Hybrid Energy Boosts Income Projections and Asset Valuation of Heavy Oil LOI
July 28 2010 - 12:02PM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today
that is has revised upwards the income potential and market
valuation of the Heavy Oil Extraction technologies to be acquired
from Visalo Energy.
The Heavy Oil Industry, currently at $155 billion per year
business, is set for substantial increases based on dwindling
supply and increased demand. The recent Deep Water drilling ban is
further putting pressure on the demand for Heavy Oil Extraction
solutions.
Worldwide, the Heavy Oil industry is a $155 billion-a-year
business, and is expected to continue growing as oil demand
increases and supplies dwindle.
There is 300 years worth of heavy oil at the current rate of
consumption and 60% of the US oil reserves is Heavy Oil, just
waiting to be extracted. The known US Heavy Oil reserves are
estimated to be 100 - 180 billion barrels. Refineries from all
around the world are retooling their facilities towards heavy oil
refining.
Visalo's technology is a unique proprietary production and
extraction method that dramatically increases recovery rates to 90%
or higher at substantially lower entry costs in the heavy oil
production industry. The Company believes its Heavy Oil Extraction
technology will set the standard in a market with no clear cut
extraction/production standard.
The Company believes Heavy Oil is an up and coming energy
resource aggressively being sought as the world's energy demand
increases. As technology continues to improve, this once costly
energy source is quickly becoming a more viable alternative.
The Company earns revenues from the extraction and recovery of
'heavy oil' reserves from existing wells not in active production.
The Company licenses the technology to joint venture recovery
projects. Additionally, the technology and processes will
dramatically increase the production potential and market valuation
of the Company's current gas and oil production assets.
The LOI calls for the Company to acquire the technology asset
and International Licensing rights for distribution and operations,
as well as to Joint Venture with Visalo Energy Inc. regarding
further technological development. The company will locate oil
properties for joint venture production arrangements.
This Heavy Oil Extraction acquisition, together with the Solar
Energy Acquisition and Development Project and the addition of
technologies to increase the Company's production efficiencies and
profitability, have increased the Company's revenue projections and
shareholder value.
The Company is completing due diligence process and anticipates
closing the transaction on or before October 15, 2010. Shareholders
can expect timely updates as the company completes its due
diligence and integrates these technologies and operations into its
expanding portfolio of Oil & Gas producing properties, New
Energy technologies, Intellectual Property assets, and operations
in the Clean Energy, Energy Smart Technologies and Carbon Capture
& Storage sectors of the Energy Sector.
The Company's foundation-building Phase I strategic plan called
for traditional and proven fuel production acquisitions to
establish revenues and assets. Building on its success, the Company
launched Phase II of its growth strategy and began its transition
to alternative and renewable energy and technology revenue models.
the Company intends to diversify its holdings into forward thinking
energy production and technology and divest its direct operation of
production fields and focus instead on licensing, joint-ventures
and distribution.
The company's New Energy Initiative calls for the aggressive
investment in, and acquisition and development of nascent 'New
Energy' technologies, Intellectual Property assets, and operations
in the Clean Energy, Energy Smart Technologies and Carbon Capture
& Storage sectors of the Energy Sector.
The company is assessing the acquisition of several new assets,
operations and technologies and encourages further technology
submittals and developmental joint ventures through the Merger
& Acquisition portal at www.HybridEnergyHoldings.com
About Hybrid Energy Holdings
Hybrid Energy Holdings (HEH) acquires and operates profitable
energy companies with strong historical cash-flow and sustainable
profitability. The Company acquires sector-specific technology and
assets as part of its Phase II Clean Energy Initiative. HEH's prior
foundation building acquisitions focused primarily on traditional
and proven fuel production has transitioned its growth strategy to
adding the latest in energy conservation, reclamation, and power
co-generation technologies. HEH may acquire nascent energy
technology or rights as portfolio enhancing assets. HEH's primary
business strategy is the acquisition of diverse, profitable energy
related assets that provide synergistic profits and revenue
enhancements across all portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement
This release contains statements or projections regarding future
performance that are forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties. The company's filings contain various RISK
FACTORS (and are incorporated on the Company's website "Investors"
section by reference) and should be read before any investment
decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775)
996-7330 info@HybridEnergyHoldings.com
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