CORRE Gives Operational Update on Projects in Kuwait and

CORRE Gives Operational Update on Projects in Kuwait and Saudi Arabia 
TORONTO, ONTARIO -- (Marketwire) -- 12/12/12 -- Canadian Oil Recovery
and Remediation Enterprises Ltd. (TSX VENTURE:CVR)(OTCQX:CRVYF)
("CORRE" or the "Company") is pleased to provide an update on the
progress of its current activities and new opportunities it is
pursuing within Kuwait and Saudi Arabia. CORRE, through its SAR-CORRE
MENA ("SCM") operating partnership, is currently executing on a
contract with BP Plc in Jordan for the cleaning and treatment of
drill cuttings and is finalizing the results of its pilot project
with EcoTecnos and the Kuwait Oil Company ("KOC") to demonstrate the
capabilities of EcoTecnos' geo-sensing satellite detection service. 
Over the next twelve months, CORRE will continue to leverage the
experience and relationships of its operational and strategic
partners to bid and secure further contracts and partnerships.
Details of new project opportunities and partnerships for 2013
include: 
Geo-Sensing Satellite Detection in Kuwait: CORRE currently has all
samples necessary to complete the requirements of the pilot project
and expects to present KOC with the results during the first quarter
of 2013. The successful execution of this pilot project through
EcoTecnos can eventually lead to the award of high value geo-sensing
satellite detection contracts from KOC to map out all environmentally
contaminated areas within Kuwait. 
SEED II in Kuwait: CORRE expects KOC to tender the second set of high
value soil remediation contracts during the first half of 2013 and it
is CORRE's intent, through its SCM operating partnership, to submit
bids for all available tenders. Bidders are evaluated in multiple
areas, including commercial terms (price), technology and operating
process, effectiveness of land rehabilitation, and health and safety
standards. With the experience and results from the first tendering
process, CORRE believes it is well positioned to enter competitive
bids to secure a high value contract in this next round of SEED
tenders. 
Partnership in Saudi Arabia: CORRE, through its SCM partnership, is
in the process of finalizing the details of its partnership with
Petroleum, Chemicals and Mining Company Limited ("PCMC"). Management
has traveled to Saudi Arabia twice in the previous six weeks to
finalize the terms of the partnership and expects to have a
definitive agreement in place by the start of the first quarter of
2013. The operational partnership with PCMC will allow CORRE to
penetrate the Saudi Arabian market through PCMC's local and
well-known brand as well as get increased access to a large number of
clients and companies. 
Oily Sludge in Saudi Arabia: CORRE, through SCM's partnership with
PCMC, is actively pursuing opportunities within the Saudi Arabian
market to become in-house oil waste management providers for
refineries and oil and gas companies to remediate tank bottom oily
sludge, contaminated industrial wastewater, oily sludge from slop oil
systems and legacy waste. Management believes these opportunities
would be structured as long-term contracts with growth potential in
both size and scope as local refineries increase the environmental
standard at which they operate to prevent ground water contamination,
costal water contamination and other hazards to the general
population. Management intends on leveraging its relationship with
PCMC to bid and secure several contracts during 2013. 
"We are extremely excited with the progress that has taken place in
2012, including the commencement of our first operating contract in
Jordan with respect to the treatment of gas drill cuttings and the
pilot contract through Ecotecnos with Kuwait Oil Company to test its
satellite detection service. Our investment into our operating
partnerships are now beginning to pay dividends, demonstrated by our
ability to effectively work with our operational and strategic
partners to market all of our services and position the Company to
obtain multiple high value contracts in 2013", commented John
Lorenzo, CORRE's CEO and Chairman. "I believe that successfully
executing on our first contract with operating partner SAR AS has
been transformational and has placed CORRE in a position to build on
its 2012 operating history throughout 2013 with the short-term goal
of achieving corporate profitability." 
About CORRE 
CORRE is a Canadian-based company which trades on the TSX Venture
Exchange under the symbol CVR and on the OTCQX(R), the highest tier
of the U.S. OTC market, under the symbol "CRVYF". CORRE provides full
cycle oil waste management solutions to the petroleum industry.
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). 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 advanced environmental solutions
through strategic operating partnerships with some of the most
distinguished companies throughout the world. 
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. 
Contacts:
CORRE LTD.
Alex Gress
CFO, Senior VP, Director
416-368-4027
agress@corre.com 
CORRE LTD.
David Freeman
Corporate Development & Shareholder Communications
416-368-4027
dfreeman@corre.com
 
 
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