Uranium Power Corporation: Earth Energy Catalyst Results Confirm Commercial Application.Energy Editors/Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 2, 2003 Uranium Power Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:URMP)(DAX:URP) Several tar sand tar sand or bituminous sand Deposit of loose sand or partially consolidated sandstone that is saturated with highly viscous bitumen. Oil recovered from tar sands, commonly referred to as synthetic crude, is a potentially significant form of fossil fuel. samples have been analyzed using a batch extraction unit with the Karl Clarke Extraction Process to determine the optimum slurry temperatures and catalytic concentration. The process was modified to closely represent the Earth Energy 500 ton per day pilot plant. It was determined the optimum processing temperature is between 40 to 60 degrees Celsius (104 to 140 degrees Fahrenheit) with a catalyst concentration of less than half used in previous pilot plant tests. The best results include upgrading of oil to 30.51 degrees API which is a medium grade crude oil; oil recovery of 98.22% by weight; and .29% by weight of hydrocarbon content remaining in the residual sand, which is extremely clean. There is a good correlation between the batch extraction results and results from the September and October tests using the Earth Energy 500 ton per day processing plant. The correct temperature, catalyst concentration, and amount of catalyst required to maintain optimum conditions confirm the potential for commercial applications with tar sands Tar sands is a common name of what are more properly called bituminous sands, but also commonly referred to as oil sands or (in Venezuela) extra-heavy oil. They are a mixture of sand or clay, water, and extremely heavy crude oil. . The same batch extraction unit, using the Earth Energy Catalyst, will now analyze Pasquia Hills Oil Shale oil shale Any fine-grained sedimentary rock that contains solid organic matter (kerogen) and yields significant quantities of oil when heated. This shale oil is a potentially valuable fossil fuel, but the present methods of mining and refining it are expensive, damage the samples over the next several days. Uranium Power Corporation has an option to purchase the Canadian, Central and South American exclusive license for the Earth Energy catalytic process, which separates and upgrades hydrocarbons from tar sands, oil shales, heavy oils and 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. soils while producing clean sands that meet most environmental standards. The world's largest deposits of tar sands are located in Canada and Venezuela. The Earth Energy Catalytic Process may also be applicable to the Pasquia Hills Oil Shale resource, which may significantly reduce its estimated production cost. Please visit the Company's web site at www.apioil.net for details of a conference call for shareholders and other interested parties to be held on December 8th, 2003 at 2:00 PM Pacific Standard Time to review the Company's progress as well as pending developments with the Pasquia Hills oil shale project. 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 under 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: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. |
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