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adding here, when it happens this baby will play.
CTUM is a long term play, Gatez, but in an unspecified short period of time, you will see exactly why. I suggest to all, to pick up a few shares why the getting is still extremely good!
See the CTUM board for more info.
http://www.investorshub.com/boards/board.asp?board_id=4496
L~
ENDE--.05-- EnDevCo signs Farmin agreement
11/29/05
Nov 29, 2005 (M2 EQUITYBITES via COMTEX) --
EnDevCo Inc (OTC Bulletin Board:ENDE), an energy development company, announced on 28 November details of a new Farmin agreement. This agreement covers operational rights on the East Cameron Block 71 located in Federal OCS Waters offshore South Louisiana. EnDevCo has obtained the necessary debt financing for the project and has identified a rig to start the initial well re-completion.
The company also has access to the production platforms on East Cameron Block 71/72 Field drilling currently in operation. The previously acquired 3D seismic over East Cameron Block 71 will be utilised to identify additional drilling locations. EnDevCo has designated Open Choke Energy LLC as the project operator. If re-entry is not successful EnDevCo has the right to drill a replacement well to test the OC sand within a reasonable time frame. The agreement was secured from Noble Energy Inc, Mariner Energy Inc and Entech Enterprises Inc. Before payout, Noble, Mariner and Entech will together retain a total 8.33% overriding royalty interest which can be converted at their option to a 25% working interest after payout. Under a joint participation agreement between EnDevCo and Open Choke, EnDevCo will earn one-third and Open Choke will earn two-thirds of the rights in this farm-out.
I would guess you are still holding this one but have you added any? If I remember right you said you thought it was more of a longer term play and not a flipper.. GLTY
PYR Energy FY 2005 EPS Nil Vs Loss 5c/Share >PYR
WASHINGTON (Dow Jones)--The following table is a summary of PYR Energy Corp.'s (PYR) financial information for its fiscal year ended Aug. 31, as disclosed in the company's annual report filed Tuesday with the Securities and Exchange Commission.
Year Ended Aug. 31:
2005 2004
Oil and gas revenue $6,102,000 $863,000
Net income 12,000 (1,359,000)
Avg shrs (diluted) 32,290,000 25,790,000
Shr erns
Net income .... (.05)
Figures in parentheses are losses.
GSHF GreenShift Acquires Stake in Electronic Scrap Recycling Corporation; Company is Developing Proprietary New Ferrofluid Recycling Process
MOUNT ARLINGTON, N.J.--(Business Wire)--Nov. 29, 2005--
GreenShift Corporation (OTC Bulletin Board: GSHF) today
announced its acquisition of an 80% stake in Electronic Scrap
Recycling Corporation ("ESRC"), an Indiana-based full service recycler
of electronic components.
Under the terms of its agreement with ESRC, GreenShift acquired
80% of ESRC's outstanding stock and received certain commercial rights
in return for 1.6 million shares of GreenShift common stock and
GreenShift's provision of technology rights, strategic business
development and other services.
E-Waste Recycling
Obsolete electronic equipment is a rapidly expanding problem in
today's economy. As technology continues to make significant leaps,
the life cycle of electronic products shortens dramatically. The
National Safety Council estimates that over 500 million obsolete
computers will be discarded in the United States alone. Additional
electronic devices such as cell phones, office machines and a host of
other products present problems not only to the environment, but to
the businesses, individuals and organizations that must deal with
their disposal. In addition to the bulk materials such as plastic and
steel, electronics also contains significant amounts of toxic
materials including lead, mercury, arsenic, chromium and more.
ESRC currently provides full service electronic waste ("e-waste")
recycling, logistics and Certified Data Destruction services to public
and private sector clients out of its 125,000 square foot facility in
Elkhart, Indiana.
Ferrofluid Separation
ESRC is developing a proprietary new ferrofluid process that is
capable of preferentially separating targeted compounds from a mixed
solid waste stream. Ferrofluids are liquids that are comprised of
nanoscale magnetic particles suspended in a carrier fluid and exhibit
novel properties when exposed to specific magnetic fields.
Conductivity, viscosity and volatility can all be manipulated through
the selection and sizing of the particles and the application of
specific magnetic fields.
Importantly, ESRC's ferrofluid process can enable the preferential
separation of targeted compounds out of a mixed micron sized powder.
This can be important because GreenShift's Tornado Generator(TM)
technology cost-effectively grinds, desiccates, and atomizes solid and
liquid wastes and other materials into micron sized powders.
ESRC plans to use its ferrofluid process, the Tornado
Generator(TM) technology, GreenShift's existing plastics and metal
separation and other technologies, and some conventional process
technologies to dramatically decrease capital costs and improve
operating efficiencies for processing e-wastes.
Brett Oliphant, ESRC's chief executive officer, said that "Our
view is that the e-waste recycling industry is becoming a
commodity-driven business. Tipping fees will eventually give way to
commodity sales as the value of the plastics and metals in e-waste
begins to govern the economics of the industry. We believe that, when
this time comes, the relative operating efficiencies of e-waste
processors will define who survives and who does not. Our strategic
plan therefore is to invest in technologies that drive operating costs
down while we acquire small- to medium-sized e-waste brokers and
processors to consolidate volume. We believe that GreenShift will help
us on both fronts and we are very excited to have their support."
"E-waste recycling is a compelling challenge that we intend to
address with our investment in ESRC," added Kevin Kreisler,
GreenShift's chairman and chief executive officer. "ESRC's existing
volumes of e-waste and positive cash flows are strategic to our
existing technologies, their technology has some fascinating
potential, their approach to the market is dead on, and their business
presents us with a platform to acquire significant market share. We
are excited by this investment and we intend to provide ESRC with the
resources it needs as it scales its business."
Technology and Manufacturing Rights
Under GreenShift's agreement with ESRC, ESRC will assign its
technologies and intellectual property rights to GreenShift Industrial
Design Corporation ("GIDC"), a wholly owned GreenShift company, who
will in turn provide ESRC with non-exclusive license rights to all
current and future GIDC technologies, including its Tornado
Generator(TM) and plastic waste separation technologies.
GreenShift's agreements with ESRC also provide for right of first
refusal manufacturing rights to ESRC's planned new e-waste recycling
equipment and products for INSEQ Corporation (OTC Bulletin Board:
INSQ), another GreenShift portfolio company.
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development
company (BDC) whose mission is to develop and support companies and
technologies that facilitate the efficient use of natural resources
and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are
essentially publicly-traded equity funds where shareholders and
financial institutions provide capital in a regulated environment for
investment in a pool of long-term, small and middle-market companies
through the use of senior debt, mezzanine financing, and equity
funding.
