Canadian Oil Recovery & Remediation Enterprises Ltd.
TSX VENTURE : CVR
OTCQX : CRVYF

Canadian Oil Recovery & Remediation Enterprises Ltd.

January 17, 2011 16:43 ET

Upstream Article Describes Upcoming Kuwait Soil Remediation Contracts and Highlights CORRE

TORONTO, ONTARIO--(Marketwire - Jan. 17, 2011) - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)(OTCQX:CRVYF) ("CORRE" or the "Company") reports that Upstream, a leading international oil & gas publication, published in its January 14th weekly edition that the Kuwait Oil Company ("KOC") will issue its first set of tenders for about $200 million of soil remediation work later this month or in early February. These tenders will be followed later this year by even bigger soil remediation and oil recovery contracts for the clean-up of the Kuwait Oil Lakes left by Saddam Hussein's army in 1991. According to industry sources noted in the article, these contracts "will involve the biggest clean-up operation in the world to put right the damage caused when retreating Iraqi troops torched Kuwait's oilfields." The article notes that the massive clean-up of the Kuwait Oil Lakes would cost about $3.5 billion, funded out of the United Nations war reparation funds, and entails decades of work.

The article further highlights that CORRE, through its SAR-CORRE MENA ("SCM") operating partnership, has taken a head start by building a pilot plant in Kuwait. The pilot plant, using CORRE's proprietary ARES I soil washing and oil recovery technology, has a capacity of 15 tonnes per hour, expandable to 40 tonnes per hour. Through SAR AS, SCM is a pre-qualified and approved contractor to KOC for contracts relating to soil remediation, waste management and drill cuttings.

The full text of the article is available to subscribers of Upstream and can be found at: http://www.upstreamonline.com/live/article241610.ece

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 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 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.

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