Global Resource Corp Receives Formal Request From Leading Petrochemical Company for Oil Drill Cuttings Unit Using Company's Pate
December 14 2006 - 8:53AM
PR Newswire (US)
WEST BERLIN, N.J., Dec. 14 /PRNewswire-FirstCall/ -- Global
Resource Corp (OTC:GBRC) (BULLETIN BOARD: GBRC) is pleased to
announce that the company has received formal notice from one of
the world's leading petrochemical companies to deliver an in-depth
quote and specifications report for the company's oil drill
cuttings units capable of processing 10 tons per hour using their
patent pending technology. GBRC announced publicly yesterday that
the company was 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.(See previous company release:
http://biz.yahoo.com/prnews/061213/clw034.html?.v=74). The
requested in-depth quote and specifications report is the direct
result of a series of successful tests and on-site meetings at the
headquarters of the company in West Berlin, NJ within the last
week. Upon GBRC's successful installation and testing of the unit
capable of processing 10 tons per hour approximately 40 additional
oil drill cuttings units will be required from GBRC. GBRC estimates
the value of this order to exceed $50,000,000. These oil drill
cuttings units, using GBRC's patent pending microwave technology,
will be built by the Equipment Service Parts, Inc. (ESP), the
Virginia based firm specializing in tooling and manufacturing
recently acquired by GBRC. (See related company release:
http://biz.yahoo.com/prnews/061208/clf062.html?.v=34). Frank
Pringle, President of GBRC, stated, "GBRC's sale of its oil drill
cuttings units to the preeminent and one of the world's leading
petrochemical companies, utilizing only one application of the
company's patent pending technology, would be the company's largest
accomplishment to date. It single handedly proves our microwave
technology has been widely accepted at the highest levels of the
oil and gas industry. In addition, our recent acquisition of ESP,
which saves GBRC approximately 40% on the manufacturing of our
patent pending microwave technology units, gives GBRC immediate
cost savings and a tremendous profit margin unseen in our industry
to date." About Global Resource Corporation: Global Resources has a
patent pending process that allows for removal of oil and
alternative petroleum products at very low cost from various
resources, including shale deposits, tar sands, and waste oil
streams with significantly greater yields and lower costs than are
available utilizing existing known technologies. The process uses
specific frequencies of microwave radiation to extract oils and
alternative petroleum products from secondary raw materials, and is
expected to dramatically reduce the cost for oil and gas recovery
from a variety of unconventional hydrocarbon resources. Global
Resources technology will not only be developed to extract oil from
shale, but from depleted oil fields in the US and elsewhere, many
of which still contain more than half of the hydrocarbons
originally in these fields, because the residual hydrocarbons are
too viscous to extract with conventional technology. 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 Corp CONTACT: Global Resource
Corporation, +1-856-767-5661, fax - +1-856-767-5664,
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