Toronto, Ontario, January 4, 2011- Canadian Oil Recovery and Remediation Enterprises Ltd.
(TSX-V: CVR, OTCQX: CRVYF) (“CORRE” or the “Company”) is very pleased to announce that it
has achieved another operational milestone. CORRE, through its SAR-CORRE MENA Ltd. (“SCM”)
operating partnership, is now officially a pre-qualified and approved service provider and general
contractor to the Kuwait Oil Company (“KOC”) for the treatment of drill cuttings. This additional pre-
qualification is significant as SCM is now one of a few global operating companies that are pre-approved
service providers and general contractors to KOC in three distinct services- soil remediation (which
includes oil recovery), waste management and now treatment of drill cuttings.
The achievement of pre-qualification status in these distinct service areas provides an affirmation of the
strength and operating depth of the SCM partnership, as well as a validation of the underlying
technologies and operating facilities that SCM will deploy in these areas. In short, being pre-qualified
means that whenever KOC decides to issue a tender requiring the pre-qualified services, it will invite
SCM to bid for the tendered project. Otherwise, companies that are not pre-qualified will not be invited or
allowed to bid for a tendered project which concerns these services.
The market for CORRE to provide oil waste management services, including oil contaminated soil
remediation, sludge and drill cuttings treatment, and oil recovery is lucrative and growing, particularly in
CORRE’s initial target markets of Kuwait and Saudi Arabia. As CORRE enters 2011 with developed
technologies, optimized processing facilities, and pre-qualification status in hand, it is well-positioned to
bid anytime for upcoming KOC tenders. Equally, SCM is equally able to leverage its pre-qualification
status with KOC across these service lines to access oil waste management contracts with other national
oil companies.
During the first half of 2011 SCM is prepared to be actively bidding on several tenders, including KOC’s
soil remediation and oil recovery contracts expected to be released during the first quarter of 2011 and
contracts for the treatment of drill cuttings from KOC expected to be released during the second quarter
of 2011.
CORRE will keep its shareholders and the market updated accordingly on these and other operating
contract developments.
About CORRE
CORRE (www.corre.com) is a Canadian-based clean technology company that provides innovative and
complete oil waste management and environmental solutions to its customers. CORRE’s service 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; as well
as waste management. CORRE provides its services through its owned and operated Advanced Recovery
Equipment Systems (“ARES”) and through strategic operating partnerships. ARES is a platform of
services and operating equipment facilities based on proven technologies and innovative operating
processes. 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).
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes
forward-looking statements. Forward-looking statements are 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 projected in the forward-looking statements.
Except as required by applicable securities requirements, the Company undertakes no obligation to update forward-
looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned
not to place undue reliance on forward-looking statements.
Neither 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 the release.
For further information contact:
CORRE
Alex Gress, CFO, Senior V-P & Director
Tel: (416) 368-4027
Email: agress@corre.com
Lindsay Cross
Tel: (416) 368-4027
Email: lcross@corre.com