GreenShift plans to use equity and debt capital to support and
drive the value of its existing portfolio of companies and to make
investments in a diversified mix of strategically compatible growth
stage public and private businesses and technologies. GreenShift's
current portfolio includes investments in the following
environmentally proactive companies:
-- Veridium Corporation (OTC Bulletin Board: VRDM);
-- INSEQ Corporation (OTC Bulletin Board: INSQ);
-- GreenWorks Corporation;
-- GreenShift Industrial Design Corporation;
-- Ovation Products Corporation;
-- Tornado Trash Corporation;
-- Mean Green BioFuels Corporation;
-- Ethanol Oil Recovery Systems, LLC;
-- Sterling Planet, Inc.;
-- TerraPass, Inc.;
-- Aerogel Composite, Inc.;
-- Air Cycle Corporation;
-- Electronic Scrap Recycling Corporation;
-- Coriolis Energy Corporation;
-- Hugo International Telecom, Inc.; and,
-- TDS (Telemedicine), Inc.
Additional information regarding GreenShift Corporation is
available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Those statements
include statements regarding the intent, belief or current
expectations of GreenShift Corporation, and members of their
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that could
cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
GreenShift Corporation
Jim Grainer, 973-398-8183
Fax: 973-398-8037
investorrelations@greenshift.com
www.greenshift.com
or
CEOcast, Inc. for GreenShift Corporation
Ed Lewis, 212-732-4300
Copyright Business Wire 2005
29Nov05 13:51 GMT
Symbols:
us;GSHF
Source BW Business Wire
Categories:
MST/I/CHM MST/I/ICS MST/I/OIS MST/I/POL MST/L/EN MST/R/NME MST/R/US
MST/R/US/IN MST/R/US/NJ MST/S/MRG TGT/BWB
SYNM -Syntroleum Initiating Testing Program with Coal-Derived Synthesis Gas
Tuesday November 29, 8:17 am ET
TULSA, Okla.--(BUSINESS WIRE)--Nov. 29, 2005--Syntroleum Corporation (Nasdaq:SYNM - News) announced that it has signed an agreement to conduct laboratory-scale demonstration of Syntroleum's Fischer-Tropsch (FT) catalyst with coal-derived syngas produced at an established gasification facility.
During the last two years at Syntroleum's 70 barrel per day gas-to-liquids (GTL) facility at the Port of Catoosa near Tulsa, Okla. Syntroleum utilized its proprietary FT-410 cobalt catalyst to successfully demonstrate the Syntroleum® Process by producing ultra-clean diesel and jet fuels from natural gas feedstock for various U.S. government programs.
This new testing program will demonstrate the effectiveness of the Syntroleum FT catalyst with proven coal-derived syngas clean-up and treatment processes for use in a coal-to-liquids (CTL) application. Syngas, which consists of hydrogen and carbon monoxide, is the building block for many chemical processes including FT ultra-clean fuels produced from the Syntroleum® Process.
"This testing program is an important step for Syntroleum in demonstrating that our proven natural gas-to-liquids technology is also applicable to coal-to-liquids as well," said Ken Roberts, senior vice president of business development for Syntroleum. "We see this as an opportunity to develop our position toward participation in future coal-to-liquids plants."
The testing protocol will include two bench-scale FT reactors and gas sampling connections to the clean syngas production flow. The testing program is planned to begin in January and run for approximately six months. Syntroleum specialists will work with the personnel from the gasification company in this program funded by Syntroleum.
"Coal-to-liquids technology has the potential of providing a tremendous source of ultra-clean fuels from abundant coal reserves in the United States and other regions of the world," Roberts said. "The U.S. has the world's largest estimated recoverable coal reserves equaling over 268 billion tons. If only 5 percent of this coal were converted to FT liquids, it would be equivalent to the entire oil reserves currently held by the U.S.
"As the U.S. seeks energy independence and security of supply, Syntroleum believes that advancement of technologies such as the Syntroleum® Process is essential to achieve that goal. Our 20-year history in gas-to-liquids is a foundation for successful transition into coal-to-liquids in the coming years."
Syntroleum Corporation owns a proprietary GTL process for converting natural gas or synthesis gas derived from coal into synthetic liquid hydrocarbons. The company plans to use its technology, as well as other third party gas processing technologies, to develop and participate in gas and coal monetization projects in a number of global locations.
This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements relating to the impact of the energy bill on Syntroleum and the coal-to-liquids industry, the testing, certification, characteristics and use of synthetic fuels FT catalyst and alternative fuels, the Syntroleum Process and related technologies and products, GTL or coal-to-liquids plants using the Syntroleum Process, government support for the construction and operation of such plants, the economic use of such plants and the continued development of the Syntroleum Process. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "plan," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. Although Syntroleum believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that commercial-scale GTL plants will not achieve the same results as those demonstrated on a laboratory or pilot basis or that such plants will experience technological and mechanical problems, the potential that improvements to the Syntroleum Process currently under development may not be successful, the impact on plant economics of operating conditions (including energy prices and government support for such plants), construction risks, risks associated with investments and operations of GTL and coal-to-liquids plants, the ability to implement corporate strategies, competition, intellectual property risks, Syntroleum's ability to obtain financing and other risks described in the company's filings with the Securities and Exchange Commission.
® "Syntroleum" is registered as a trademark and service mark in the U.S. Patent and Trademark Office
--------------------------------------------------------------------------------
Contact:
Syntroleum Corporation, Tulsa
Mel Scott, 918-592-7900
mscott@syntroleum.com
--------------------------------------------------------------------------------
Source: Syntroleum Corporation
EYTC -Energytec Closes Largest Acquisition in Company's History
Tuesday November 29, 8:35 am ET
DALLAS, Nov. 29 /PRNewswire-FirstCall/ -- Energytec, Inc. (OTC Pink Sheets: EYTC - News) announced today that it closed its largest property acquisition, in terms of production and revenues, in the history of the Company. Energytec acquired 55 wells, currently producing approximately 250 barrels of oil per day, including 22 wells currently shut in needing additional work. The Company plans to perform that work over the next six to twelve months. The properties are located on 35 leases covering four fields in Hopkins and Wood Counties, Texas approximately 100 miles east of Dallas and situated within easy distance from the Company's other major East Texas properties at Talco, Sulphur Bluff, Redwater and Kilgore.
