Market Pulse Breaking News Alert for Tuesday, July 15, 2008: PRRY - Planet Resource Recovery Provides Positive Additional Inform
July 15 2008 - 8:30AM
Marketwired
ATLANTA, GA , Canadian Solar Inc. (NASDAQ: CSIQ), Western
Standard Energy Corp. (OTCBB: WSEG) and Apple Inc. (NASDAQ:
AAPL).
Investors need to be watching Planet Resource Recovery, Inc.
(PINKSHEETS: PRRY) this AM! Planet Resource Recovery is the
developer and manufacturer of the PetroLuxus(TM) family of chemical
products. PetroLuxus(TM) is a proprietary, environmentally friendly
chemical that dislodges hydrocarbons (oil) in practically all
natural and man-made environments. PetroLuxus(TM) products can be
applied to multiple hydrocarbon recovery and production enhancement
applications including: separation and collection of hydrocarbons
in contaminated soil remediation, bio-diesel feedstock treatment to
promote separation of water and particulates, treatment for more
efficient separation and recovery of methanol, fatty acids and
glycerin in bio-diesel production, treatment of rheospectic
compounds produced from the use of oil based drilling muds to
recovery oil and reduce hazardous waste, downhole well stimulation
for enhancing oil production in marginal producing wells, cost
effective and environmentally friendly recovery of oil from Utah
tar sands, cost effective cleaning of storage tank bottoms and oil
recovery, oil recovery and remediation of sludge and tailing ponds,
treatment of heavy oil from removal of water and adulterates with
improvement to flow characteristics, to name a few. Through the
acquisition and formation of wholly-owned subsidiaries, PRRY
deploys the PetroLuxus(TM) products. RADA Technologies, Inc.
designs and engineers new mechanical processing equipment
proprietary to PetroLuxus(TM) products while simultaneously
providing fuel inventory management services reducing loss to
increase gain for its customers. Oil Recovery Ventures, LLC deploys
PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery
market. PRRY commenced working with an AMEX listed oil production
company in January 2008, with the goal to treat a series of wells
to increase oil production with its downhole treatment product --
PetroLuxus(TM) MMMF. The company's wells are in the Austin Chalk
formation in Texas. Oil production at the primary treated well for
February and March 2008 has been significantly improved with over
285 and 287 barrels, respectfully, of oil for each month, and
through April 21, 2008 the well has continued to average about ten
barrels of oil per day. PRRY recently announced the collaboration
between the company and Affordable Bio Feedstock of Florida aimed
at developing a process utilizing PetroLuxus(TM) products for the
separation and recovery of oils from waste trap grease materials
rendering an affordable, marketable grease feedstock for biodiesel
producers. Affordable Bio Feedstock has purchase commitments from
Biodiesel producers approaching 50 million gallons of raw feedstock
annually once the technology is developed and deployed. The
National Renewable Energy Lab estimates the US generates 495
million gallons of waste grease trap material yearly -- which does
not include millions of gallons of waste grease captured at
municipal water treatment plants. This quantity of raw feedstock
represents an estimated $25 million per year revenue stream for
Planet Resource Recovery. Planet Resource Recovery's pilot
manufacturing plant is operational with PetroLuxus(TM) ready for
commercialization. PRRY is dedicated to maximizing the recovery and
production of hydrocarbon resources reducing America's dependency
on foreign oil and minimizing the environmental impact of petroleum
based hazardous waste through ecologically responsible and
profitable remediation efforts benefiting clients, associates and
investors. Sales through a dedicated distributor network, design
and construction of specific applications processes, and
participation in joint ventures for enhanced profitability ensure a
strategy of introduction of the PetroLuxus(TM) family of products
to the widest audience. Planet Resource Recovery is poised to
become a significant player in the petrochemical/oil services
industry! PRRY just had excellent news out in a press release
before today's opening bell announcing treatments with
PetroLuxus(TM) on a series of wells in central Texas continue to
provide positive results after four months! Investors should be
watching this one closely!
Planet Resource Recovery, Inc. (PINKSHEETS: PRRY), is pleased to
provide new, additional information regarding well treatment
results. Treatments with PetroLuxus(TM) on a series of wells in
central Texas continue to provide positive results after four
months. These treatments were performed on a variety of wells
including Austin Chalk formation with fracturing and other
formations with matrix porosity. The wells included vertical and
horizontal lateral wells in the Austin Chalk and vertical wells of
varying depths in more common matrix porosity wells and the
production varied in type and quality of oil, as well as, produced
water.
The wells selected for treatment, although different in
configuration, depth, and formation type, had common issues that
resulted in reduced production. All of the wells had suffered a
decline in production due to suspected corrosion and fouling that
subsequently contributed to increased maintenance and downtime from
equipment failure. Following treatment, all of the wells have
benefited. Production levels have increased either directly or as
the result of less downtime and fewer mechanical problems in all
wells.
Operator analysis of the results are continuing but significant
benefits have been observed. PetroLuxus(TM) has shown particular
benefit to treating chalk formation wells with horizontal laterals
and typical vertical wells with good porosity and permeability that
are suffering from near well bore contamination and equipment
fouling. This is expected, as PetroLuxus(TM) is a contact chemical
and provides benefit from its ability to penetrate fractures and
existing permeability and porosity to open channels. Another common
factor is suspected for some improvements; conversion of corrosive
H2S into iron sulfide and reduction of corrosion. Additional
potential PetroLuxus(TM) benefits include drag reduction, scale
reduction, and acid reduction.
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.
Stocks in the news and acting well as of late include: Canadian
Solar Inc. (NASDAQ: CSIQ), Western Standard Energy Corp. (OTCBB:
WSEG) and Apple Inc. (NASDAQ: AAPL).
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stock, available for public trading as follows: Planet Resource
Recovery, Inc. compensation from a third party shareholder: three
hundred thousand free trading shares of stock in Planet Resource
Recovery, Inc., already received from a third party shareholder. In
addition, MP has pending one hundred thousand free trading shares
of stock in Planet Resource Recovery, Inc. from a third party
shareholder. To date, MP has sold two hundred thousand shares of
stock in Planet Resource Recovery, Inc. for proceeds totaling forty
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