BlueFire Prepares to Ship Premium Steel Bits to Asian Client

Asian business stimulates marketing efforts in the region

BlueFire Equipment Corporation (OTCQB: BLFR) is preparing units of its newly developed premium steel bit line for shipment to a Chinese client as it solicits new business in the Asian oil and gas market. BlueFire is attracting international attention as it cultivates its presence in China.

According to a recent CNN report, Chinese demand for petroleum will be a key factor in the global energy outlook for 2014 and beyond. China will seek more domestic hydrocarbons, including unconventional resources such as shale gas, tight oil and coal-bed methane, intensifying the need for superior drilling technology.

BlueFire Chairman and CEO William A. Blackwell said, “Our industry relies on high-quality, standardized equipment to meet the world’s growing demands. Our new technology is expected to enhance drilling performance, reduce costs and increase efficiency at each site.” He added, “Feedback from operators using BlueFire’s original bit line in Oklahoma and Wyoming reveals a savings of 3 to 4 days of drilling time on 6,500 foot wells, with the potential of saving operators millions of dollars.”

The redesigned high performance bits will further increase the advantages of BlueFire’s drilling technology, featuring premium cutters with enhanced calibrations to the bit body. The company anticipates the premium bit line will generate a new revenue stream, especially in the international arena where outdated technology can be easily replaced.

Details about BlueFire Equipment Corporation and information about obtaining a quote are available at www.bluefireequipment.com.

About BlueFire Equipment Corporation (OTCQB: BLFR)

BlueFire Equipment Corporation designs and manufactures proprietary drilling technologies for use in the exploration and production of oil and gas in the United States and in international markets. It sells and leases various sizes of polycrystalline diamond cutter (PDC) drill bits to drilling contractors and oil and gas companies. BlueFire Equipment Corporation was founded in 2008 and is headquartered in Houston, Texas, where other major exploration and production companies have a presence, including ExxonMobil, BP and ConocoPhillips.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.

BlueFire Equipment CorporationWilliam Blackwell, 866-713-3700

BlueFire Equipment (PK) (USOTC:BLFR)
Historical Stock Chart
From Mar 2024 to Apr 2024