Canglobe's New Technologies Cracks Salt Contamination in Oil and Gas Remediation Sites.EDMONTON, Alberta -- Canglobe International Inc.'s (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGLO CGLO Coastguard Liaison Officer ), announces that it has entered into a venture with Blue Ribbon blue ribbon denotes highest honor. [Western Folklore: Brewer Dictionary, 127] See : Prize Environmental Products, Inc. ("BREP BREP Boundary Representation BREP Bug Reporting "), whereby they equally own CW Remediation Ltd. ("CWR CWR Cabinet War Rooms (UK) CWR Continuous Welded Rail CWR Case Western Reserve (College) CWR California Western Railroad CWR Central Western Railway CWR Center for Whale Research "). CWR has been incorporated in the Province of Alberta and has acquired the rights to technologies under license from Advanced Water Research & Development Inc. and BREP, which it believes provides a viable solution to Alberta's estimated US$300 million per year oil and gas soil remediation industry. The solutions include: --Removal of salt, petrochemicals, creosote creosote (krē`əsōt), volatile, heavy, oily liquid obtained by the distillation of coal tar or wood tar. Creosote derived from beechwood tar has been used medicinally as an antiseptic and in the treatment of chronic bronchitis. , and heavy metals heavy metals, n.pl metallic compounds, such as aluminum, arsenic, cadmium, lead, mercury, and nickel. Exposure to these metals has been linked to immune, kidney, and neurotic disorders. from contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. soil and water sites; --Removal of contaminants from water produced from oil and gas wells through a cold evaporation process which cleans up to 400 gallons of well water per hour; and --Removal of contaminants from petrochemical, mining, and other industry waste water, without the use of chemicals, at a rate of over 3,000 gallons per minute; and With an estimated 75,000 sites in Alberta requiring some remediation and with an additional estimated 10,000 new wells being drilled each year, Alberta's remediation industry is expected to grow to by more than US$1 billion per year within the next 10 year period. The major remediation projects deal with soil either contaminated with salt or with hydrocarbons or both. Current technology cannot effectively or economically treat the contaminated soil, consequently, the oil and gas industry must pay landowners rent to compensate them for the lost farm revenues caused by the damaged soils. Meanwhile aquifers are becoming increasingly at risk due the continual leaching of the contaminants. The technology secured by the Company has proven to remove salt, hydrocarbons, creosote and heavy metals from soil in an in situ In place. When something is "in situ," it is in its original location. basis. The Company believes that the technology is effective in providing requisite remediation to sites contaminated with salt, hydrocarbons, creosote and heavy metals in less than 10% of the time than the time spent implementing technologies restricted to hydrocarbon remediation only. The Company will commence proof of the concepts on four sites in Northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. that have been secured from a major oil and gas company upon melting of frozen ground in early May, 2005. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology. These forward-looking statements include statements about: --our market opportunity; --revenue generation; --our strategies; --competition; --expected activities and expenditures as we pursue our business plan; and --the adequacy of our available cash resources. These statements appear in a number of places in this press release and include statements regarding our intent, belief or current expectations, those of our directors or officers with respect to, among other things: (i) trends affecting our financial condition or results of operations, (ii) our business and growth strategies, (iii) the Internet and Internet commerce and (iv) our financing plans. Although we believe that the expectations reflected in the forward-looking statement are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to those discussed in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2003. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion herein should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. |
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