Well Power Inc. (fka WPWR)

[PRONEW]

WPWR

http://www.investorideas.com/news/2015/energy/06161.asp

June 30, 2015
http://blog.qualitystocks.net/well-power-inc-wpwr/well-power-inc-wpwr-bolstering-its-operations/

"Well Power’s attention is firmly on the ways it can help curb the flaring of wasted gas, a persistent and growing problem in the United States. To contribute in this area, the company gained an exclusive license to distribute ME Resources’ micro refinery unit (MRU) years ago and, since then, has been actively promoting this flare-reducing technology to potential investors and other interested parties.

As part of Well Power’s marketing efforts, companies involved in oil and gas production are invited to explore partnership opportunities with Well Power and learn more about the MRU which, once developed, is expected to process and transform wasted raw natural gas into electric power or engineered fuels. Although there are still some operational matters and regulatory changes to study, the successful development and deployment of a mobile, modular micro-refinery unit should create many lucrative opportunities for Well Power and ME Resources.

In addition, Well Power is bringing in new blood to continue to fuel its operations. Early this year, the company expanded its board of directors to include Robert V. Shields, an entrepreneur, professional engineer and petroleum industry veteran. Mr. Shields has been a professional engineer for more than 30 years. His petroleum industry experience is widespread and includes expertise in the areas of drilling, production operations, economic evaluations, identifying and securing international exploration mineral leases as well as raising equity capital from institutional investors in the United States and overseas.

Mr. Shields is a welcome addition to the Well Power team. His early years of employment include tenures with major oil and gas companies including Occidental International. He has extensive cross-cultural management experience as manager of drilling/production operations in Libya, Philippines, Brunei (offshore), the continental USA, Western Canada and the Canadian Arctic. Over 20 years, he also founded and became an owner/partner in four successful private oil companies which have collectively spent $C160 million and accrued a total exit value of approximately $C760 million. Additionally, in 2000, he co-discovered the largest conventional natural gas find in Canada, the Ladyfern field located in NE British Columbia. His combined experience in capital raising, engineering and entrepreneurship within the oil and gas industry will contribute vital insight to Well Power’s corporate goals and mission."



June 16, 2015 (www.investorideas.com newswire) "Houston-based Well Power is targeting the oil and gas industry with a particular focus on commercializing a patented solution to convert flared, shut-in and stranded gas into clean power and engineered fuels. Using this mobile, high-yield technology licensed from ME Resources Corp. (“MEC”), Well Power aims to reduce waste emission and capitalize on this niche market of the oil and gas industry.

Each year, billions of cubic meters of natural gas are flared at oil production sites all over the world. According to the World Bank Group, gas flaring not only wastes a valuable energy resource, it also contributes to climate change by releasing more than 300 million tons of CO2 into the atmosphere.

In April, The World Bank announced that chief executives from major oil companies, including Royal Dutch Shell (NYSE:RDS-A, NYSE:RDS-B) and Statoil CEO (NYSE:STO), were convening with senior government officials from several oil-producing countries to commit to ending routine gas flaring. Already endorsed by nine countries, 10 oil companies and a handful of development institutions, United Nations Secretary-General Ban Ki-moon and World Bank Group President Jim Yong Kim concurrently launched the "Zero Routine Flaring by 2030" initiative to end routine gas flaring at oil production sites by the year 2030.

"Gas flaring is a visual reminder that we are wastefully sending CO2 into the atmosphere," Jim Yong Kim stated in an earlier news release. "We can do something about this. Together we can take concrete action to end flaring and to use this valuable natural resource to light the darkness for those without electricity."

Well Power is gearing up to participate in this broader movement through the commercialization of the licensed Micro-Refinery Unit (MRU), which processes raw natural gas into green fuel (such as diluents, drop-in diesel and pipeline quality synthetic crude) and clean power. MEC’s solution simultaneously reduces CO2 emissions while creating revenue streams with minimal capital expenditure.

Well Power has secured the licensing rights to Texas with the first right of refusal on the other U.S. states, such as North Dakota, where gas flaring is a significant and concern. The company plans to be able to provide its technology with full-service engineering, design, construction, modular fabrication, maintenance and construction management services to clients in the upstream areas of exploration and production.

In addition, Well Power will offer consulting services, process assessments, facility appraisals, feasibility studies, technology evaluations, project finance structuring and support, and multi-client subscription services.

Leveraging the potential of the MRUs, Well Power is aligned with the Zero Routine Flaring by 2030 initiative and offers the opportunity to create value from a wasted resource while enabling wider access to energy, improved environmental conditions, and economic development for local populations."

For more information, visit www.wellpowerinc.com