• Corridor Resources has submitted a project description to the Canada‐Newfoundland and Labrador Offshore Petroleum Board for the drilling of an exploration well within Exploration Licence 1105 on the Old Harry prospect located in the Laurentian Channel of the Gulf of St. Lawrence. The project description begins the official regulatory process for obtaining the necessary approvals to drill this offshore well between mid‐2012 and early 2014. The Old Harry geological structure is one of the largest undrilled geological structures in Eastern Canada at 30 kms long and 12 kms wide.  
  • Shoal Point Energy signed a letter of intent with Ptarmigan Energy to acquire an option to explore the Green Point shale on Ptarmigan’s Exploration Licence 1120, located off Newfoundland’s western shore. The two companies are in negotiations hoping to reach an agreement in early March, allowing Shoal to earn an 80% interest by drilling a Green Point test well on the property by December 31, 2012. Under the terms of an Area of Mutual Interest agreement with Canadian Imperial Venture (CIVC), CIVC will have the right to participate in exploration activities to earn up to 40% of Shoal’s interest in the subject lands.