Frank W Cole, Energytec's President and CEO, commented, "This is an important acquisition for us in many ways. It will double our existing oil and gas revenues. The properties are stable with long life reserves, and, there is additional upside in using our Comanche Well Service equipment to bring on more wells and increase production. We also will receive a significant amount of property and equipment managed by an extremely good financial and field administrator and complement of field personnel."
The transaction closed Tuesday, November 22, but was effective October 1, 2005 for financial reporting purposes. Energytec will own the Project outright with 100% of the working interest.
President Cole commented further, "As a matter of policy we do not discuss purchase prices and terms, but we have added reserves to the Company at a price of approximately $6.00 per barrel of proved producing reserves. We believe this is an outstanding buy for the Company in this market environment."
ABOUT ENERGYTEC
Energytec, Inc. is a growing independent oil and gas company based in Dallas, Texas principally engaged in acquisition and development of mature fields with established oil and gas reserves that have declined in production yet still possess significant remaining upside exploitation potential. Its operations are focused primarily in four areas of Texas (Northeast, East, Central and South Central) and secondarily in Wyoming in the Big Horn Oil Field, where it is undertaking a significant thermal recovery project. Energytec has increased production and reserves on the properties it owns and intends to continue to increase production and reserves on those properties, as well as new acquisitions, through drilling new wells, and implementing other development programs such as workovers and secondary recovery operations. The Company maintains a website at http://www.energytec.com . For further information, call Frank W Cole, Chairman of Energytec, at 972-789-5136 or email the Company at energytec@energytec.com .
The statements in this document concerning management's plans and objectives including those related to the timing of work to be performed on shut in wells, the continued production at the current rate of 250 barrels of oil per day, the ability to double Energytec's current oil and gas revenues, and the life of the reserves constitute forward-looking statements pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements involve risk and uncertainties that could cause actual results to differ materially from those set forth in these statements. Factors which could cause or contribute to such differences include, but are not limited to the retention of the field administrator and field personnel, sustaining current production rates, the ability to obtain drilling permits and the ability to utilize our own equipment and manpower or to procure third party services to complete workovers on shut in wells within the given time frame, and economic factors which could affect demands for oil and natural gas as well as commodity prices, as well as factors detailed in the Company's Report to Shareholders; down-turns in the Company's primary markets; disruption to the Company's operations from acts of God or extended maintenance; and production and transportation difficulties. The realization of any of these risk factors would significantly impact the recognition of revenues anticipated by management. Accordingly no assurance can be given that events or results mentioned in any such forward-looking statements will in fact occur. Energytec, Inc. assumes no obligation to update this information.
--------------------------------------------------------------------------------
Source: Energytec, Inc.
AMEP American Energy Production Inc. Completes Work on Ideco Drilling Rig; Transportation to First Drilling Location Has Begun
Business Wire - November 29, 2005 08:30
MINERAL WELLS, Texas, Nov 29, 2005 (BUSINESS WIRE) -- American Energy Production Inc. (OTCBB: AMEP) announced today the first raising of the derrick on the Ideco drilling rig which is owned by wholly owned investee AMEP Strategic Investments Inc. The raising of the derrick, was the final step in the refurbishment program so the rig can now be moved to the first drilling location.
Charles Bitters, President of American Energy Production Inc., said, "The Ideco drilling rig has been completely re-furbished and the drilling rig derrick was raised the day before Thanksgiving. The drilling rig engines and torque converters ran and worked perfectly. The drilling rig derrick was raised and locked in place very smoothly for the first time since the rig was acquired."
Bend Arch Petroleum Inc. has begun moving the Ideco drilling rig to its twelve well properties, and will drill a 3,100 foot developmental well. This well will have four to five potential natural gas formations that could produce 300,000 to 500,000 cubic feet of natural gas per day. The company will use this relatively shallow well as a test before it attempts to drill to its maximum depth on a horizontal Barnett Shale natural gas well. This well will be used to work out any remaining issues with the rig that may occur before attempting a maximum depth effort with the rig.
Bend Arch Petroleum Inc. geologists have begun studying 3-D seismic maps from the recent seismic shoot to determine two Barnett Shale locations for the Oil America Group Limited Partnership Investor program. Potential investors can contact Joe Christopher at jchristoper@oilamericagroup.com or 972-386-0601.
Pictures and video clips of the Ideco Drilling rig can be seen at one of the web sites listed below: http://www.americanenergyproduction.com/projects_6.html http://www.oilamericagroup.com/
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risks, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.
SOURCE: American Energy Production Inc.
American Energy Production Inc.
Charles Bitters, 210-410-8158
http://www.americanenergyproduction.com/
or
Oil America Group Corp.
Joe Christopher, 972-386-0601
jchristopher@oilamericagroup.com
http://www.oilamericagroup.com/
Word of advice: Big money for the 'bandwagoner' start-ups!!
On the surface, it always SOUNDS good, but there's leases (but then, what good is a zillion acres of leases w/o a rig), equipment (no easy thing there, to find), surveying, experienced help, etc.
These start-ups take major advantage of the people who look at 'em as an IPO....like they're getting their foot in the door of a 'really good deal'! LMFAO!!!
And here I thought UPDA was a lookin' to be a fragrant POS!
I've got my eye on it though, and will probably jump back in when it looks like a bottom play.
Chart looks very bearish.. I am out right now and think it will go lower... what happened to all those $1+ mil/month revenue projections by EOY... with yesterday's action I wouldn't be surprised if we test the 52-week low area again... JMHO
NWGN NewGen Announces Formation of International Joint Venture to Drive Global Expansion
CHARLOTTE, NC -- (MARKET WIRE) -- 11/29/2005 -- NewGen Technologies, Inc. (OTC BB: NWGN) today announced the formation of its first international joint venture with AG Global Partners, Ltd., a provider of international biofuel and alternative energy solutions. Alex Greystoke and Geoff Dawson of AG Global Partners will be responsible for assembling a team to emulate the NewGen and ReFuel America model of being a completely integrated supplier of performance fuels and biofuels. The joint venture company, owned equally by NewGen and AG Global Partners, will be involved in all steps of the fuel supply chain internationally -- from the manufacture of biofuels through to the supply and distribution of fuels to wholesale and retail networks, including to commercial fleets and retail gas stations.
The new joint venture company, NewGen Fuel Technologies, Ltd., will be run by Alex Greystoke, CEO of AG Global Partners. Current directors of NewGen Technologies, Ian Williamson, Cliff Hazel and John King, will sit on the board of the company and provide technical support for all aspects of the venture. The operation will offer performance fuels, biofuels and green energy solutions to governments, businesses, and other industry players in various global markets including Europe, the Middle East, Southeast Asia, and Australia.
