Toronto, Ontario, July 18, 2011- Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX-V:
CVR, OTCQX: CRVYF) (“CORRE” or the “Company”) is providing an update on the Company’s
bidding progress for three soil remediation and oil recovery projects with a total expected value of $210
million tendered by the Kuwait Oil Company (“KOC”) during early April 2011. CORRE is bidding
through its SAR-CORRE MENA (“SCM”) operating partnership established with SAR AS, a leading
Norwegian oil waste management operating company.
The Company is pleased to report that, per the requirements of the tender, it has completed its portion of
the financial arrangements with the National Bank of Kuwait to issue three bid bonds for each of the
tendered contracts for a total value of $4.5 million in equivalent Kuwaiti Dinar. SAR AS, on behalf of the
SCM operating partnership, will submit the bid bonds for the three completed tenders for soil remediation
and oil recovery projects in Lots A, B, and C in South East Kuwait. The final submission date was
postponed from June 28th until August 2nd.
The released tenders are precursor contracts to larger soil remediation and oil recovery contracts with
aggregate values estimated to be in excess of US$3 billion for the clean-up of the Kuwait Oil Lakes, left as
the result of the retreating Iraqi army in 1991. As previously announced, SCM, through SAR AS, is part of
a select group of companies that have recently been pre-qualified by the KOC as contractors approved to
bid on extensive soil remediation contracts, as well as other contracted services which include treatment of
drill cuttings and waste management, to be released by the KOC.
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 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
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