NID Nir Diagnostics Inc. (Tier2)

Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)
("CORRE" or the "Company"), a provider of leading edge oil recovery and
remediation technologies and services, is pleased to announce that it will be
seeking the written consent of the holders of a majority of its outstanding
shares in respect of the creation of a new "Control Person" upon completion of
its previously announced two-phase financing for aggregate gross proceeds of up
to $10 million (the "Financing") (see CORRE's press releases dated June 16, 2009
and July 16, 2009 for further details concerning the Financing). In accordance
with the policies of the TSX Venture Exchange (the "Exchange"), as the Financing
will, upon completion, result in the creation of a new Control Person (by
definition, among other things, being a holder of more than 20% of the issued
and outstanding voting shares of an issuer), approval of shareholders holding in
aggregate more than 50% of the issued and outstanding common shares (not
including any shares held by the Control Person) is required. CORRE has received
verbal confirmation of support from a sufficient number of shareholders to
obtain this requisite level of approval and expects to obtain approval in
writing from such parties via written confirmations of consent.


As noted in CORRE's June 16, 2009 press release, the principal subscriber for
$8.5 million of the Financing is Al-Najah Advanced Technology Co. Ltd. ("NAT").
The convertible debenture to be issued to NAT upon closing of Phase 1 of the
Financing in the aggregate principal amount of $4,250,000 (the "NAT Convertible
Debenture") (maturing on the date that is twelve months from the date of
issuance (subject to extension to a maximum of eighteen months from the date of
issuance)) and the share purchase warrant to be issued concurrently (the "NAT
Share Warrant") are each exercisable into 21,250,000 common shares of CORRE
(each, a "Common Share") at a price of $0.20, for an aggregate of 42,500,000
Common Shares, assuming full conversion and exercise. As there are currently
48,234,263 Common Shares issued and outstanding, assuming that the convertible
debenture and share warrant issued to Mr. Hassan Dahlawi (for details, please
refer to the Company's press releases dated June 16, 2009 and July 16, 2009) are
also fully exercised (into an aggregate of 7,500,000 Common Shares), the fully
diluted issued and outstanding number of Common Shares upon completion of the
Financing (not accounting for any exercises of currently outstanding stock
options) would be 99,499,263 (such figure accounts for 1,265,000 Common Shares
to be issued upon closing in partial payment of finder's fees in connection with
the Financing). As NAT currently does not hold any Common Shares, NAT would
therefore be the holder of 42.7% of the issued and outstanding Common Shares on
a fully diluted basis and, accordingly, will be considered a "Control Person."


As a condition to closing of Phase I of the NAT portion of the Financing, in
addition to the satisfactory completion of due diligence by NAT, certain
shareholders of CORRE shall have entered in a voting trust and shareholders'
agreement (the "Voting Trust and Shareholders' Agreement") pursuant to which
they shall, among other things, have agreed to cast all votes attaching to their
Common Shares in favour of nominees for election to the board presented by NAT,
commencing on the date that NAT becomes a holder of Common Shares. Pursuant to
the Voting Trust and Shareholders' Agreement, NAT shall be entitled to present a
number of nominees for election as directors as is commensurate with its fully
diluted pro rata equity interest in the Company. The shareholders that will be
required to execute the Voting Trust and Shareholders' Agreement (the "Founding
Shareholders") and their respective shareholdings of CORRE are as follows:
Hassan Dahlawi (5,626,599); John Lorenzo (1,068,529); The Coopi Trust
(1,714,286); Fairwater Holdings Inc.; (952,381); Prime City One Capital Corp.
(952,381); Barbara Todisco (2,142,855); Joseph Carbonaro (571,429); David
Carbonaro (19,048); Rugaya Al-Muina (428,571); Deborah Colby (382,452);
Abdul-Aziz Hassan Dahlawi (428,571); Deena Dahlawi (428,571); Mohammad Hassan
Dahlawi (428,571); Rayan Hassan Dahlawi (428,571); Laura Lee Lawrence (191,476);
Paulette Lawrence (191,476); Michael Lorenzo (374,976); and Omar Shawwa in Trust
(28,571).


In addition to the foregoing, certain principal shareholders of CORRE, namely
Hassan Dahlawi, John Lorenzo, The Coopi Trust and Fairwater Holdings Inc.
(collectively, the "Principal Shareholders") will provide NAT with certain
additional rights and covenants under the Voting Trust and Shareholders'
Agreement. Specifically, each of the Principal Shareholders will grant to NAT
the following additional rights vis-a-vis their respective Common Shares: (a) a
Right of First Refusal and First Offer; and (b) Tag-Along Rights. In addition,
all of the Founding Shareholders will also grant Drag-Along Rights to NAT. The
foregoing rights shall not apply to sales by Principal Shareholders of up to
five percent (5%) of their respective Common Shares in any given calendar year
(such sales are hereinafter referred to as "Exempt Sales"). Exempt Sales may be
completed by Principal Shareholders either via the facilities of the TSX Venture
Exchange or via private sale, all in accordance with applicable securities laws
and regulatory policies.


