potential projects. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We cannot guarantee
future results, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: commodity price volatility; general economic conditions in
Canada, the United States, the MENA region and globally; industry conditions,
governmental regulation, including environmental regulation; unanticipated
operating events or performance; failure to obtain industry partner and other
third party consents and approvals, if and when required; the availability of
capital on acceptable terms; the need to obtain required approvals from
regulatory authorities; stock market volatility; competition for, among other
things, capital, skilled personnel and supplies; changes in laws; and the other
risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are
cautioned that this list of risk factors should not be construed as exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Oil Recovery and Remediation Enterprises Ltd.
John Lorenzo
Chairman & CEO
(416) 368-4027
jlorenzo@corre.com


Canadian Oil Recovery and Remediation Enterprises Ltd.
David Freeman
Corporate Development
(416) 368-4027
dfreeman@corre.com


Canadian Oil Recovery and Remediation Enterprises Ltd.
Michael Lorenzo
Shareholder Communications
(416) 368-4027
mlorenzo@corre.com

Canadian Oil Recovery an... (TSXV:CVR)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Canadian Oil Recovery an....
Canadian Oil Recovery an... (TSXV:CVR)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Canadian Oil Recovery an....