CORRE Secures Shareholder Loans for 2014 Budget

Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)
("CORRE" or the "Company") is pleased to provide an update on its 2014 operating
budget for its Canadian and Dubai operations and its upcoming capital
requirements. 


The Company's directors have approved the 2014 operating budget of $1,602,000.
CORRE'S major shareholders, directors and senior management, including Al-Najah
Advanced Technology ("NAT") and the Company's Chairman and CEO John Lorenzo,
have agreed to provide a total of $1,172,000, of which $669,000 has been
advanced to the Company to-date. The balance of $503,000 will be advanced in
three equal bi-monthly installments by NAT, under its financing commitment. The
Company is currently in discussions with one other major shareholder to provide
the remaining $430,000.


All the above-mentioned financings are interest-free shareholders' loans. It has
been further agreed that the repayment or settlement of all the above-mentioned
shareholders' loans will be reviewed in Q1 of 2015 when the Company anticipates
starting to receive its share of revenue from the current drill cuttings
treatment contract in Kuwait. 


The Company continues to work with its operating partner, major shareholders and
Kuwaiti banks to finance SAR-CORRE MENA's operating budget and capital
expenditures for the current drill cuttings treatment project. The Company will
provide updates as it progresses in this regard.


"The generous commitment and support of CORRE's major shareholders and directors
have been greatly appreciated by management. The unsecured non-interest bearing
loans which the shareholders have provided to the Company speak clearly of their
continued confidence in management and the Company's success and growth." stated
Mr. David Freeman, head of Corporate Development. 


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, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, the potential future value of the KOC Contract,
estimated operating costs and CAPEX and the potential for successfully obtaining
additional contracts via the tendering processes discussed herein. Although we
believe that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be
correct. We cannot guarantee future results, performance or achievements.
Consequently, there is no representation that the actual results achieved will
be the same, in whole or in part, as those set out in the forward-looking
information.


Forward-looking information is 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 anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: commodity price volatility; general economic conditions in
Canada, the United States, the MENA region and globally; industry conditions,
governmental regulation, including environmental regulation; unanticipated
operating events or performance; failure to obtain industry partner and other
third party consents and approvals, if and when required; the availability of
capital on acceptable terms; the need to obtain required approvals from
regulatory authorities; stock market volatility; competition for, among other
things, capital, skilled personnel and supplies; changes in laws; and the other
risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are
cautioned that this list of risk factors should not be construed as exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.


Neither the 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 this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Oil Recovery and Remediation Enterprises Ltd.
John Lorenzo
Chairman & CEO
[phone]


Canadian Oil Recovery and Remediation Enterprises Ltd.
David Freeman
Corporate Development
[phone]
[e-mail]