AG Global Partners has already identified significant opportunities in various parts of the world for the company to provide green energy solutions for governments, utilities, industry and transportation.
S. Bruce Wunner, Chairman and CEO of NewGen Technologies, stated, "This new joint venture will help NewGen continue its expansion internationally into global green energy and biofuel projects. By teaming with AG Global Partners, we will be able to expand our technologies to new fuel and production opportunities. This transaction is yet another example of leveraging NewGen's capabilities with appropriate strategic partners to speed our market entry at minimal cost."
Alex Greystoke, CEO of NewGen Fuel Technologies, added, "We are delighted to be working with an internationally-focused, vertically-integrated biofuels company that understands the importance of providing global green energy solutions now. We are already working with governments and companies around the world to find solutions to the environmental and economic problems caused by fossil fuel use, and our joint venture with NewGen will allow us to significantly improve and accelerate these efforts. Together we will be able to offer complete solutions, encompassing secure feedstock supply, world-class biofuel plant engineering and design, proprietary and proven fuel technologies, and an unmatched team of individuals in this emerging industry."
Alex Greystoke
Alex Greystoke is a dual qualified lawyer, admitted to practice in the State of Texas and in England, who has significant experience as both a corporate and litigation attorney. He has worked at major U.S. and international law firms including Slaughter & May and Morgan Lewis. Most recently, Mr. Greystoke established a successful international private and public corporate finance business, covering the U.K. and much of the rest of the world.
Geoff Dawson
Geoff Dawson is a native of the U.K. with over 35 years of experience in managing multi-million dollar international real estate investments, land development, and commercial business ventures. He is currently Vice President, Europe & the Middle East, for the Meneren Corporation, an internationally-focused project development firm recognized as a leader in the planning, funding, and development of large international infrastructure projects. Mr. Dawson is also a former director of some of the U.K.'s most prominent property management companies. His experience in dealing with governments and financial institutions, coupled with his organizational abilities and range of contacts particularly in the political and diplomatic fields, attracted the attention of the European Commission and other similar organizations, resulting in invitations to oversee several international trade projects.
About NewGen Technologies, Inc.
NewGen's mission is to be a leading manufacturer, processor and distributor of premium biofuels that are intended to dramatically reduce the ecological and economic impact of world petroleum use. NewGen believes that it has developed the cleanest burning and highest performing fuels in the world by utilizing technology that allows for more complete combustion, which NewGen believes will result in improved miles per gallon and significantly decreased harmful emissions, including reduced carbon monoxide, carbon dioxide, nitrous oxides, particulates and black smoke. The company's fuel products include proprietary and complex technology, substantially and predominantly derived from petroleum sources, which are intended to improve the performance of gasoline and diesel fuels, as well as domestically-produced and environmentally-friendly alternative fuels such as Ethanol-based E85 and Biodiesel-based B20. The vision of NewGen and ReFuel America, NewGen's wholly owned U.S. subsidiary, is a world less dependent on oil, using secure, homegrown fuels which better preserve our most important resources -- the air we breathe and water we drink.
Additional information can be found at the company's website www.nwgntech.com.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of NWGN and PRL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
Media Contact:
Blois Olson
New School Communications, Inc.
(651) 221-1999
b.olson@new-school.com
Investor Contact:
Jody Burfening/Chris Witty
Lippert/Heilshorn & Associates, Inc.
(212) 201-6609
cwitty@lhai.com
BKGD -Black Gold Gas & Oil Announces Plan to Move to New Exchange
Tuesday November 29, 7:00 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 29, 2005--Black Gold Gas & Oil, Inc. (Pink Sheets:BKGD - News) today announced that they plan to move to the Over the Counter Bulletin Board exchange.
"A move to the OTCBB will give our stock a little more stability as well as support from market makers and investment bankers," reported Mike McGeeney, BKGD's President.
The company will announce their timeline after upcoming meetings with accountants and legal counsel.
Black Gold Gas & Oil, Inc. is an independent natural resource company focused on the exploration and development of prolific oil and gas properties and valuable timberlands. The Company is expanding rapidly in these areas in addition to achieving substantial progress in supplying oilfield service, drilling equipment and international oil refining.
Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of Black Gold Gas & Oil, Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; economic downturns affecting the operations of the Company, and the need for adequate financing to achieve the new strategic plans and to complete management's overall plans and objectives. Black Gold Gas & Oil, Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Black Gold Gas & Oil, Inc., reference is made to Black Gold Gas & Oil, Inc.'s reports filed from time to time with the Securities and Exchange Commission.
Contact:
Black Gold Gas & Oil, Inc., Fort Lauderdale
Mike McGeeney, 561-310-0236
--------------------------------------------------------------------------------
Source: Black Gold Gas & Oil, Inc.
MEK +11% ...hitting new highs! ...
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REXI ...end of uptrend? ...
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NEGI +9% ...closed HOD ...
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BDGR -4% ...bottom play? ...
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SUF +10% ...very nice upward trend ...how high can it go tho?
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AEZ -4% more and falling? ...
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SELA ...has a nice kinda appeal to it. ...
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GPOR ...resuming the uptrend? ...
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SIOR +27% ...thinly traded ...
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TXHE -25% ...new chart low! ...
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MSEV +8% ...something happenin' here? ...
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WYSK -22% ...closed at new 6 mo. chart low ...
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PTGC -11% and falling? ...
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ASPN ..hmmmm... ...
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LGOV -almost 10% ...just can't seem to keep it up! ...
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PRRPF -5% ...going down? ...
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BESV ...holding recent gains nicely! ...
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IWNN +20% nice move off bottom! ...
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SPRL +3% hmmm...worth a closer look ...
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TNOG -4% more ...still looking for bottom? ...
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UPDA -15% ...
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OMOG +6% ...picking itself up off the bottom? ...
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AOOR -4% ...hitting and holding new 6 mo. lows. ...
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Reminder: This is a U.S. Oil and Gas Plays board! NDOL is a Canadian company producing O&G in Russia. There is a Canadian board for such companies. Please use it.
POGI Paradigm Oil and Gas Successful Well Completed in Major Oil Sands Development Project
Market Wire - November 28, 2005 2:58 PM (EDT)
Jump to first matched term
CALGARY, AB, Nov 28, 2005 (MARKET WIRE via COMTEX) -- Paradigm Oil and Gas Inc. (OTC BB: POGI)
Paradigm Oil and Gas Inc. (OTC BB: POGI) is pleased to announce that a successful well drilled by Precision Drilling at Sawn Lake has been completed with the testing stage to be started.
