Freestone Resources Inc. (fka FSNR)

[RedShoulder]

This FSNR PR contained a lot of new information; and it was under the reign of the new CEO Michael McGhan.

Concerning the proclaimed "new" management. ...whether it be the first day or 8 months in...there has been not one change from the old in any form or fashion from the "old" administration

This PR was new information under the new CEO's leadership:

Freestone Resources Announces Petrozene Sales and New Distribution Network

DALLAS, TX--(Marketwired - March 08, 2016) - Freestone Resources, Inc. (FSNR) is pleased to announce it commenced sales of Petrozene through its majority-owned venture, Freestone Dynamis Energy Products, LLC (FDEP). FDEP was formed to commercialize Petrozene, and to control the production process in order to elevate Petrozene to one of the top petrochemicals in its class. FDEP also entered into its first sales agreement to provide Petrozene to oil and gas producers and regional transport companies in west Texas that suffer from production and transport-related issues due to paraffin and asphaltene buildup. Over time, paraffin and asphaltenes can cause reduced oil flow, as well as tank bottom sludge-related problems.

FDEP sold an order of Petrozene to a petroleum transport company that has more than one hundred terminals throughout the United States. The initial reports from the use of Petrozene at one of their terminals showed very positive results prompting the transport company to place another Petrozene order. FDEP plans to provide Petrozene in larger quantities to their other terminals throughout the United States.

FDEP is in negotiations with multiple large transportation companies that face issues with tank bottom buildup in their railcars and other transport and storage vessels. Originally, Freestone developed Petrozene to break up tank bottom sludge and prevent it from forming. This dual-use application provides petroleum transport companies with a solution that greatly reduces maintenance and cleaning costs, and prevents the tank bottom sludge buildup that significantly reduces petroleum storage capacity.

FDEP also provides Petrozene to smaller, regional transport companies that have similar issues, as well as to oil and gas producers that can utilize Petrozene downhole to manage paraffin and asphaltene buildup that greatly reduces a well's production over its lifetime. The oil fields in west Texas have many wells that produce from multiple formations, both old and new, that encounter these issues. Freestone's field tests have indicated that Petrozene treatments down hole can substantially increase production in wells that have paraffin and asphaltene issues.

News Link:
http://finance.yahoo.com/news/freestone-resources-announces-petrozene-sales-140000829.html