Replies to post #11499 on James Monroe Capital Corp (JMON)

[jackfree]

SPRL LOI w/ PRRY Remediation of Oil Sludge Russian Federation
Thursday June 7, 3:55 pm ET

Here is Sams side of it. Some good details I hope he lets us know soon that they have the sites up and running. JMCP must be the partners mentioned. I think Frank Love is letting Sam do the talking until the Royal Trust is a done deal.

TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced that it has signed a letter of intent with Planet Resource Recovery, Inc. (Pink Sheets:PRRY - News), developer, manufacturer and marketer of the PetroLuxus(TM) family of products, to negotiate a contract for the deployment of PetroLuxus(TM) and its proprietary processing technology in the Russian Federation and former CIS countries. The first step will be to design and build a prototype plant that Strat and its partners will test at one or more locations it is securing, and then build a full scale plant that could process approximately 3,700 bbls per day.

During a visit to the Planet Resource Recovery plant, where the application of some its technologies were demonstrated, Sam Hyams, President of Strat stated "this solution is what we have been searching for, as it can treat the most difficult to separate oil sludge." Strat is also pursuing more conventional technologies to process more pure oil waste, at sites it is currently negotiating to secure. More details of the agreement and relationship with Planet Resource Recovery will be disclosed once agreements have been signed.