Planet Resource Recovery, Inc. Signs International Distributor to Market PetroLuxus(TM) Products in Nigeria
June 17 2008 - 7:00AM
Business Wire
Planet Resource Recovery, Inc. (Pink Sheets:PRRY) is pleased to
announce the Company has executed a Distributor Agreement to market
PetroLuxus(TM) products in the African Nation of Nigeria. Kobal
Global (Nig) Ltd. will market PetroLuxus(TM) chemical solutions for
tank cleaning, well bore and production string cleanup and enhanced
oil recovery/well stimulation to the oil rich nation of Nigeria.
Kobal Global (Nig) Ltd. will make use of its many associations and
contacts to establish a productive market environment for
PetroLuxus(TM) products. Planet Resource anticipates use of
PetroLuxus(TM) products in Nigeria will produce similar positive
results it has realized in the United States. Through the use of
�WC-100� well bore and production string cleanup and �MMMF�
formation stimulation and enhanced oil recovery products, operators
in Nigeria will experience renewed life in old production
formations. Nigeria is the largest oil producer in Africa, the
eleventh largest producer of crude oil in the world and the world�s
eight largest exporter of crude oil and the country is a major oil
exporter to the United States with 42 percent of its crude exports
going to the United States in 2006. According to Oil and Gas
Journal, Nigeria had 36.2 billion barrels of proven oil reserves as
of January 2007 and the Nigerian government plans to expand its
proven reserves to 40 billion barrels by 2010. About Planet
Resource Recovery, Inc. Planet Resource Recovery, Inc. is the
developer, manufacturer and marketer of the PetroLuxus(TM) family
of products, a proprietary environmentally friendly chemical
compound that dislodges oil in practically all natural and man-made
environments. The PetroLuxus(TM) family of products are effective
and efficient solutions for the remediation and recovery of
petroleum-based products. PetroLuxus(TM) applications include
Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm
cleaning, marine ship cleaning, remediation of oil sludge pits,
treatment of raw fuel feedstocks, waste oil segregation and
biodiesel, to name a few. Through the acquisition and formation of
wholly owned subsidiaries, Planet Resource Recovery, Inc. deploys
the PetroLuxus(TM) products. Oil Recovery Ventures, Inc. deploys
PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery
market. For an audio/visual demonstration of PetroLuxus(TM), click
on the link http://www.planetresource.net/index-21.html. For more
information visit: http://www.planetresource.net or
http://www.petroluxus.com. Safe Harbor Statement Certain statements
in this release are "forward-looking" statements as defined in the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to numerous risks and uncertainties. Actual results may
vary significantly from the results expressed or implied in such
statements. Factors that could cause actual results to materially
differ from forward-looking statements include, but are not limited
to, the Company's ability to meet the terms and conditions required
to obtain its project financing, risks and delays associated with
product development, risk of market acceptance of new products,
risk of technology or product obsolescence, competitive risks,
reliance on development partners and the need for additional
capital.
Planet Resource Recovery (PK) (USOTC:PRRY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Planet Resource Recovery (PK) (USOTC:PRRY)
Historical Stock Chart
From Jul 2023 to Jul 2024