The well drilled at Sawn Lake in the Peace River area of North Western Alberta was drilled to a vertical depth of 752 meters followed by a horizontal leg of over 700 meters. It confirmed the pay zones as stated in a published Ryder Scott engineering report, and a high concentration of solution gas present.
The successful well has been cased and the operator anticipates beginning the testing phase in early December 2005.
The operator of the project recently announced the appointment of Mr. Leigh Cassidy as Chairman and CEO and conclusion of an $8,550,000 institutional financing for its interest in Sawn Lake project. Mr. Cassidy during his tenure as a senior management official at UTS Petroleum (TSX-V: UTS) was a key individual in the success of that oil sands company which currently has a market capitalization of over $1.5 Billion.
Paradigm Oil and Gas holds a farm in agreement with 1132559 Alberta Ltd., a private Alberta corporation, which owns a 10% working interest in 69.5 contiguous sections of oil sands leases at Sawn Lake. The majority interest partner is Deep Well Oil and Gas Inc. (OTC: DWOG).
Other joint venture partners include Pan Orient Energy Corp. (TSX-V: POE) with a 10% working interest equal in size to Paradigm's partner. On November 15, 2005, a leading research analyst initiated coverage of Pan Orient. The report stated reserves in place at Sawn Lake have been estimated by 3rd party engineers at 1.2 billion barrels (gross) pf 10-degree API oil; with a recovery under primary (cold) production of 8%. This would return net for 10% working interest 9.6 million barrels of oil. Secondary production could result in doubling or greater of the recoverable reserves. The report further stated this type of oil in the area is receiving approximately $45.00/b
Paradigm Oil and Gas with its participation in this first successful well validated its farm in agreement with 1132559 Alberta Ltd. In addition, the company holds an option with 1132559 Alberta Ltd. for future participation.
The completion of this well establishes Paradigm Oil and Gas in the current prolific development of the Northern Alberta Oil Sands. Other producing projects in close vicinity include Shell Peace River and Black Rock Ventures Inc. (TSX-V: BVI).
About Paradigm Oil and Gas Inc.
Paradigm is a junior oil and gas company headquartered in Calgary, Alberta, Canada. Its management believes in taking interest in low risk western Canadian energy projects and developing them jointly with experienced operators maintaining low overheads for the company. The company currently holds interests in the Todd Creek exploration project and options to participate in 7 addition sections. The Sawn Lake oil sands project is on 63 contiguous sections in North Western Alberta where Ryder Scott, a notable engineering firm, have estimated the original oil in place to be over 800,000 000 barrels
Forward-Looking Statement
This press release contains forward looking statements. The words "would be," "will allow," "intend to," "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the company's proposed oil and gas related business. The Company's business is subjected to various risks, which are discussed in the company's filings with the "Securities and Exchange Commission" (SEC). The company's filings may be accessed at the SEC's Edgar system at www.sec.gov.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:
Paradigm Oil and Gas Inc.
Investor Relations
Greg Werbowski
1-877-685-7719
Email - Contact via http://www.marketwire.com/mw/emailprcntct?id=214F07DD82DD8CB3
Website - www.paradigmoilandgas.com
SOURCE: Paradigm Oil and Gas Inc.
http://www.paradigmoilandgas.com
Copyright 2005 Market Wire, All rights reserved.
SYNM: Syntroleum Signs Heads of Agreement to Develop Oil Discovery
Monday November 28, 4:17 pm ET
TULSA, Okla.--(BUSINESS WIRE)--Nov. 28, 2005--Syntroleum Corporation (Nasdaq:SYNM - News) announced today the execution of a Heads of Agreement (HOA) with an indigenous oil and gas company, Britania-U Nigeria Ltd., to acquire a 40 percent participating interest in an oil discovery in Oil Mining Lease OML 90 offshore Nigeria in the Ajapa Field.
The Ajapa #1 well was drilled in approximately 30 feet of water and it flowed at stabilized rates of 4,210 barrels of oil per day from approximate 100 feet of net pay. The tested crude oil was high quality 40 API gravity. The Ajapa #1 well was suspended and potentially will be completed for production. The Ajapa Field is defined by high quality 3D seismic data and the logs and test data from the Ajapa #1 well.
Syntroleum estimates the Ajapa Field could contain from 15 million to more than 70 million barrels of gross oil. Syntroleum will undertake an appraisal drilling program to confirm the reserve and production potential of the Ajapa field.
"Due to the shallow water depth of Ajapa and the presence of existing infrastructure in the area, this project provides the potential for near term cash flow for Syntroleum. It is consistent with our objective of working to develop more near term cash flow while we pursue our broader objective of developing our first GTL plant," said Jack Holmes, president and CEO of Syntroleum. "The Ajapa Field is one of several discovered, partially delineated oil and gas fields in West Africa that we are pursuing. While there is additional appraisal work to be done to confirm commerciality, we look forward to implementing successful oil development of this field."
The first appraisal well is anticipated to be drilled in 2006, subject to government approval and rig availability.
The parties will now commence negotiation and execution of definitive agreements, including but not limited to, a participation agreement, joint operating agreement and technical assistance agreement.
ENDE--.05--EnDevCo Acquires Interest in Offshore Production Potential
11/28/05
HOUSTON, Nov 28, 2005 /PRNewswire-FirstCall via COMTEX/ --
EnDevCo, Inc. (OTC Bulletin Board: ENDE) the Energy Development Company, today announced details of a Farmin agreement covering East Cameron Block 71 located in Federal OCS Waters offshore South Louisiana. The Company has obtained the necessary debt financing for the project and has identified a rig to begin the initial well re-completion designed to establish estimated daily production of 3,000 barrels of oil equivalent (BOE) per day.
EnDevCo has designated Open Choke Energy, LLC as the project Operator who will re-enter the existing East Cameron 71-7 well and attempt to complete the prolific "OC" pay sand. In the event that this re-entry is not successful, EnDevCo has the right to drill a replacement well to test the OC sand within a reasonable timeframe. The Farmin agreement was secured from Noble Energy, Inc., Mariner Energy, Inc., and Entech Enterprises, Inc. and grants EnDevCo an assignment of their operating rights down to a depth of 12,600 feet upon the initial commercial completion of the OC sand. Before payout, Noble, Mariner and Entech will together retain a total 8.33% overriding royalty interest which can be converted at their option to a 25% working interest after payout.