The Right of First Refusal (in respect of any bona fide offer from a third
party) and a Right of First Offer (to present an offer to acquire the Common
Shares of the Principal Shareholder in the event that such shareholder indicates
an intention to sell) relate to situations where a Principal Shareholder seeks
to sell its Common Shares. In the case of an offer received by a Principal
Shareholder from a third party (other than Exempt Sales), NAT and the other
Principal Shareholders shall be entitled to acquire the Common Shares of the
shareholder desiring to sell at the same price and subject to the same terms as
offered by the third party. If NAT declines to exercise this right, the
Principal Shareholder that received the third party offer will be entitled to
sell the Common Shares in question to any of the other Principal Shareholders in
accordance with the terms of the Voting Trust and Shareholders' Agreement on
terms not more favourable to the selling shareholder than those offered by the
third party. In the case where a Principal Shareholder desires to sell its
Common Shares (over and above its Exempt Sales), such Principal Shareholder will
be obliged to notify NAT and request that NAT makes an offer to acquire such
Common Shares. If NAT makes an offer for such Common Shares that is acceptable
to the Principal Shareholder, NAT and the remaining Principal Shareholders will
be entitled to acquire such Common Shares on a pro rata basis, having regard to
their respective equity positions. If NAT elects not to present an offer to
acquire such Common Shares or if the price offered is not accepted by the
Principal Shareholder, the Principal Shareholder in question will not be
permitted to transfer its Common Shares without NAT's consent, unless such sale
is to one or more of the other Principal Shareholders.


The Tag-Along to be provided by the Principal Shareholders to NAT and the and
Drag-Along Rights to be provided by all of the Founding Shareholders to NAT
refer to situations where a third party offers to acquire Common Shares held by
either the Principal Shareholders or NAT. The Tag-Along Right will apply where a
Principal Shareholder receives an offer from a third party to acquire some or
all of its Common Shares (in excess of Exempt Sales). If NAT does not otherwise
exercise its Right of First Refusal and First Offer described above, then any
sale of Common Shares by the Principal Shareholder to such third party will be
conditional upon the third party making an offer to acquire a proportionate
number of Common Shares from NAT for the same consideration and subject to the
same terms and conditions as offered to the Principal Shareholder. Conversely,
the Drag-Along Right will apply in instances where NAT holds greater than thirty
percent (30%) of the issued and outstanding Common Shares and receives a third
party offer to acquire all of its Common Shares, in which case the Founding
Shareholders will, following approval by a majority of CORRE's directors, be
obliged to sell all of their Common Shares to such third party for the same
consideration and subject to the same terms and conditions as offered to NAT.
Alternatively, rather than selling their Common Shares pursuant to such third
party offer, the Founding Shareholders will also have the alternative to acquire
all of the Common Shares of NAT for the same consideration and subject to the
same terms and conditions as the third party offer to NAT.


It should be noted that all of the above described covenants and rights are
between NAT and the aforementioned shareholders only and are not in any way
commitments or rights actionable against CORRE. In addition to the foregoing
terms and conditions that will apply as between NAT and the Principal
Shareholders, CORRE will provide NAT with certain further rights, which will be
documented in the Voting Trust and Shareholders' Agreement. Specifically, CORRE
will grant NAT: (a) a first right to participate on all future financings,
whereby NAT will have the exclusive right and first opportunity to participate
in all offerings of equity or debt securities, convertible securities or project
financing (this right will take effect upon exercise in full by NAT of the NAT
Share Warrant and remain in effect for a period of three (3) years thereafter);
(b) a top-up private placement right, whereby NAT will have an opportunity at
the commencement of each calendar year to complete a private placement for
Common Shares in order to maintain its pro rata equity interest in CORRE as on
the date of closing of Phase I of the NAT portion of the Financing; and (c) a
public offering and prospectus demand right, whereby NAT will be entitled to
have a portion of its Common Shares qualified under any prospectus offering that
is otherwise being completed by CORRE and to demand, at any time after the first
anniversary of closing of Phase I of the NAT portion of the Financing, that the
Company file a prospectus for the purpose of qualifying a portion of the Common
Shares held by NAT. This latter right is exercisable up to three (3) times in
aggregate, but cannot be exercised more than two (2) times in any twelve month
period.


The Voting Trust and Shareholders' Agreement will remain in effect until such
time as either: (a) NAT ceases to hold any Common Shares (assuming that some or
all of the NAT Convertible Debenture and/or the NAT Share Warrant have been
converted or exercised into Common Shares); or (b) the NAT Convertible Debenture
matures or is repaid (assuming that none of the NAT Convertible Debenture and/or
the NAT Share Warrant have been converted or exercised into Common Shares). It
should be noted that all of the rights to be provided pursuant to the Voting
Trust and Shareholders' Agreement and described in this press release will
supercede and replace the equivalent rights contemplated in the Memorandum of
Agreement, as disclosed in the Company's press release dated June 16, 2009.


NAT is a private company based in Jeddah, Kingdom of Saudi Arabia, whose focus
is on investment in technology and technology-based ventures and companies. The
managing director and principal decision-maker of NAT is Mr. Mohammed M.
Binladen, a resident of Jeddah, Kingdom of Saudi Arabia. Saudi Binladin Group
("SBG") has a controlling interest in NAT through its subsidiaries Al-Najah
Investment Development Co. Ltd. ("NID") and Al-Najah Economic Development Co.
Ltd. ("NED"). For a further description of SBG, please refer to the
Corporation's press release dated June 16, 2009.


NAT is in an arm's length relationship with the Corporation and the Financing is
therefore not considered a non-arm's length party transaction.


About CORRE

CORRE is a Canadian company that utilizes its proprietary Advanced Recovery
Equipment Systems ("ARES") program to provide five comprehensive solutions for
oil recovery and soil remediation. ARES I, II and IV are commercialized
technologies offering economically viable and environmentally safe sludge
treatment solutions and remediation of oil contaminated sand, soil and solids.
ARES III is currently being commercialized for the extraction of oil from tar
sands and ARES V represents a bioremediation technology in research and
development. CORRE plans to deploy ARES in the oil producing countries of the
Middle East and other regions where there is substantial demand for its oil
recovery and remediation services.


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.

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