Canadian Oil Recovery Ltd (fka CRVYF)

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CORRE Provides Update on Kuwait Operations


Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE: CVR)(OTCQX: CRVYF) ("CORRE" or the "Company") is pleased to provide an update on the Company's current business developments in Kuwait. As previously reported by CORRE on April 11th, the Kuwait Oil Company ("KOC") issued three tenders with a total expected value of US $210 million to perform clean-up services, which include remediation of oil-contaminated soil and oil recovery, relating to environmental damage in oil fields located in the Southeast of Kuwait. Through the Company's SAR-CORRE MENA Ltd. ("SCM") operating partnership with SAR AS, a leading Norwegian-based oil waste management company, the Company was part of a select group of invited bidders. Since the launch of these tenders, the Company has been actively preparing its bids through SCM, including recently being part of a limited group participating at the on-site pre-tender meetings and site evaluations in Kuwait during the week of May 2nd. To maximize these tender opportunities for CORRE and leverage SCM's preparation for these extensive tenders, SCM is not only preparing to be a direct bidder, but is currently evaluating several additional subcontracting opportunities as part of pre-arranged bidding consortiums. The closing date of the three tenders is currently June 14th, 2011.

http://ih.advfn.com/p.php?pid=nmona&article=47677125&symbol=CRVYF

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