Pursuant to a joint participation agreement between EnDevCo and Open Choke, EnDevCo will earn 1/3 and Open Choke will earn 2/3 of the rights in this farmout. This joint participation agreement also secures EnDevCo's access to the production platforms on East Cameron Block 71/72 Field that are currently producing approximately 20 million cubic feet of gas per day and which are equipped with all necessary production facilities and pipelines to support increased oil and gas production resulting from drilling and completing new wells.
Concurrent with the well recompletion program, the state of the art 3D seismic previously acquired over East Cameron Block 71 will be utilized to identify additional drilling locations to fully realize a possible reserves potential of 2 million BOE.
AMHD: Possible news this week. link..>
Drilling to total depth supposed to complete during the 3rd week of November.
http://www.amelotholdings.com/project/timelines.htm
It seems like there are usally delays when companies are drilling but the share price is still at a reasonable level. The share price moves up fast when buying volume comes in.
IHDRE IHDR Hosts European and Domestic Partners for Final Engineering and Production Conference
PrimeZone Media Network - November 28, 2005 9:01 AM (EDT)
By Staff
TAMPA, Fla., Nov 28, 2005 (PRIMEZONE via COMTEX) -- Internal Hydro International Inc. (OTCBB:IHDR) (www.InternalHydro.com) will be hosting the head of its European partner Cm2, Cm2 production personnel, and related domestic engineers in Tampa for a final unit production conference this week. Also present will be European financial representatives who represent the investment banking interest behind the Cm2 unit production and marketing plan for Europe.
The conference will center on the final plans for unit manufacturing and unit deployment of the new radial cylinder system. Final unit production designs and prototypes will then be taken to Italy under Cm2's control. The final production phase will be taking place under the control of Cm2 in Italy, with the first item units to be shared between domestic U.S. placement and placement in Europe at pre-designated sites in both locations. The energy units utilize the radial system, for low head hydro pressure of 65 psi, for the creation of 30 kilowatts of constantly available energy, through natural and industrial flows.
IHDR had previously announced the partnership with Cm2, a producer and supplier of electrical systems for European utilities and industrial users. Under the joint venture agreement with IHDR, Cm2 expects to place as many as 600 units in the first year, as well as delivery for domestic U.S. distribution. Under the agreement IHDR shall receive approximately 35% of revenue plus approximately $2,500 per unit produced for European use.
About Internal Hydro
Internal Hydro International, Inc. is an alternative energy company that developed a clean energy power system, the Energy Commander Systems, that utilizes a patented technology, using waste water, fluid or gas flow from any source where flow pressure is present, and yet wasted, to create electricity. Internal Hydro has grown into a multi national enterprise with international contracts spanning over three continents. Internal Hydro is well positioned to gain major market share and dominate the niche of hydro energy in the fragmented alternative energy marketplace. For more information, please visit the Company's Web site at www.InternalHydro.com
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: Internal Hydro International, Inc.
Internal Hydro International, Inc.
(813) 231-7122
contact@www.internalhydro.com
BBSE: Barnabus Energy Signs Asian Distribution Agreement for Portable Energy System
Market Wire - November 28, 2005 9:00 AM (EDT)
SOLANA BEACH, CA, Nov 28, 2005 (MARKET WIRE via COMTEX) -- Barnabus Energy, Inc. (OTC BB: BBSE) announced today that it has entered into a distribution agreement with Chinese Consulting Limited (CCL) of Hong Kong. The agreement affords CCL exclusive rights to distribute the SunPak 3P portable solar energy system throughout Asia.
Under the terms of the agreement an initial $250,000 distribution fee against future sales will be paid by CCL to the Company. Barnabus Energy's affiliate, Solar Energy Systems (SRS) will manufacture SunPak 3P products and ship them into the country for use in a wide range of applications wherever electrical grid connections are not available. The product is designed for use with military personnel, police, emergency workers, and all outdoor enthusiasts. SunPak 3P meets the demands of a wide range of environments from battlefield conditions, marine, agricultural and general recreation applications as the system provides more portable power versus any comparable device on the market today.
Chinese Consulting Limited is a company with its own research and development capabilities which may prove beneficial should the product require any adaptations to suit local needs, as well as an experienced and knowledgeable sales force, established distribution capabilities, and numerous links to a wide variety of government agencies, supply-side organizations, import/export groups, and manufacturing firms throughout the region. With the heightened need for energy solutions throughout Asia, SunPak 3P and other photovoltaic products from Barnabus affiliates Solar Roofing Systems and Connect Energy are poised to fulfill a significant portion of the growing electrical demands of the region.
Mr. Justin Kwei, President of Chinese Consulting stated, "Given the explosive growth in the Asian marketplace, and the need for ready access to power in our vast remote locations, we anticipate immediate interest in the Sun Pak 3P. We feel that the process from contract to delivery of first orders can be measured in months, soon after initial agreements are in place."
Barnabus President, Mr. David Saltman stated, "This agreement with CCL paves the way for our entry into the Asian marketplace, and the commensurate opportunities the region offers. CCL has shown that they not only have access to key organizations, but to the individuals that we need to deal with directly in order to fully exploit Sunpak 3P in the region. Furthermore, China has made a multi-billion dollar commitment to developing rooftop photovoltaics and other renewable solutions to meet their explosive energy demands, and we look forward to being their partner in helping them meet this objective."
ABOUT THE COMPANY
Barnabus Energy, Inc. (BBSE) is committed to the development of a diversified energy project portfolio. The Company is currently acquiring commercially viable projects in both conventional and renewable energy sectors. Management has closely aligned itself with key strategic partnerships that will move the Company forward towards future acquisitions and growth. The company's model is a focused approach to the exploitation of targeted, low-risk development opportunities.
GSHF - CEOcast Interviews GreenShift CEO Kevin Kreisler; Company Provides Update on Technology Development
Nov 28, 2005 8:42:00 AM
Copyright Business Wire 2005
MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Nov. 28, 2005--
GreenShift Corporation (OTC Bulletin Board: GSHF) today announced that its chief executive, Kevin Kreisler, was interviewed by CEOcast, the premier source of original and syndicated streaming broadcast interviews of chief executive officers at public and private news-making companies.
In the interview, Kreisler focused on GreenShift's results of operations for the third quarter 2005 and GreenShift's development plans for the balance of 2005, including plans for its portfolio company, Ovation Products Corporation, which recently successfully tested a new production version of its patented water purification technology. Kreisler also discussed GreenShift's plans for its various other innovative green technologies, including its Tornado Generator(TM). The interview is available online at www.ceocast.com.
