Sustainable Environmental Technologies Corp (fka RGBL)

[momentum74]

News! Link
http://ih.advfn.com/p.php?pid=nmona&cb=1255451774&article=39874181&symbol=NB%5ERGBL
RG Global Signs Operating Agreement for Commercial Deep Injection Well
Date : 10/13/2009 @ 12:31PM
Source : PR Newswire
Stock : (RGBL)
Quote : 0.069 0.014 (25.45%) @ 12:37PM


RG Global Signs Operating Agreement for Commercial Deep Injection Well




Completes First Stage of Plan to Utilize Patented Technologies, Generate Positive Cash Flow

UPLAND, Calif., Oct. 13 /PRNewswire-FirstCall/ -- RG Global (OTC Bulletin Board: RGBL) has signed an agreement to operate a 10-acre deep injection well (DIW) that will provide a positive cash flow and establish RG Global as a service partner to major oil and gas producers in Utah.

"RG Global (RGBL.OB) has made tremendous progress in the execution of our plan for a deep injection well in Utah," said Grant King, RG Global CEO and President. "We have recently signed an operating agreement with Pro-Water, LLC to manage and operate the injection well. Using our current technologies, RG Global will convert this well to a greener facility while utilizing the byproducts to increase the projected revenue."

The Utah Injection Well

RG Global intends to develop a facility for the treatment, reuse and disposal of waters produced from oil and gas wells on its well site that is competitively located on a major highway that is easily accessible year round. In this industry, most oil and gas producers pay third parties to dispose of their produced waters in injection wells and evaporation/seepage ponds. RG Global has based its model on strategic utilization, whereby it converts production well water into multiple revenue streams. This includes revenue from water disposal, recycled water for fracking and the separation of oil condensate.

Positive Cash Flow

"This operating agreement is the first step in our reorganization plan to efficiently utilize and implement our available technologies to generate a positive cash flow," said Bob Glaser, RG Global VP Operations. "In addition to the injection well, RG Global is actively pursuing using its patented DynIX technology for water treatment business in Australia to satisfy the increased demand for the processing of produced water from coal seam gas (CSG), also known as coal bed methane (CBM)."

The treatment of CSG produced water in Australia will provide RG Global an even greater opportunity to increase revenues over that of the current CBM opportunities in the states. While historically low natural gas prices in the USA have led to a sharp decline in CBM production, billions of dollars are being invested into CSG development in Australia. RG Global has licensed World Environmental Solutions http://www.wesolutions.com.au/rgga/ to represent its DynIX technology in Australia.

Background on Injection Well Use:

When oil and gas are extracted, large amounts of wastewater are typically brought to the surface. Often saltier than seawater and containing metals or other contaminants, the brine can be damaging to the environment and public health if discharged onto the soil or waterways. By injecting the brine deep underground, Class II wells prevent surface contamination of soil and water. All oil and gas producing states in the U.S. now require the injection of brine into the originating formation or into formations that are similar to those from which it was extracted.

About RG Global

RG Global is a full service environmental water and wastewater treatment engineering and construction company, headquartered in Southern California. Services include innovative technologies; water and wastewater engineering; construction and construction management; start-up, operation and maintenance services; and equipment manufacturing for industrial and municipal sectors. Areas of expertise include water treatment and distribution; wastewater collection, treatment, and disposal/reclamation. Its multi-disciplinary team includes professional and licensed engineers and scientists with extensive experience in current engineering, environmental, and construction technologies. For more information, visit http://www.rgglobal.us/.

Safe Harbor Statement

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements, information that is based on forecasts of future results, estimates of amounts not yet determined, assumptions of management or other risks identified from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company, or persons acting for the Company, are expressly qualified in their entirety by these cautionary statements.

Parties interested in receiving periodic updates on RG Global via email should send an email with a subject line of "RGBL Email Update Request" with their first and last name, company affiliation and phone number to . For other information, please email or call 949 888 9500.

http://www.newscom.com/cgi-bin/prnh/20050118/LATU069LOGO

http://photoarchive.ap.org/

DATASOURCE: RG Global


CONTACT: Keith Morlock of RG Global, [phone],


Web Site: http://www.rgglobal.us/



<< Back