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Post by Franko10 ™ on Oct 18, 2005 9:26:24 GMT -5
Broadband Wireless International Corporation Announces Letter of Intent with Cassandra Energy, Inc
Business Wire, Sept 9, 2004
LAS VEGAS -- Broadband Wireless International Corporation (OTCBB: BBAN) announced today that a Letter of Intent has been executed with Cassandra Energy, Inc., to bring Cassandra Energy into BBAN as a subsidiary. The basis of the agreement is to utilize the current natural resource relationships of Broadband Wireless and its position in the market to effectuate the immediate and long term plans of Cassandra Energy.
Broadband has been receiving revenue from its oil and gas leases from Talisman Energy in Alberta, Canada. Cassandra Energy has a great deal of experience in the oil and gas business and has been advising Broadband on its leases. The management of Broadband is currently setting up a Natural Resources Division specifically to manage the current oil and gas leases, investigate additional opportunities and work with Cassandra Energy.
Cassandra Energy Inc. is an oil sands and natural gas development company with the goal of becoming a leader in the application of advanced environmentally sound techniques utilizing solvent extraction technology. The process is capable of removing bitumen from tar sands to produce heavy oil from tar sands and shallow oil deposits worldwide. Frank Glinton, the president and CEO of Cassandra Energy Inc., has fifteen years of experience in the environmental clean up business, developing solvents and equipment for oil spill cleanups. Mr. Glinton and Mr. Peter Allen, Chief Technical Officer, have worked together extensively in the international arena developing programs and strategies for oil spill cleanups.
Peter Allen has twenty-five years in the environmental and oil industry. Mr. Allen was a member of the team that developed the HMT extraction process that removed oil with Exxon from shallow oil deposits. He also was an engineer with Exxon Corp for 15 years. While training their spill response task forces, he managed logistical planning and coordination and also hired and trained personnel in beach cleaning and oil recovery methods.
The new process developed by Cassandra Energy Inc. requires the mining of the tar sand and the use of a miscible solvent that will extract in excess of 99% of the hydrocarbon. The Cassandra process does not require the use of water, the process is non-toxic to animal life and the resultant soil is clean of hydrocarbon residuals. Furthermore, there are no traces of the extraction solvents in the soil after treatment. Cassandra Energy is designing extraction equipment, which at peak performance is capable of handling 150 cubic yards of tar sand per hour at 0.85 bbls of oil per cubic yard, with an extraction rate of up to 3000 barrels of oil per day. This extraction equipment can be nested in groups of three, thus producing 9000 bbls of oil per day. Cassandra is utilizing the technology on its leases with a total proven reserve of 800 millions bbls as documented by the United States Geological Service (USGS) core samples. Cassandra's unique and proprietary process has increased extraction efficiencies when compared with conventional extraction technologies and techniques. Cassandra's process can profitably produce oil at less than $15 per barrel.
The directors of Broadband Wireless have been working with Cassandra Energy on their strategic development plan while keeping the technology and design plans extremely confidential. "We are very excited about this project. Efforts to complete the definitive agreement between the companies are in process. We look forward to working with Cassandra's management team and we welcome this opportunity," stated Keith McAllister, Co-Chairman.
About Broadband Wireless International Corporation
Broadband Wireless International Corporation is a diversified holding company and is moving into a wide variety of investments that are intended to generate positive cash flow for the corporation and dividends for the shareholders. The company currently holds interests in the entertainment industry, oil and gas.
Safe Harbor Forward-Looking Statements
This release contains 'forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
COPYRIGHT 2004 Business Wire
Business Wire, Sept 9, 2004
LAS VEGAS -- Broadband Wireless International Corporation (OTCBB: BBAN) announced today that a Letter of Intent has been executed with Cassandra Energy, Inc., to bring Cassandra Energy into BBAN as a subsidiary. The basis of the agreement is to utilize the current natural resource relationships of Broadband Wireless and its position in the market to effectuate the immediate and long term plans of Cassandra Energy.
Broadband has been receiving revenue from its oil and gas leases from Talisman Energy in Alberta, Canada. Cassandra Energy has a great deal of experience in the oil and gas business and has been advising Broadband on its leases. The management of Broadband is currently setting up a Natural Resources Division specifically to manage the current oil and gas leases, investigate additional opportunities and work with Cassandra Energy.
Cassandra Energy Inc. is an oil sands and natural gas development company with the goal of becoming a leader in the application of advanced environmentally sound techniques utilizing solvent extraction technology. The process is capable of removing bitumen from tar sands to produce heavy oil from tar sands and shallow oil deposits worldwide. Frank Glinton, the president and CEO of Cassandra Energy Inc., has fifteen years of experience in the environmental clean up business, developing solvents and equipment for oil spill cleanups. Mr. Glinton and Mr. Peter Allen, Chief Technical Officer, have worked together extensively in the international arena developing programs and strategies for oil spill cleanups.
Peter Allen has twenty-five years in the environmental and oil industry. Mr. Allen was a member of the team that developed the HMT extraction process that removed oil with Exxon from shallow oil deposits. He also was an engineer with Exxon Corp for 15 years. While training their spill response task forces, he managed logistical planning and coordination and also hired and trained personnel in beach cleaning and oil recovery methods.
The new process developed by Cassandra Energy Inc. requires the mining of the tar sand and the use of a miscible solvent that will extract in excess of 99% of the hydrocarbon. The Cassandra process does not require the use of water, the process is non-toxic to animal life and the resultant soil is clean of hydrocarbon residuals. Furthermore, there are no traces of the extraction solvents in the soil after treatment. Cassandra Energy is designing extraction equipment, which at peak performance is capable of handling 150 cubic yards of tar sand per hour at 0.85 bbls of oil per cubic yard, with an extraction rate of up to 3000 barrels of oil per day. This extraction equipment can be nested in groups of three, thus producing 9000 bbls of oil per day. Cassandra is utilizing the technology on its leases with a total proven reserve of 800 millions bbls as documented by the United States Geological Service (USGS) core samples. Cassandra's unique and proprietary process has increased extraction efficiencies when compared with conventional extraction technologies and techniques. Cassandra's process can profitably produce oil at less than $15 per barrel.
The directors of Broadband Wireless have been working with Cassandra Energy on their strategic development plan while keeping the technology and design plans extremely confidential. "We are very excited about this project. Efforts to complete the definitive agreement between the companies are in process. We look forward to working with Cassandra's management team and we welcome this opportunity," stated Keith McAllister, Co-Chairman.
About Broadband Wireless International Corporation
Broadband Wireless International Corporation is a diversified holding company and is moving into a wide variety of investments that are intended to generate positive cash flow for the corporation and dividends for the shareholders. The company currently holds interests in the entertainment industry, oil and gas.
Safe Harbor Forward-Looking Statements
This release contains 'forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
COPYRIGHT 2004 Business Wire
