Planet Resource Recovery, Inc. Commences First Field Test Utilizing PetroLuxus(TM) MMMF for Enhanced Oil Recovery.HOUSTON -- Planet Resource Recovery, Inc. (PINK SHEETS: PRRY), developer, manufacturer and marketer of the PetroLuxus[TM] family of products, announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Oil Recovery Ventures, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has commenced its first field test of PetroLuxus[TM] MMMF MMMF Money Market Mutual Fund MMMF Man Made Mineral Fibre MMMF Maximum Margin Matrix Factorization . PetroLuxus[TM] MMMF is specifically blended for the Enhanced Oil Recovery Enhanced Oil Recovery (EOR) is a generic term for techniques for increasing the amount of oil that can be extracted from an oil field. Using EOR, 30-60 %, or more, of the reservoir's original oil can be extracted [1] compared with 20-40% [2] market for the treatment of low yield production oil wells to extract existing oil in place. Oil Recovery Ventures, LLC, treated its first oil well in Central Texas. The oil well identified for treatment with PetroLuxus[TM] MMMF has a long history of oil production. This isolated well had produced hundreds of barrels of oil per day but production has dwindled to approximately half a barrel of oil per day. The producing well that was treated has a depth of approximately 2200 feet. The company will monitor production activity at the well and anticipates announcing results in near future. For every barrel of crude oil produced in the United States, two barrels of oil are left in the ground due the cohesion and adhesion of oil to formation structures. Technologies to increase extraction of oil held in place are known as the Enhanced Oil Recovery (EOR EOR - exclusive or ) industry. The EOR industry aims to increase extraction in marginal wells where oil production has slowed to 15 barrels a day or less. According to The Office of Fossil Energy, "There are nearly 500,000 of these wells in the US, and together they produce about the same amount of oil as America imports from Saudi Arabia." PetroLuxus[TM] MMMF was specifically blended for the EOR industry. A PetroLuxus[TM] MMMF treatment in a down hole application eliminates the interfacial surface tension Noun 1. interfacial surface tension - surface tension at the surface separating two non-miscible liquids interfacial tension surface tension - a phenomenon at the surface of a liquid caused by intermolecular forces between oil and all matter it contacts including sand, clay, rock, shale, etc. The elimination of surface tension permits the oil to separate for economically viable extraction. PetroLuxus[TM] MMMF will be available to the EOR market through Oil Recovery Ventures, LLC on a revenue share platform based on increased production of marginal wells. About Planet Resource Recovery, Inc Planet Resource Recovery, Inc. is an innovative PetroChemical/Oil Services company that has developed a proprietary, environmentally-friendly chemical that dislodges hydrocarbons in practically all-natural and man-made environments. The company's flagship product, PetroLuxus[TM], and its derivative product lines have a strong affinity` and rapid dispersement qualities to break hydrocarbon chains on a molecular level for cost-effective remediation and recovery of petroleum products. The company's prospective markets for remediation and recovery include: oil tank farm cleaning, marine ship cleaning, oil sludge pits, 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/oil spills, biodiesel, waste oil segregation, heavy oil, tar sands, and Enhanced Oil Recovery, to name a few. Planet Resource Recovery's pilot manufacturing plant is fully operational with PetroLuxus[TM] ready for commercialization. For an audio/visual demonstration of PetroLuxus[TM], click on the link below. http://www.planetresource.net/test76u31b.htm For more information please visit www.planetresource.net or http://www.petroluxus.com "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. , risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive risks, reliance on development partners and the need for additional capital. |
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