Global Resources Announces Breakthrough in Final Test Results of Company's Technology on Oil Drill Cuttings; Results Confirmed b
December 13 2006 - 9:03AM
PR Newswire (US)
WEST BERLIN, N.J., Dec. 13 /PRNewswire-FirstCall/ -- Global
Resources (OTC:GBRC) (BULLETIN BOARD: GBRC) is pleased to announce
that the results from its third and final round of testing of its
patent pending microwave technology on oil drill cuttings have been
completed. The results show the Company's technology removed all
but 0.01% of the contaminants from oil drill cuttings. According to
leading industry sources, no other technology has been able to
reduce the contaminants in oil drill cuttings to this level to
date. GBRC's results have been confirmed by the Intertek Group
(FTSE: ITRK) (http://www.intertek.com/), a FTSE 250 company, that
provides global testing, inspection, and certification services to
a wide range of global industries as well as an extensive range of
exploration and production petroleum solutions to the oil and gas
industry. Their services include exploration and production,
oilfield chemistry, process measurement, production and
geochemistry, hydrocarbon allocation and evaluation. Intertek
Group's extensive network of 17,400 employees in 910 offices and
laboratories spanning 110 countries across the world support such
clients as; BASF * Bechtel * BP * CAPA * Cargill * Chevron Texaco *
Cisco * Citgo * Conoco Phillips * Dow Chemical * Ericsson * Exxon
Mobil * Fluor * General Electric * Glencore * Imperial Oil * Kraft
* Microsoft * Petrobas * Pioneer * PPT Oil * Samsung * Sasol *
Sharp * Shell * Sunoco * Tesco * Unilever * Valero * Wal-Mart. The
Norwegian Oil Industry Association (OLF) recently commissioned
Anderson et al. to provide an examination of the disposal of oil
drill cuttings in the Central and Northern parts of the North Sea.
The scope of the examination encompassed the investigation into
various methods of handling oil drill cuttings in connection with
field abandonment and included retrieval technology. At 1.0%, the
North Sea has one of the most stringent standards for disposal.
GBRC's patent pending microwave technology can reduce the
containments to 0.01%. By utilizing GBRC's technology the
containments can be disposed of on-site, which could result in
significant savings estimated at $300 to $600 per ton to the oil
drilling industry and in the North Sea area alone could have saved
the oil industry an estimated $500,000,000 in on-site disposal of
oil cuttings related costs. GBRC is also pleased to announce today
that they are in discussions for the sale of microwave units using
their patent pending technology capable of extracting all but 0.01%
containments of oil drill cuttings with two of the world's leading
petrochemical companies. Further details will be forthcoming. In
conclusion Frank Pringle stated: "That in their lab in West Berlin,
New Jersey that they have taken the oil cuttings and heated them to
a temperature over a period of seven minutes and turned the
cuttings in to glass. To the companies knowledge this has not been
done previously by any other technology, in this amount of time or
with the limited amount of energy used by patent pending microwave
their unit." Contact: Global Resource Corporation Phone: (856)
767-5661 Fax: (856) 767-5664 This news release contains
forward-looking statements regarding Global Resource's business
strategies and future plans of operation. The forward- looking
statements contained in this news release speak only as of the date
hereof and Global Resource disclaims any obligation to provide
public updates, revisions or amendments to any forward-looking
statements made herein to reflect changes in Global Resource's
expectations or future events. DATASOURCE: Global Resource
Corporation CONTACT: Global Resource Corporation, +1-856-767-5661,
or Fax, +1-856-767-5664, or Web site: http://www.intertek.com/
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