Planet Resource Recovery, Inc. Enters Into Service Agreement With High Plains Oil, LLC to Treat Oil Wells With PetroLuxus(TM)
July 20 2011 - 9:00AM
Marketwired
Planet Resource Recovery, Inc. (PINKSHEETS: PRRY) is pleased to
announce that it has entered into a Service Agreement with High
Plains Oil, LLC to treat newly acquired oil wells in its portfolio
with PetroLuxus. The Service Agreement executed on July 19, 2011
calls for Planet to evaluate, consult and perform PetroLuxus
treatments on various assets acquired by High Plains Oil, LLC over
the next 12 months.
Mr. Jeff Johnson, Managing Member of High Plains Oil, LLC,
stated, "For the past three months I have worked with Planet
Resource Recovery staff, visited their production facilities and
researched the results of various oil wells which were treated by
PetroLuxus. The results have been impressive. As High Plains Oil
acquires additional oil assets, PetroLuxus can be meaningful in
assisting High Plains to realize many benefits including:
1. Higher daily oil production 2. Reduced maintenance costs and
3. Reducing overall downtime
If successful, PetroLuxus has the potential to be a 'game
changer' in the oil and gas industry."
"This service agreement represents a significant opportunity for
Planet Resource to showcase the effects of PetroLuxus on a larger
scale and numerous formations. We look forward to working with Jeff
and his team at High Plains Oil," stated Enrique M. Salinas,
President and CEO of Planet.
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and
marketer of PetroLuxus™, a Green Technology that maximizes
hydrocarbon recovery in the Oil & Gas industry. Documented well
history case studies indicate deployment of PetroLuxus technologies
has helped Oil & Gas Operators reduce maintenance costs,
decrease downtime and increase oil recovery. For more information
visit: www.planetresource.net.
About High Plains Oil, LLC
High Plains Oil (www.highplainsoil.com) is a newly formed E
& P company based in Fort Worth, Texas. High Plains Oil mainly
focus' on acquiring oil producing assets with upside potential
through developmental drilling and production improvements with
technologies such as PetroLuxus. High Pains Oil assets include
non-operated working interests, over-riding royalty interests and
mineral interests throughout Texas.
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The
statements in this presentation that relate to the Company's
expectations with regard to the future impact on the Company's
results from new products in development are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The results anticipated by any or all of these
forward-looking statements may not occur. Additional risks and
uncertainties are set forth in the Company's Annual Report for the
year ended December. 31, 2009, the Company's Quarterly Report for
the First quarter ended March 31, 2010. The Company undertakes no
obligation to publicly release the result of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof, or to reflect the occurrence
of unanticipated events or changes in the Company's plans or
expectations.
Contact: Planet Resource Recovery, Inc.
281-213-5622 Email Contact
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