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Post by Franko10 ™ on Aug 5, 2005 5:22:40 GMT -5
August 04, 2005 09:00 AM US Eastern Timezone
Oretech Announces Positive Test Results Extracting Oil from Tar Sands
COLUMBUS, Ga.--(BUSINESS WIRE)--Aug. 4, 2005--Oretech, Inc. (Pink Sheets:ORTE) announced today that the company has recently completed test processing on tar sands from the Athabasca region of Alberta, Canada. Preliminary results indicate the extraction of oil is apparently a higher percentage than that which is extracted by conventional methods, while remaining extremely environmentally friendly. The API gravity of the bitumen (oil) is significantly upgraded during the extraction process.
Alberta's tar sands comprise one of the world's two largest sources of bitumen; the other is in Venezuela. These oil reserves are second only to Saudi Arabia, and are found only in three places in Alberta -- the Athabasca, Peace River and Cold Lake regions -- covering a total of nearly 140,800 square kilometers. These tar sands currently represent 54 per cent of Alberta's total oil production, and about one-third of all the oil produced in Canada. Output of marketable tar sands production increased to 858,000 barrels per day (bbl/d) in 2003, up from 741,000 bbl/d the year before. It is anticipated that in 2005, Alberta's tar sands production may account for one-half of Canada's total crude output and 10 per cent of North American production.
Oretech, Inc. has developed a proof of concept model that represents a breakthrough in oil extraction from Tar Sand processing technology. Its business model is to be a leading edge developer and licensor of proprietary innovative technology that reduces the cost of extraction of noble metals (Gold / Silver / Platinum / Titanium) and energy resources (Oil Extraction from Tar Sand and Shale). Focusing on reducing pollution of the environment, Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of harmful chemicals or the emission of environmentally unsafe gases. For full details, please visit the Company's homepage at www.Oretech.net.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Contacts
Oretech, Inc., Columbus
H. Stephen Shehane, 706-653-5370
Oretech Announces Positive Test Results Extracting Oil from Tar Sands
COLUMBUS, Ga.--(BUSINESS WIRE)--Aug. 4, 2005--Oretech, Inc. (Pink Sheets:ORTE) announced today that the company has recently completed test processing on tar sands from the Athabasca region of Alberta, Canada. Preliminary results indicate the extraction of oil is apparently a higher percentage than that which is extracted by conventional methods, while remaining extremely environmentally friendly. The API gravity of the bitumen (oil) is significantly upgraded during the extraction process.
Alberta's tar sands comprise one of the world's two largest sources of bitumen; the other is in Venezuela. These oil reserves are second only to Saudi Arabia, and are found only in three places in Alberta -- the Athabasca, Peace River and Cold Lake regions -- covering a total of nearly 140,800 square kilometers. These tar sands currently represent 54 per cent of Alberta's total oil production, and about one-third of all the oil produced in Canada. Output of marketable tar sands production increased to 858,000 barrels per day (bbl/d) in 2003, up from 741,000 bbl/d the year before. It is anticipated that in 2005, Alberta's tar sands production may account for one-half of Canada's total crude output and 10 per cent of North American production.
Oretech, Inc. has developed a proof of concept model that represents a breakthrough in oil extraction from Tar Sand processing technology. Its business model is to be a leading edge developer and licensor of proprietary innovative technology that reduces the cost of extraction of noble metals (Gold / Silver / Platinum / Titanium) and energy resources (Oil Extraction from Tar Sand and Shale). Focusing on reducing pollution of the environment, Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of harmful chemicals or the emission of environmentally unsafe gases. For full details, please visit the Company's homepage at www.Oretech.net.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Contacts
Oretech, Inc., Columbus
H. Stephen Shehane, 706-653-5370
