BRIEF-Corridor Resources on Brunswick govt's decision to continue hydraulic fracturing moratorium

Thu Jun 16, 2016 6:12pm EDT
 
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June 16 (Reuters) - Corridor Resources Inc

* Corridor announces impact on reserves due to the new Brunswick government's decision to continue hydraulic fracturing moratorium

* Corridor announces impact on reserves due to new brunswick government's decision to continue hydraulic fracturing moratorium

* Engaged glj to assess extent of impact of nb decision on corridor's reserves as set forth in original reserves report

* Updated reserves report demonstrates that nb decision has resulted in a material reduction in corridor's undeveloped reserves

* Expects reduction in net present value of its proved plus probable reserves calculated at a discount factor of 10% will lead to an impairment loss Source text for Eikon: Further company coverage: