Indocan Resources Commits to Sunray Oil on Carnell Project

Indocan Resources Commits to Sunray Oil on Carnell Project 


ADDISON, Texas, July 15  /PRNewswire-FirstCall/ -- Indocan Resources Inc.
(OTC:IDCN) and Genoray Advanced Technologies (OTC:GATL) jointly announce they
have entered into a commitment with Sunray Oil Company of Addison, Texas,
http://www.sunrayoilcompany.com/ and a consortium assembled by Sunray Oil,
whereby Indocan Resources Inc. and Genoray Advanced Technologies Inc. have
agreed to purchase a 30% interest in the Carnell No. 3 Project in Garvin
County, Oklahoma five miles west of Pauls Valley, Oklahoma.

Sunray will drill a new well to the Basal Creek Sand to a depth of 6,700 feet.
At this depth we should have penetrated the upper 1st Deese, Viola, 1st Bromide
and the Oil Creek Sand Formation for oil & gas production. Our initial
production rate could be as high as 200 to 300 BOPD for 90 to 120 days. The
total estimated remaining recoverable oil from all zones in place of 500,000
barrels per well.

The deal with Knightsbridge Credit & Banking Trust (Switzerland) of Dubai,
United Arab Emirates has not been pursued by Knightsbridge and the Board of
Directors of Indocan Resources Inc. considers its commitment to have expired.

  More information is available at http://www.indocan.com/

   Company Info: [phone] Jeffrey R Bruhjell, president
   CONTACT: Investor Relations, Ken Ash [phone].


DATASOURCE: Genoray Advanced Technologies Inc.



CONTACT:  Ken Ash, Investor Relations, [phone]



Web site:  http://www.sunrayoilcompany.com/ 

Web site:  http://www.indocan.com/ 

Web site:  http://www.genoray.net/ 

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