25.07.2007 05:21
Platina Energy's Proprietary and Innovative Thermal Pulse Unit Technology Licenses Become Subject of Joint Venture Alliance
Platina Energy Group, (Nachrichten) Inc. (OTCBB:PLTG), (Frankfurt:O5Y) announces that Permian Energy, a wholly owned subsidiary of Platina Energy Group, is forming a joint venture alliance using the Company's rights and licenses for the proprietary Thermal Pulse Unit device. Such an alliance would enable considerable distribution access to this innovative and environmentally friendly oil recovery technology.
Platina owns proprietary representation, licensing, and marketing rights to the German inspired Thermal Pulse Unit (TPU), an enhanced oil and gas recovery technology for improved extraction capability for various field applications.
Under proper conditions, the TPU provides significantly lowered cost basis per barrel for recovery without problems typically associated with current technologies such as CO2 floods and steam. It will also improve the potential recoverable reserves in fields that might otherwise not be extractable.
“The TPU allows for high pressure and heat to be forced down-hole thereby reducing paraffin deposits and viscosity of oil for better flow rates,“ stated Dan Thorton, VP of business development for Permian Energy. “In fields where there is oil but with some natural gas, this technology can remove the need for a down-hole pump or pump jack while utilizing gas lift technology of the TPU. Companies involved in this technology understand that the Thermal Pulse Unit device is innovative, yet reliable, because it is made from readily available and proven components.“
About Platina Energy Group
Platina is an E&P Company that owns oil and gas lease properties in Texas and Tennessee. The Company currently produces oil from one field. It also owns oil and gas leases for proven and unproven reserves for which it is currently obtaining drilling permits. Platina owns rights to a German inspired, proprietary technology that allows for the cost effective recovery of certain types of untapped oil reserves.
SEC DISCLAIMER
Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains “Safe Harbor“ provisions of the US Private Securities Litigation Reform Act of 1995& involves risks and uncertainties, which could cause actual results to differ materially from those estimated.
Platina Energy believes forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable, unanticipated risks, trends, and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood.
MfG
Mike Neuling |
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