Earth Search Engaged in Negotiations to Acquire General Synfuels International
April 24 2007 - 7:00AM
Business Wire
Earth Search Sciences, Inc., (OTCBB:ESSE), today announced
negotiations are underway for the acquisition of a private company,
General Synfuels International, Inc. General Synfuels
International, Inc. has been undertaking the research and
development of a new method to recover the oil and gas carried
within oil shale. After many years of testing, a patent was
assigned to the company in 2006. The method of recovery of the
hydrocarbons is based on an environmentally acceptable gasification
process. Earth Search�s subsidiary company, Petro Probe, Inc., has
been examining the process through a license and has completed due
diligence to indicate the value of the process may exceed all
expectations. For further information on Petro Probe�s efforts, see
http://www.petroprobe.com. According to Larry F. Vance, chairman of
Earth Search Sciences, the acquisition of General Synfuels
International will position ESSI to attract the capital and
partnerships necessary to build the planned test gasification
facility. "This acquisition augments Earth Search�s strategic focus
to use new technology in the environmentally-acceptable
exploration, discovery and development of the Earth�s economic
resources," said Vance. About Earth Search Sciences Earth Search
Sciences, Inc.'s (OTCBB:ESSE) revolutionary hyperspectral
technology provides the ability to accurately read the chemical
properties of surface substances from great altitudes and produce
easily interpreted maps allowing the user to identify specific
minerals and substances on the surface of the earth by their
diagnostic reflectance patterns. Ultimately, this remote sensing
capability identifies a greater number of exploration targets
quickly and economically, monitors the environmental situation, and
improves the probability of finding anomalies. Older, more
conventional methods would take decades to cover the same area, and
at a much greater cost. Within the realm of exploration, remote
sensing does not replace the need for geological knowledge,
geochemistry, geophysics, seismic, drilling, etc., which are some
of the more conventional tools used for exploration. This news
release includes forward-looking statements that involve a number
of risks and uncertainties. The information reflects numerous
assumptions as to industry performance, general business and
economic conditions, regulatory and legal requirements, taxes and
other matters, many of which are beyond the control of the company.
Similarly, this information assumes certain future business
decisions that are subject to change. There can be no assurance
that the results predicted here will be realized. Actual results
may vary from those represented, and those variations may be
material.
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