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.