Planet Resource Recovery (PK) (USOTC:PRRY)
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Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), is pleased to
announce that the company’s wholly-owned
subsidiary, Oil Recovery Ventures, LLC has entered into talks to acquire
a working interest in oil production wells west of Houston. The selected
wells open a potentially new revenue stream for the company through
participation in production utilizing the PetroLuxus(TM) family of
products for oil well formation stimulation and clean up to maximize
efficiencies and revitalization in the oil patch. Planet Resource
Recovery will issue investor updates on the progression of these
negotiations.
Recent deployment of PetroLuxus(TM) MMMF and PetroLuxus(TM) Well Clean
have realized significant increases in oil production. A recent well
stimulation in February 2008 has resulted in stabilized increased oil
production of approximately 275% for over 90 days. Other treatments are
realizing similar results in testing and establishing the
cost-effectiveness and determining the longevity of Planet Resource
Recovery products.
Oil Recovery Ventures, LLC will work selected operators in the local
area to deploy PetroLuxus(TM) products for increased oil production.
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and
marketer of the PetroLuxus(TM) family of products, a proprietary
environmentally friendly chemical compound that dislodges oil in
practically all natural and man-made environments. The PetroLuxus(TM)
family of products are effective and efficient solutions for the
remediation and recovery of petroleum-based products. PetroLuxus(TM)
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 and
biodiesel, to name a few. Through the acquisition and formation of
wholly owned subsidiaries, Planet Resource Recovery, Inc. deploys the
PetroLuxus(TM) products. Oil Recovery Ventures, Inc. deploys
PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery
market.
For an audio/visual demonstration of PetroLuxus(TM), click on the link http://www.planetresource.net/index-21.html
For more information visit: http://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.