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PRRY Planet Resource Recovery Inc (PK)

0.0002
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Planet Resource Recovery Inc (PK) USOTC:PRRY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0002 0.0002 0.004 0.00 01:00:00

Planet Resource Recovery, Inc. Introduces Total Oil Well Clean Solution for Increased Crude Oil Production

10/01/2008 12:00pm

Business Wire


Planet Resource Recovery (PK) (USOTC:PRRY)
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Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), developer, manufacturer and marketer of the PetroLuxus™ family of products, is pleased to introduce PetroLuxus™ WC-100 as the new and complete solution for the cleanup of oil well equipment at the well site. This new PetroLuxus™ derivative product is an environmentally-friendly solution for the vast oil well cleanup market that is designed to increase oil production through efficient operation of well site equipment. PetroLuxus™ WC-100 provides a dramatic and economic revitalization of a well with the realized cost savings of between 30-40 percent below current conventional methods. PetroLuxus™ WC-100 was specifically developed based on results of the numerous treatments of oil wells with PetroLuxus™ MMMF – the company’s Enhanced Oil Recovery product that increases oil production through stimulation of the formation. Through the treatment of numerous marginal wells with PetroLuxus™ MMMF, it became evident that increased oil production results were hindered due to oil flow restrictions in the production equipment. The production equipment includes all of the components in contact with the fluids being moved from the formation to the collection tanks, such as pumps, down hole tubing, casing, aboveground piping valves and fittings, and tanks. The equipment is affected daily by age, contamination, treatment chemicals, scale, rust, paraffin, asphalt, temperature, pressure, abrasion, and a host of other issues that invariably affect the flow dynamics. Additionally, the area adjacent to the well bore or the production zone acts as a filtering area that accumulates particulate matter, paraffin, and heavy hydrocarbon components that over time reduce or restrict the amount of fluid that can flow. All of this adds up to reduced production over time and increased operating cost for maintenance. PetroLuxus™ WC-100 was developed to address these issues on a cost effective basis. The combination treatment utilizing PetroLuxus™ WC-100 to clean fluid flow restrictions followed by the formation treatment with PetroLuxus™ MMMF results in increased production of marginal wells. According to the U.S. Department of Energy, “One out of every six barrels of crude oil produced in the United States comes from a marginal well - a well whose production has slowed to 10 barrels a day or less. About 80 percent of the total number of U.S. oil wells are now classified as marginal wells. There are over 400,000 of these wells in the United States, and together they produce nearly one million barrels of oil per day, or about 19 percent of U.S. production.” For additional information on PetroLuxus™ WC-100 and treatment protocols, please visit: http://www.planetresource.net/index-85.html About Planet Resource Recovery, Inc. Planet Resource Recovery, Inc. is a holding company spearheaded by its Petrochemical manufacturing unit that has developed PetroLuxus™, a proprietary environmentally friendly chemical compound that dislodges oil in practically all natural and man-made environments. The PetroLuxus™ family of products is an effective and efficient solution for the remediation and recovery of petroleum based products. PetroLuxus™ applications include Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm cleaning, marine ship cleaning, remediation of oil sludge pits, treatment of raw fuel feedstocks, waste oil segregation, biodiesel, to name a few. Through the acquisition and formation of wholly-owned subsidiaries, Planet Resource Recovery, Inc. deploys the PetroLuxus products. RADA Technologies, Inc. engineers new mechanical processing equipment proprietary to PetroLuxus products while simultaneously providing fuel inventory management services reducing loss to increase gain for its customers. Oil Recovery Ventures, Inc. deploys PetroLuxus™ through joint ventures in the Enhanced Oil Recovery market. For an audio/visual demonstration of PetroLuxus™, click on the link http://www.planetresource.net/index-21.html For more information please visit www.planetresource.net or http://www.petroluxus.com "Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.

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1 Year Planet Resource Recovery (PK) Chart

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1 Month Planet Resource Recovery (PK) Chart

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