Post by Zoinkers on Nov 25, 2006 2:28:04 GMT -5
FORT WORTH, TEXAS -- (MARKET WIRE) -- November 17, 2006 -- Redrock Oil
Sands, Inc. is pleased to announce that it has acquired the exclusive
worldwide rights to TDI Technology's oil sands extraction technology.
TDI's proprietary technology was developed for oil sands projects with
production targets starting at 10,000 Barrels of Oil per Day (BOPD).
The modular and scalable extraction process is designed to reduce both
capital and operating costs currently associated with larger surface
mined oil sands projects, as well as reduce the environmental damage
caused by the production of tailings ponds containing vast amounts of
contaminated water currently associated with conventional technologies
used to extract bitumen from oil sands.
"Redrock is very pleased to have found such a high quality technology
partner in TDI Technology to commercialize a cost-effective oil sands
extraction process solution," said Roger Williams, Chief Executive
Officer of Redrock Oil Sands. "The management team at TDI has an
extensive and successful history in developing technology solutions for
the energy sector."
Through a licensing agreement with TDI, Redrock becomes the exclusive
supplier of the TDI extraction process worldwide, with the exception of
Africa and China based on TDI's prior business activities. Acquiring
the TDI oil sands extraction technology is a strategic move for Redrock
Oil Sands, Inc. that will enable the company to move quickly to
commercialize smaller scale oil sands projects both in Canada and the
U.S. Following a successful pilot project of the TDI process in the
field to gather important commercial-scale design data, Redrock intends
to deploy the technology on a significant oil sands project in either
Alberta, Canada or in the State of Utah. Redrock also intends to use
the rights to market the TDI technology to other companies in the
energy sector worldwide.
"We developed the TDI process on the premise that the multi-billion
dollar costs associated with legacy technologies for oil sands
mega-projects in Northern Alberta are out of synch with potential new
extraction technology," said Sid Jaythingy, President of TDI Technology
Inc. "Our process makes it possible to develop oil sands projects that
are modular and scalable. This means that with the successful
deployment of the technology we would be able to start developing an
oil sands prospect with a smaller upfront cost, and then expand it when
and if required. The TDI process can achieve commercial operation in
about three years as compared to the ten to twelve years required for
the current technology. In addition we have designed our technology to
eliminate the creation of environmentally damaging tailings ponds from
the oil sands extraction process."
The TDI modular "in-pit" production and extraction process has five
main advantages: (1) factory fabrication of all equipment components to
eliminate high field construction costs; (2) elimination of the large
majority of oil sands transportation costs; (3) elimination of the very
high capital and operating costs associated with bitumen froth
treatment; (4) elimination of tailings treatment and storage of vast
quantities of contaminated wastes in massive and costly tailings
impoundments; and (5) a significant reduction of the costly commercial
development time.
About TDI Technology Inc.
TDI Technology Inc. is a Canadian Company founded by petroleum project
development engineers Sid Jaythingy and Dr. Earl St. Denis. Together
they specialize in program and process evaluations for oil and mining
operations including process options for oil sands facilities. This
includes development of surface mine depth oil sands deposits of a size
or location not economically feasible with current proven mega-project
technology. TDI's proprietary bitumen extraction technology is based on
the development of oil sands production projects in increments of
10,000 Barrels of Oil per Day (BOPD).
About Redrock Oil Sands, Inc.
Redrock Oil Sands, Inc. (Redrock) is a resource-based development
company with expertise in several areas of materials science. The
Company's proprietary technologies for bitumen production and waste
remediation incorporate energy efficient and cost effective methods to
separate materials into valued material streams. Redrock is deploying a
national platform for industrial services and environmental remediation
through the Company's wholly-owned subsidiary REGS, LLC. In addition,
the Company has the rights to TDI Technology's oil sands extraction
process designed to develop smaller scale oil sands deposits that would
otherwise be uneconomic to exploit using conventional technologies. For
more information on the Company visit www.redrockoilsands.com.
This Press Release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. A statement identified by the words
"expects", "projects", "plans", and certain of the other foregoing
statements may be deemed "forward-looking statements". Although Redrock
Oil Sands believes that the expectations reflected in such
forward-looking statements are reasonable, these statements involve
risks and uncertainties that may cause actual future activities and
results to be materially different from those suggested or described in
this press release. These include risks inherent in the development of
oil sands projects, including risks of fire, explosion, equipment
failure, pit wall collapse, unusual or unexpected geological formations
and geotechnical factors, environmental hazards, and other operating
and production risks inherent in oil sands mining and production
activities, which may temporarily or permanently reduce production or
cause initial production or test results to not be indicative of future
performance or delay the timing of sales or completion of mining
operations; risks with respect to oil and natural gas prices, a
material decline in which could cause the Company to delay or suspend
planned mining operations or reduce production levels; and risks
relating to the availability of capital to fund mining operations that
can be adversely affected by adverse mining results, production
declines and declines in oil and gas prices and other risk factors.