Tornado Generator(TM) Update
GreenShift's industrial design company, GreenShift Industrial Design Corporation ("GIDC"), is currently testing the next generation of its Tornado Generator(TM) technology. This new generation of the Tornado Generator(TM) technology is designed to reduce trash volumes for small scale commercial and high end residential consumers by more than 90%. GIDC expects to make production units available to selected clients during the first quarter 2006.
Ovation Purifier Update
Ovation Products Corporation, a GreenShift portfolio company, successfully tested a new production version of its patented water purification technology. The new production version, named "Gamma" by Ovation's engineering team, is approximately three feet tall and one foot in diameter - about the size of a fire hydrant. Gamma's output water was tested and achieved the purity of distilled water. Gamma used approximately 54 watt-hours of electricity per gallon of distilled water produced, and Ovation anticipates that the production units will achieve the design goal of 40 watt-hours per gallon, which translates into an electrical energy cost of approximately $0.004 per gallon, or an amount that is less than the cost of tap water in most areas.
Ovation expects to continue to refine Gamma's operation to achieve a 25 gallon per hour benchmark but the results of the Gamma testing were sufficient to justify releasing parts orders for a pilot run of 11 Gamma units. Ovation expects that those pilot units will be assembled during the first half of 2006, and may be available for testing by existing and prospective strategic partners in the second quarter of 2006.
"This is an important development for a extraordinary technology," said Kevin Kreisler, chairman and chief executive officer of GreenShift Corporation. "The Ovation Purifier is designed to seamlessly and cost-effectively integrate with the daily lives of residential consumers. We see this as critical given our view that truly transformational environmental benefits can occur by properly leveraging the incremental contributions of a great many people. We had intended the Ovation Purifier to become one of the cornerstone 'killer-app' green technologies in our portfolio. The Gamma test confirms our expectations and we have ordered one of the pilot Gamma units and plan to order somewhat more in the near term. We are thrilled with the results and the Ovation design team should be commended for their hard work and ingenuity."
No Silver Bullets
"There are no silver bullets when it comes to green technologies," added Kreisler. "Our technology acquisition focus this year has been on what we view to be key technologies that are each important advances in and of themselves, but that are each also capable of stimulating near term cash flows in the right applications in conjunction with our other technologies."
"Take what we want to do with trash for example. Standard separation technologies can separate plastics and metals from trash. Our separation technologies enhance standard techniques by preferentially extracting targeted plastics and metals from the mixed plastic and metal streams. This results in higher quality plastic and metal feeds which are then fed into the Tornado Generator(TM) technology, for cost-effective pulverization into fine powders. The derivative plastic powders can either be sold or, due to their greatly increased surface area, processed further into fuel using a process known as thermal depolymerization. The metal powders can be refined further or sold directly to smelters and other end users. The rest of the trash, which is mostly celluosic biomass, can be processed with the Tornado Generator(TM) technology and turned into biofuels and sold or converted into energy on site. Finally, any wastewaters generated on site can be cleaned with a combination of conventional processes and the Ovation technology."
"We are investing in key technologies at each stage - separation, processing, recycling and/or reuse, and emission controls. These same basic steps are present in most waste processing applications and we are targeting technologies that individually have a lot of potential but that also add value to our portfolio when used in synergistic ways with our other technologies on the right applications."
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development company ("BDC") whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.
GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:
-- Veridium Corporation (OTC Bulletin Board: VRDM);
-- INSEQ Corporation (OTC Bulletin Board: INSQ);
-- GreenWorks Corporation;
-- GreenShift Industrial Design Corporation;
-- Ovation Products Corporation;
-- Tornado Trash Corporation;
-- Mean Green BioFuels Corporation;
-- Ethanol Oil Recovery Systems, LLC;
-- Sterling Planet, Inc.;
-- TerraPass, Inc.;
-- Aerogel Composite, Inc.;
-- Coriolis Energy Corporation;
-- Hugo International Telecom, Inc.; and,
-- TDS (Telemedicine), Inc.
Additional information regarding GreenShift Corporation is available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: GreenShift Corporation
----------------------------------------------
GreenShift Corporation
Jim Grainer
973-398-8183
Fax: 973-398-8037
investorrelations@greenshift.com
www.greenshift.com
or
CEOcast
Inc. for GreenShift Corporation
Ed Lewis
212-732-4300
EFCR EGPI Firecreek, Inc. Retires $250,000 of Debt; President to Retire Debt into Restricted Common Shares
Business Wire - November 28, 2005 7:00 AM (EDT)
SCOTTSDALE, Ariz., Nov 28, 2005 (BUSINESS WIRE) -- EGPI Firecreek, Inc. (OTCBB:EFCR) is pleased to announce the retirement of $250,000 worth of debt by the Company and its wholly owned subsidiary Firecreek Petroleum, Inc. John R. Taylor, Firecreek Petroleum's President and EGPI Firecreek's, Inc. boardmember has converted $250,000 of debt owed to him by the company into restricted common stock. Mr. Taylor agreed to convert the debt into restricted shares at a conversion price of ten cents ($0.10) per share. This represents a debt conversion rate at 100% above the current market bid price for stock that will be restricted under rule 144. Taylor stated, "Many times we are told that if we truly believe in what we are doing, the best way to prove it is by putting our money where our mouth is. I am literally in the trenches every day strategizing to develop and make this company a leader in the niche market of oil field rehabilitation on an international level, and know first hand the progress we are making. Furthermore, I believe the future of Firecreek is clearly dynamic with a tremendous potential for growth. The fact that I believe this to be a good move for me personally as well as a benefit to the Company's financial condition, makes this a clear win/win situation for everyone involved."
EGPI Firecreek, Inc., through its Firecreek unit, is focused on oil production with an emphasis on acquiring existing oil fields with proven reserves. Additionally, the company specializes in the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis.
For more information about EGPI Firecreek Inc. go to:
EGPI Firecreek, Inc.:
www.egpifirecreek.com
Firecreek Petroleum:
www.firecreek.us
InterOilGas:
www.interoilgas.com
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EGPI Firecreek Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek's filings with the Securities and Exchange Commission.
SOURCE: EGPI Firecreek, Inc.
Firecreek Petroleum Inc.
