Gas discovered in P.E.I. near Souris

An exploratory well has found natural gas near Souris, in eastern P.E.I., but the two partners in theventure are sending mixed messages about its significance.

Halifax-based Corridor Resources Inc. whichreported a possibly significant find in Cavendish in September dug the well. The Souris well is in partnership with PetroWorth Resources Inc. of Calgary, which holds the mineral rights for the area.

CorridorCEO Norm Miller said Wednesday it's not surprising that they found gas, because there have been other gas finds in the area.

PetroWorth president Neal Mednick used more positive language.His company's statement reports "several significant gas shows."

Corridor hopes to show commercial potential for both wells by bringing in crews who will fracture the sediments holding the gas in an attempt to force the gas into the well.

The crews willarrive from New Brunswick on Nov. 1 and will go to Cavendish first,then to Souris.

Shares of Corridor closed down 42 cents to $9.58 in Wednesday trading on the Toronto Stock Exchange.By late afternoonThursday, they were down anothersix cents, to $9.52.