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PEC Prometheus Regs

4.00
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Prometheus Regs LSE:PEC London Ordinary Share COM SHS NPV (REGS)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Production update

11/05/2007 8:01am

UK Regulatory


RNS Number:4235W
Prometheus Energy Co
11 May 2007


11 May 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND, THE
REPUBLIC OF SOUTH AFRICA OR JAPAN.

Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly, in or into the United States, Canada,
Australia, the Republic of Ireland, the Republic of South Africa or Japan. Any
failure to comply with this restriction may constitute a violation of United
States, Canadian, Australian, Republic of South Africa, Republic of Ireland or
Japanese securities laws.


                           Prometheus Energy Company
                        ("Prometheus" or the "Company")

                      Update on LNG production at Bowerman

                   Enerflex to manufacture Prometheus Systems


Following its announcement on 22 January, 2007, Prometheus Energy Company, an
alternative and renewable energy company, provides further information on
progress towards the full commissioning of the world's first landfill-to-liquid
natural gas ("LNG") plant at the Frank R. Bowerman Landfill in Orange County,
California.


After installation in late 2006, the plant first started to produce LNG in
January this year. On January 22 the Company announced that the plant had
produced LNG at the rate of 1,000 gallons per day and that the Company envisaged
a commissioning process continuing towards the plant's nameplate capacity of
5,000 gallons per day. During this process, the Company confirmed the ability of
the plant to produce high quality LNG from a waste stream of landfill gas. The
Company also determined that some modifications would be necessary for the plant
to achieve full, continuous, capacity. Those modifications have nearly been
completed and the plant is again producing high quality LNG continuously. The
Company's ongoing commissioning process is now focused on increasing production
towards nameplate capacity, which it expects to achieve by the end of the
summer.


Separately, Prometheus has engaged Enerflex Systems, Ltd. ("Enerflex") to
manufacture its proprietary purification and liquefaction systems. Under the
agreement, Enerflex also will provide engineering services for Prometheus. The
first project will be to fabricate the additional landfill gas-to-LNG systems
needed both for the expansion of the Bowerman Landfill and for the Kiefer Road
Landfill in Sacramento, California. Enerflex also will work on a coal mine
methane-to-LNG system that will be installed on the site of the Krupinski
coalmine near Krakow, Poland. Work on the projects will start immediately.


Enerflex is a leading provider of products and services to companies in the
global oil and natural gas production business, and has developed particular
expertise in the design and fabrication of integrated and modularised gas
processing equipment.



ENDS



Prometheus Energy Company                               +1 206 267 0800
Kirt Montague (Chief Executive Officer)
Jeff Spencer (Chief Financial Officer)

Jefferies International Limited                         +44 20 7618 3676
Charles Cameron
Frederic Paternot
Oliver Griffiths

Cubitt Consulting                                       +44 20 7367 5100
Simon Brocklebank- Fowler
Michael Henman
Allison Reid



Notes to editors:


Prometheus Energy Company is a public corporation with its shares traded on the
London Stock Exchange's AIM market. It is headquartered in Seattle, Washington.
Prometheus is a global alternative and renewable fuel company, specializing in
the production, distribution, and sale of liquid natural gas (LNG) from low-cost
waste and stranded sources of methane.


The Company is an emerging leader in distributed fuel production, integrating
small-scale purification and liquefaction systems that generate fuel near the
end-user. For more information concerning Prometheus please contact us at +1 206
267-0800 or at Info@Prometheus-Energy.com


Jefferies International Limited, which is authorised and regulated by the
Financial Services Authority, is acting for the Company and no other person in
connection with this announcement and will not be responsible to anyone other
than the Company for providing the protections afforded to customers of
Jefferies International Limited nor for advising any other person on the
contents of this announcement or any matters described in this announcement.


This announcement does not constitute an offer to purchase or subscribe for
securities. This announcement and the information contained herein is restricted
and is not for publication, distribution or release in whole or in part in the
United States.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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