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Westmont Increases Investment in Oil Extraction Technology
Westmont Resources (USOTC:WMNS)
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Today : Tuesday 12 April 2011
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Westmont Resources, Inc. (OTCQB: WMNS) ("Westmont"), today announced that it is in final negotiations to widen its investments into its EcoRecovery4 system ("ER4"). The company previously announced an MOU Agreement with Parker Technology Inc for the inclusion of their Heavy Oil Extraction technology as the core component of ER4.

Westmont is in final negotiations to increase its investment in Parker and its innovative oil extraction method. The company believes ER4 will dramatically increase the production of shale and heavy oil formations over traditional extraction methods and be less harmful to the environment than the most commonly used methods.

CEO Bruce Fischer said, "Westmont plans to grow by up to 35% annually over the next five years, and this increased investment was necessary to build on and further leverage the company's growing reputation."

This leading extraction tool and method meets a growing demand from the heavy oil sector for new technologies to increase production from heavy oil formations. Westmont intends to make significant financial investments in the very near future in this and other cutting edge extraction methods and products, which Westmont also intends to make available to other producers.

President Glenn McQuiston said: "We know how difficult it is in the current climate to invest. Many firms are facing hard times and new technologies may not be high on the list of their priorities, but we believe however that this is precisely the right time to make such investments. ER4 significantly increases the productivity and extraction yields from heavy oil formations over other extraction methods. It allows us to extract heavy oil with less negative environmental impacts and to develop new applications of the same technology to other carbon formations such as natural gas producing shale formations."