EnviroXtract, Inc. Announces That It Has Executed a Memorandum of Understanding With Extractive Technologies, Inc. to Acquire a License for Canadian Oil Sands Extraction and Upgrading
EnviroXtract, Inc. Announces That It Has Executed a Memorandum of Understanding With Extractive Technologies, Inc. to Acquire a License for Canadian Oil Sands Extraction and Upgrading
EDMOND, Okla., Feb. 1, 2010 (GLOBE NEWSWIRE) -- EnviroXtract, Inc. (Pink Sheets: EVXA) announced today that Management has executed a Memorandum of Understanding with Extractive Technologies, Inc. to acquire a license for Canadian oil sands extraction and upgrading. Concurrent with this acquisition, the Company is also developing a plan to become a fully-reporting company and return to the OTCBB.
Extractive Technologies specializes in proprietary ‘green’ energy solutions. Its oil technology applications utilize a unique coupling of electromagnetic energy and electro-static energy in a vacuum environment. An energy field intensely excites the oil feedstock at the molecular level, releasing any chemical bonds and breaking down molecular compounds to their elemental state. In short, the technology is capable of efficiently extracting bitumen from oil sands while simultaneously performing upgrading, hydro-treating, and partial refining of the bitumen product. The company is not aware of any other technology capable of achieving similar results.
Extracts 99.9% of oil from oil sands feedstock
No water is used in extracting bitumen from oil sands feedstock
No chemical discharge or oil-polluted tailings ponds are created
No natural gas or other fossil fuels are used in oil sands extraction or upgrading
Carbon gases produced during processing can be captured in the ‘closed’ system
Electrical power consumption is extremely low
Tailings are clean and dry, ready for reintroduction into the environment
Sulfur and other contaminants are significantly reduced during processing
Bitumen is significantly upgraded during the extraction process
CANADIAN OIL SANDS
Oil sands, also known as tar sands, or extra heavy oil, are a type of bitumen deposit. The sands are naturally occurring mixtures of sand or clay, water and an extremely dense and viscous form of petroleum called bitumen. They are found in large amounts in many countries throughout the world, but are found in extremely large quantities in Canada and Venezuela.
Oil sands reserves have recently been considered to be part of the world's oil reserves, as higher oil prices and new technology enable them to be profitably extracted and upgraded to usable products. These oil sands may represent as much as two-thirds of the world's total petroleum resource, with at least 1.7 trillion barrels in the Canadian Athabasca Oil Sands.
Canada is the largest supplier of crude oil and refined products to the United States, supplying about 20% of total U.S. imports. Canada exports more oil and oil products to the U.S. than it consumes itself. In 2006, bitumen production averaged 1.25 million barrels per day through 81 oil sands projects, representing 47% of total Canadian petroleum production. This proportion is expected to increase as bitumen production grows while conventional oil production declines.
The environmental challenges facing Canada’s oil sands projects are enormous. More than 80 kilograms of greenhouse gases are released into the atmosphere for every barrel of bitumen produced from oil sands. The development of Canada’s oil sands is the single largest contributor to greenhouse gas emissions growth in Canada.
Current oil sands extraction methods have created hundreds of thousands of acres of oil-polluted tailings ponds which have altered the pristine landscape and replaced much of the muskeg and boreal forests of Alberta. For every barrel of bitumen that is produced from oil sands, 2 to 4 barrels of waste water are removed from Alberta’s rivers. Tailings ponds holding wastewater from mining operations are so extensive that they can be seen from space on regional-scale satellite photos. Many who have visited the oil sands region of Canada call this an environmental disaster.
Solutions for many of these issues may exist with Extractive Technologies’ applications
