CVR Canadian Oil Recovery and Remediation Enterprises Ltd

Canadian Oil Recovery & Remediation Enterprises Ltd. (TSX VENTURE:CVR) ("CORRE"
or the "Company") announces that it has closed the second and final tranche of
its previously announced private placement financing of units (each an "Equity
Unit") with the issuance of an aggregate of 2,444,444 Equity Units for gross
proceeds of $330,000. An aggregate of 4,481,484 Equity Units have been issued
under this offering at a price of $0.135 per Equity Unit for total gross
proceeds of $605,000. Each Equity Unit consists of one common share of CORRE (a
"Common Share") and one-half of one common share purchase warrant. Each whole
warrant entitles the holder to acquire one additional Common Share at a price of
$0.235 for a period of 3 years from the date of issuance. All of the Common
Shares and warrants issued in connection with this offering will be subject to a
statutory four-month hold period in accordance with applicable securities laws.
The proceeds from this financing will be used to fund the Company's obligations
under its principal operating partnership, SAR-CORRE MENA, as well as to provide
general working capital. 


About CORRE

CORRE is a Canadian-based oil services company which trades on the TSX Venture
Exchange under the symbol CVR. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CORRE LTD.
John Lorenzo
Chairman & CEO
416-368-4027
jlorenzo@corre.com


CORRE LTD.
David Freeman
Corporate Development & Shareholder Communications
416-368-4027
dfreeman@corre.com

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