University of Alberta Oil Sands Professor Dave Sego Named Executive Vice President of Technology at Wentworth Oil Sands.
Wentworth Energy, Inc. (OTCBB:WNWG) announced today that University of Alberta oil sands professor Dr. David Sego has been named Executive Vice President of Technology at Wentworth Oil Sands. Dr. Sego will lead the R&D team at Wentworth Oil Sands as it moves to commercialize the patented Petromax hydrocarbon separation technology.
"We are extremely honored to be working with such a qualified and experienced oil sands professional as Dave Sego, who brings with him decades of research into oil sands' technologies," said Roger Williams, Wentworth Oil Sands CEO. "As the principal investigator at the Alberta Oil Sands Tailings Research Facility Dr. Sego is on the leading edge of oil sands separation technology, studying the viability of many of the technologies of interest to large oil sands producers. His facilities in Alberta have also conducted early research into the commercial application of the Petromax process."
"I believe the environmentally friendly and cost-effective Petromax technology represents a major incremental step forward in oil sands separation technology," stated Dr. Sego. "As Wentworth Oil Sands proves the technical and commercial feasibility of using the Petromax technology for oil sands extraction, it could have a very profound impact on the energy industry in the U.S., Canada and other parts of the world containing abundant oil sands deposits. The next step for the technology is to demonstrate in the field that we can use the Petromax process to deliver commercial scale heavy oil production, and that is what our research and development will focus on in the coming months."
"Several years ago, Dr. Sego spent a sabbatical working for Suncor Energy, the second largest oil sands producer," added Barry Rosengrant, Petromax Technologies founder. "Even though his main concentration is in the remediation of the huge oil sand emulsified tailings ponds, Sego is a walking encyclopedia of all things related to the production side of the oil sands business."
Dr. Sego is a University of Alberta engineering professor and the principal investigator at the University of Alberta's Oil Sands Tailings Research Facility, a unique academic and industrial research facility dedicated to collaborative and multidisciplinary oil sands tailings research. Since 1990 Dr. Sego has received over $9 million in research grants, new equipment and facilities, and grants and contracts from private industry and government agencies. The major focus of his research during this period has been on understanding the behavior of mine wastes in cold regions, as well as research on minimizing the environmental impact of industrial waste streams.
About Wentworth Oil Sands Inc.
Wentworth Oil Sands Inc. is a joint venture between Wentworth Energy, Inc., and Petromax Technologies LLC. Formed to develop oil sands projects, the joint venture has exclusive rights to the Petromax hydrocarbon separation technology for Oil Sands and several other specific commercial applications including the marketing rights for Petromax in emulsified Oil Sands tailings remediation, and further rights to market the technology in Canada and the United States including use in the stimulation of oil and gas wells, tank sludge cleaning projects and oil pipeline transportation.
About Petromax Technologies LLC
Petromax is the developer of a proprietary process combining non-hazardous chemical formulations with shearing technology that separates oil and other commodities of value from inorganic material to which it adheres. This process has application to international markets for oil sludge removal, down-hole oil field stimulation, hazardous waste remediation (e.g., Mature Fine Tailings or "MFT"), and Oil Sands development.
About Wentworth Energy, Inc.
Located in Forth Worth, Texas, Wentworth Energy, Inc. is a diversified energy company focused on the responsible development of America's natural resources while driving to maximize shareholder value. Wentworth Energy will apply innovative technologies toward the discovery and development of a diverse portfolio of high-value, low-risk energy projects such as the Company's opportunities in the Oil Sands of eastern Utah, the prolific oil and gas fields of the Gulf Coast, and the East Texas gas play. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.