Gulf Resources Announces Receipt of Equipment for Natural Gas Drilling
July 12 2018 - 8:30AM
Gulf Resources, Inc. (NASDAQ:GURE) ("Gulf Resources" or the
"Company"), a manufacturer of bromine, crude salt, specialty
chemical products, and natural gas in China, today announced that
it has received the equipment it ordered for its natural gas
project. It is completing the installation and will soon commence
testing.
The first major piece of equipment is the natural gas separator.
This equipment separates dust, dirt, sand and pipe scale, water,
high octane value hydrocarbon, etc. The gas collects at
the top of the natural gas separator where it is removed
and decompressed. Separators often have to be customized to treat
the specialized conditions of each drilling area.
The second major piece of equipment is the water jacket furnace.
It maintains an even temperature, while saving significant amounts
of energy and reducing emissions. This equipment can heat up the
natural gas to ensure the normal operation of the following
equipment.
The initial installation of these equipment pictures can be
found on the company
website:http://www.gulfresourcesinc.com/corporate-ppt.html
The installation, including providing piping and electricity
will be completed in July. The company hopes to begin testing in
August and trial production in September.
Mr. Liu Xiaobin, the CEO of Gulf Resources, stated, “We are very
pleased to have received the new customized equipment and begun the
installation. We remain strongly committed to our natural gas
project. The new environmental regulations of the Chinese
government may lead to a shortage of natural gas in China. We
continue to believe that despite the delays, this project will end
up being profitable for our company.”
About Gulf Resources, Inc. Gulf Resources, Inc.
operates through four wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical
Industry Co., Limited ("SYCI"), and Daying County Haoyuan Chemical
Company Limited (“DCHC”). The company believes that it is one of
the largest producers of bromine in China. Elemental Bromine is
used to manufacture a wide variety of compounds utilized in
industry and agriculture. Through SYCI, the company
manufactures chemical products utilized in a variety of
applications, including oil and gas field explorations and
papermaking chemical agents, and materials for human and animal
antibiotics. DCHC was established to further explore and develop
natural gas and brine resources (including bromine and crude salt)
in China. For more information,
visit www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information about Gulf Resources and its subsidiaries' business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, future product development and production
capabilities, shipments to end customers, market acceptance of new
and existing products, additional competition from existing and new
competitors for bromine and other oilfield and power production
chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its
control. All forward-looking statements are expressly qualified in
their entirety by this Cautionary Statement and the risk factors
detailed in the company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this
release.CONTACT: Gulf Resources, Inc.
Web: http://www.gulfresourcesinc.com
Director of Investor Relations
Helen Xu (Haiyan Xu) beishengrong@vip.163.com
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