Sands, Inc. is pleased to announce that it has acquired the exclusive
worldwide rights to TDI Technology's oil sands extraction technology.
TDI's proprietary technology was developed for oil sands projects with
production targets starting at 10,000 Barrels of Oil per Day (BOPD).
The modular and scalable extraction process is designed to reduce both
capital and operating costs currently associated with larger surface
mined oil sands projects, as well as reduce the environmental damage
caused by the production of tailings ponds containing vast amounts of
contaminated water currently associated with conventional technologies
used to extract bitumen from oil sands.
"Redrock is very pleased to have found such a high quality technology
partner in TDI Technology to commercialize a cost-effective oil sands
extraction process solution," said Roger Williams, Chief Executive
Officer of Redrock Oil Sands. "The management team at TDI has an
extensive and successful history in developing technology solutions for
the energy sector."
Through a licensing agreement with TDI, Redrock becomes the exclusive
supplier of the TDI extraction process worldwide, with the exception of
Africa and China based on TDI's prior business activities. Acquiring
the TDI oil sands extraction technology is a strategic move for Redrock
Oil Sands, Inc. that will enable the company to move quickly to
commercialize smaller scale oil sands projects both in Canada and the
U.S. Following a successful pilot project of the TDI process in the
field to gather important commercial-scale design data, Redrock intends
to deploy the technology on a significant oil sands project in either
Alberta, Canada or in the State of Utah. Redrock also intends to use
the rights to market the TDI technology to other companies in the
energy sector worldwide.
"We developed the TDI process on the premise that the multi-billion
dollar costs associated with legacy technologies for oil sands
mega-projects in Northern Alberta are out of synch with potential new
extraction technology," said Sid Jaythingy, President of TDI Technology
Inc. "Our process makes it possible to develop oil sands projects that
are modular and scalable. This means that with the successful
deployment of the technology we would be able to start developing an
oil sands prospect with a smaller upfront cost, and then expand it when
and if required. The TDI process can achieve commercial operation in
about three years as compared to the ten to twelve years required for
the current technology. In addition we have designed our technology to
eliminate the creation of environmentally damaging tailings ponds from
the oil sands extraction process."
The TDI modular "in-pit" production and extraction process has five
main advantages: (1) factory fabrication of all equipment components to
eliminate high field construction costs; (2) elimination of the large
majority of oil sands transportation costs; (3) elimination of the very
high capital and operating costs associated with bitumen froth
treatment; (4) elimination of tailings treatment and storage of vast
quantities of contaminated wastes in massive and costly tailings
impoundments; and (5) a significant reduction of the costly commercial
development time.
About TDI Technology Inc.
TDI Technology Inc. is a Canadian Company founded by petroleum project
development engineers Sid Jaythingy and Dr. Earl St. Denis. Together
they specialize in program and process evaluations for oil and mining
operations including process options for oil sands facilities. This
includes development of surface mine depth oil sands deposits of a size
or location not economically feasible with current proven mega-project
technology. TDI's proprietary bitumen extraction technology is based on
the development of oil sands production projects in increments of
10,000 Barrels of Oil per Day (BOPD).
About Redrock Oil Sands, Inc.
Redrock Oil Sands, Inc. (Redrock) is a resource-based development
company with expertise in several areas of materials science. The
Company's proprietary technologies for bitumen production and waste
remediation incorporate energy efficient and cost effective methods to
separate materials into valued material streams. Redrock is deploying a
national platform for industrial services and environmental remediation
through the Company's wholly-owned subsidiary REGS, LLC. In addition,
the Company has the rights to TDI Technology's oil sands extraction
process designed to develop smaller scale oil sands deposits that would
otherwise be uneconomic to exploit using conventional technologies. For
more information on the Company visit www.redrockoilsands.com.
This Press Release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. A statement identified by the words
"expects", "projects", "plans", and certain of the other foregoing
statements may be deemed "forward-looking statements". Although Redrock
Oil Sands believes that the expectations reflected in such
forward-looking statements are reasonable, these statements involve
risks and uncertainties that may cause actual future activities and
results to be materially different from those suggested or described in
this press release. These include risks inherent in the development of
oil sands projects, including risks of fire, explosion, equipment
failure, pit wall collapse, unusual or unexpected geological formations
and geotechnical factors, environmental hazards, and other operating
and production risks inherent in oil sands mining and production
activities, which may temporarily or permanently reduce production or
cause initial production or test results to not be indicative of future
performance or delay the timing of sales or completion of mining
operations; risks with respect to oil and natural gas prices, a
material decline in which could cause the Company to delay or suspend
planned mining operations or reduce production levels; and risks
relating to the availability of capital to fund mining operations that
can be adversely affected by adverse mining results, production
declines and declines in oil and gas prices and other risk factors.