NAT Naturally Advanced Technologies Inc.

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 has
entered into an amending agreement (the "Amending Agreement") with Al-Najah
Advanced Technology Co. Ltd. ("NAT") in respect of its previously announced
two-phase financing for aggregate gross proceeds of up to $8.5 million (with the
full amount of the financing being for aggregate gross proceeds of up to $10
million (the "Financing")) (see CORRE's press releases dated June 16, July 16,
and August 14, 2009 for further details concerning the Financing). The principal
terms of the Amending Agreement are as follows: 


-  Subject to the satisfaction of certain closing conditions set out in the
Amending Agreement and the definitive documents, the NAT portion of the
Financing (being an aggregate of up to $8.5 million in gross proceeds) will
still occur in two phases, comprised of: (i) an initial issuance of a
convertible secured debenture (the "Convertible Secured Debenture") by CORRE to
NAT in the principal amount of $4.25 million (the "Phase I Financing"); and (ii)
the full or partial exercise by NAT, in its sole discretion, of warrants to
purchase common shares of CORRE in the amount of $4.25 million (the "NAT Share
Warrants"), to be issued at closing of the Phase I Financing (the "Phase II
Financing"). At such closing, $4.25 million (being the principal amount of the
Convertible Secured Debenture (the "Principal Amount")) will be advanced by NAT
and placed into escrow with NAT's Canadian counsel, $1.4 million of which will
become immediately releasable to CORRE upon receipt of final approval of the
Financing by the TSX Venture Exchange;


-  Personal guarantees over the aforementioned $1.4 million will be provided to
NAT on a joint and several basis from two of CORRE's Founding Shareholders;


-  The remaining $2.85 million of the Principal Amount will remain in escrow
until such time as NAT, in its sole discretion, delivers an executed Acceptance
Notice to CORRE approving CORRE's five-year business and financial plan (the
"Business and Financial Plan"), at which time the balance of such funds will be
released to CORRE and immediately thereafter the full Principal Amount will be
converted into common shares of CORRE in accordance with the terms of the
Convertible Secured Debenture. Notwithstanding the foregoing, in the event that
NAT, in its sole discretion, rejects the Business and Financial Plan (which
rejection will automatically be deemed to have occurred if NAT does not deliver
an Acceptance Notice to CORRE within six months from closing of the Phase I
Financing), such $2.85 million will be immediately released from escrow and
returned to NAT as a repayment of principal under the Convertible Secured
Debenture, without in any way affecting CORRE's obligation to repay the balance
of the Principal Amount and interest thereon and perform all of its other
obligations under the Convertible Secured Debenture and the other definitive
documents.


-  The time for delivery of the initial Business and Financial Plan is extended
from three (3) months to four (4) months (followed by a two (2) month period for
review by NAT), such that the period for review and acceptance by NAT will
expire no later than six (6) months from the date of the Convertible Secured
Debenture. 


-  The Voting Trust and Shareholders' Agreement has also been modified to
reflect that NAT's right to appoint a number of directors as is proportionate to
its pro rata equity interest (fully diluted) shall take effect upon acceptance
by NAT of the Business and Financial Plan. Further, the "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 of the date of closing of the
Phase I Financing (assuming the conversion of the Convertible Secured Debenture
and the exercise of the NAT Share Warrant on such closing date)) will also take
effect only after NAT has accepted the Business and Financial Plan.


Closing of the Phase I Financing will occur as expeditiously as possible upon
the satisfaction of both parties, in their sole discretion, of certain standard
closing conditions prior to the advance of funds by NAT, including the
settlement and delivery of security documents and legal opinions, the
registration of security interests, the absence of material adverse change or
impairment in respect of CORRE and its assets, the execution and delivery of the
definitive transaction documents and ancillary closing documents, and the
receipt of final approval from the TSX Venture Exchange.


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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