George "Bud" Faulder, 817-732-5949
(Shareholder Relations)
bud@firecreek.us
CDTI - Tests Show New Clean Diesel Technology Provides Major Reductions in Diesel Emissions and Improved Cost Effectiveness
Business Editors
STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 28, 2005--
Company's Fuel-Borne Catalyst in Combination with Various EPA Verified Technologies Provides up to 70 Percent Reduction in Toxic Diesel Emissions.
Clean Diesel Technologies Inc. (Clean Diesel) (OTCBB:CDTI)
(AIM:CDT) (AIM:CDTS), a developer of chemical and technological
solutions to reduce harmful engine emissions, announced today that afurther series of independent tests have demonstrated that the company's proprietary Platinum Plus(R) fuel-borne catalyst (FBC) can help substantially reduce diesel emissions from some of the worst polluting vehicles on the roads today --the older, well-worn fleet vehicles including school buses, and local delivery and refuse trucks.
A series of independent tests conducted at the prominent San Antonio-based Southwest Research Institute showed that the toxic emissions from these vehicles can be reduced, cost effectively, by as much as 70 percent when they are retrofitted with the Platinum Plus FBC coupled with various U.S. Environmental Protection Agency-verified technologies.
Clean Diesel Technologies President James Valentine noted that
retrofitting these vehicles with his company's technology can be done inexpensively. As an example, one specific minimal cost retrofit option at less than $2,000 (by far the lowest cost option commercially available for that level of reduction) reduced diesel emissions in a 1995 engine by 50 percent, Valentine said.
To ensure accuracy and practicality, the recent testing was performed on a 1995 DT466 International engine, considered to be one of the engines most often found used in medium-duty fleet vehicles.
In general, the tests indicate a diesel emission reduction range of 20-70 percent depending on which combination of fuels, aftertreatment devices and crankcase vent filtration were used with the FBC. Even more impressive results -- diesel emission reductions of 95 percent -- were achieved testing the FBC on a newer engine equipped with high-efficiency diesel particulate filter (DPF).
"These tests demonstrate overwhelmingly that there is a cost-effective emission solution for some of the worst polluters on our roadways -- the older school buses and local delivery trucks," Valentine said. "The tests showed that you don't need to buy new trucks to get the benefit of modern diesel emission technology. By retrofitting these vehicles with our fuel-borne catalyst, along with a combination of other devices, substantial reductions in toxic diesel emissions can be achieved. We can, of course, get even better results when our technology is designed into newer vehicles, but the pressing need is to improve emissions from the trucks and buses that are currently in use."
Valentine added that the testing measured average particulate reductions of 20 percent for the FBC-treated ultra-low sulphur diesel fuel (ULSD) to as high as 71 percent for the FBC/ULSD fuel used with a catalyzed wire mesh filter (CWMF) and closed crankcase vent filter(CCVF).
To achieve the 50 percent reduction at a cost of under $2,000, the FBC-treated fuel was used in combination with a diesel oxidation catalyst (DOC) and CCVF.
"The closed crankcase vent filter is a way of capturing 100 percent of engine block emissions that normally go untreated.
Typically, they represent 10 percent or more of total particulate emissions. Logic said our FBC/DOC system verified for 40 percent combined with a 10 percent reduction from the CCVF should give 50 percent reduction, and that is exactly what the testing proved," Valentine said.
On pre-1994 engines, the FBC/DOC combination is verified for up to 50 percent reduction and the FBC/CWMF is verified for 75 percent, so combinations of those verified systems with the CCVF should give 60-85 percent reduction.
"That is a huge reduction from older high-emitting vehicles and it can be achieved with commercially available and field-proven technologies," Valentine said.
The fuel-borne catalyst boosts overall reductions to these high
levels by reducing engine-out emissions and allows more lightly
catalyzed aftertreatment devices to be used. That results in lower cost, better performance and reduced levels of NO2 in the exhaust. NO2 is a strong lung irritant and can be substantially increased by traditional heavily catalyzed exhaust devices.
The FBC can be preblended in fuel at any point in the distribution chain or metered into individual vehicle fuel tanks using low-cost on-board dosing systems. CDT recently announced an agreement with the Fleetguard business unit of Cummins Inc. to blend and distribute the FBC under the Fleetguard name. Fleetguard and CDT have also tested a
new on-board FBC dispensing system that will be replaced at normal maintenance intervals and is expected to be commercially available inearly 2006.
On new engines equipped with high-efficiency DPFs, the FBC can help achieve reductions of up to 95 percent while improving
regeneration, reducing fuel economy penalties, extending cleaning intervals and reducing the cost of the device. Over 400 DPF-equipped vehicles are using the FBC to assist with regeneration and to help avoid plugging with soot at low exhaust temperatures. More than 1,500 other vehicles including on-road and off-road equipment are using the FBC alone or with aftertreatment devices.
For a summary of the 1995 engine test results or to talk with an applications engineer, contact CDT or visit the Web site at http://www.cdti.com.
About Clean Diesel Technologies Inc.
Clean Diesel Technologies Inc. and its U.K. representative office, Clean Diesel International LLC, is a developer of chemical and technological solutions to reduce harmful engine emissions. Clean Diesel Technologies has patented products that reduce emissions from combustion engines while simultaneously improving fuel economy and power. Products include Platinum Plus(R) fuel-borne catalysts (FBC),the Platinum Plus Purifier System and the ARIS(R) 2000 urea-injection systems for selective catalytic reduction of NOx. Platinum Plus and ARIS are registered trademarks of Clean Diesel Technologies Inc. For more information, visit CDT at www.cdti.com or contact the company directly.
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known or unknown risks, including those detailed in the company's filings with the Securities and Exchange Commission, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
KEYWORD: EUROPE NORTH AMERICA CONNECTICUT UNITED KINGDOM UNITED STATES
INDUSTRY KEYWORD: ENERGY OIL/GAS GOVERNMENT GOVERNMENT AGENCIES MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES ENVIRONMENT AUTOMOTIVE FLEET MANAGEMENT PRODUCT/SERVICE
SOURCE: Clean Diesel Technologies Inc.
CONTACT INFORMATION:
Clean Diesel Technologies Inc.
James M. Valentine or David W. Whitwell, 203-327-7050
jvalentine@cdti.com
dwhitwell@cdti.com
or
Allen & Caron Inc
Jesse E. Deal (U.S. Investors), 212-691-8087
jesse@allencaron.com
Len Hall (U.S. Media), 949-474-4300
len@allencaron.com
or
Abchurch Communications
Heather Salmond (U.K. Enquiries), 44 (0) 20 7398 7700
heather.salmond@abchurch-group.com
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