Post by Zoinkers on May 25, 2006 20:18:12 GMT -5
Press Release Source: Nevtah Capital Management Inc.
Nevtah Relocates Pilot Scale Plant at Asphalt Ridge, Utah Tar Sands & Commissions Construction of Two Larger Scale Systems
Thursday March 9, 4:24 pm ET
PALM BEACH GARDENS, FL--(MARKET WIRE)--Mar 9, 2006 -- Nevtah Capital Management Inc. (Other OTC:NTAH.PK - News) today announced further progress on the development of its successful pilot plant operation in the Utah Tar Sands with its joint venture partner, Black Sand Energy Corp.
Since undergoing rigorous field testing and stabilizing from November, 2005 to the end of February, 2006, the joint venture partners' pilot plant project has been winterized as well as its support equipment, in order to maintain processing levels at colder temperatures. (See Press Release dated December 27th, 2005.) The pilot plant has since been moved a short distance away from the present operation, to one of the joint ventures' leases on Asphalt Ridge, where it is currently being assembled for production. A heating coil has been installed to minimize the accumulation of condensed water. A hydraulic motor has been installed on the plant's lower steam bowl to improve the removal of sand from the bottom of the wash chamber. Two basket-type devices have also been constructed to improve the heat transfer in the flash evaporator, and a conveyor system, complete with a remote-operation software program, has been set up.
An engineering firm has been commissioned to engineer the scale-up for two extraction units: the first one, a mobile unit to produce between 250-300 bbls per day, and a second, larger commercial unit that will produce 100 bbls per hour for an average daily output of 2000 bbls. (Annual production would be 800,000 bbls at 91% capacity.) The scaled-up plant is scheduled to be completed mid-2006. The joint venture partners' 4,190 acres in Asphalt Ridge are estimated to contain total recoverable oil reserves of 30,000 to 40,000 bbls per acre (DOE 1983 Estimates). In total, the joint venture partnership holds 11,535 acres in leases within the Utah Tar Sands areas of Asphalt Ridge, PR Springs and Sunnyside.
Nevtah and Black Sand Energy employ a proven, patented closed-loop solvent extraction technology to deliver oil at under $ 12.50 per barrel, including transportation costs. The technology was successfully demonstrated during a full-scale operation in Wyoming for one year, producing an average of 2000 bbls oil per day, as well as the current pilot plant project in Utah. This continuous flow system is totally closed loop and is very eco-friendly. It has near-zero solvent loss, produces minimal greenhouse gases and returns the cleaned-up sand to the environment, leaving the ecosystem in better-than-original condition. The highly scalable, patented technology works in locations that lack significant water resources and works efficiently on a wide range of host oil and sediment types. The result is a 99% oil recovery rate. Until now, the petroleum industry has not succeeded in finding a commercially viable process to recover oil from oil sands using conventional, solvent-based technology. With over a year of proven test results from a full-scale production plant, and from the current, successful pilot plant testing, the joint venture partners feel they now have a viable, efficient extraction system for the successful commercialization of the technology.
For more information, please visit the Company's website at: www.nevtahoilsands.com or contact Paul Davey, Investor Relations at: (778) 389-0915, Email: info@nevtahoilsands.com or Mr. Daniel P. Kesonen, President & CEO of Nevtah Capital Management at (561) 626-9901. Email: rlk@adelphia.net
Contact:
Contacts:
Nevtah Capital Management, Inc.
Daniel P. Kesonen
President & CEO
561-626-9901
--------------------------------------------------------------------------------
Source: Nevtah Capital Management Inc.
Nevtah Relocates Pilot Scale Plant at Asphalt Ridge, Utah Tar Sands & Commissions Construction of Two Larger Scale Systems
Thursday March 9, 4:24 pm ET
PALM BEACH GARDENS, FL--(MARKET WIRE)--Mar 9, 2006 -- Nevtah Capital Management Inc. (Other OTC:NTAH.PK - News) today announced further progress on the development of its successful pilot plant operation in the Utah Tar Sands with its joint venture partner, Black Sand Energy Corp.
Since undergoing rigorous field testing and stabilizing from November, 2005 to the end of February, 2006, the joint venture partners' pilot plant project has been winterized as well as its support equipment, in order to maintain processing levels at colder temperatures. (See Press Release dated December 27th, 2005.) The pilot plant has since been moved a short distance away from the present operation, to one of the joint ventures' leases on Asphalt Ridge, where it is currently being assembled for production. A heating coil has been installed to minimize the accumulation of condensed water. A hydraulic motor has been installed on the plant's lower steam bowl to improve the removal of sand from the bottom of the wash chamber. Two basket-type devices have also been constructed to improve the heat transfer in the flash evaporator, and a conveyor system, complete with a remote-operation software program, has been set up.
An engineering firm has been commissioned to engineer the scale-up for two extraction units: the first one, a mobile unit to produce between 250-300 bbls per day, and a second, larger commercial unit that will produce 100 bbls per hour for an average daily output of 2000 bbls. (Annual production would be 800,000 bbls at 91% capacity.) The scaled-up plant is scheduled to be completed mid-2006. The joint venture partners' 4,190 acres in Asphalt Ridge are estimated to contain total recoverable oil reserves of 30,000 to 40,000 bbls per acre (DOE 1983 Estimates). In total, the joint venture partnership holds 11,535 acres in leases within the Utah Tar Sands areas of Asphalt Ridge, PR Springs and Sunnyside.
Nevtah and Black Sand Energy employ a proven, patented closed-loop solvent extraction technology to deliver oil at under $ 12.50 per barrel, including transportation costs. The technology was successfully demonstrated during a full-scale operation in Wyoming for one year, producing an average of 2000 bbls oil per day, as well as the current pilot plant project in Utah. This continuous flow system is totally closed loop and is very eco-friendly. It has near-zero solvent loss, produces minimal greenhouse gases and returns the cleaned-up sand to the environment, leaving the ecosystem in better-than-original condition. The highly scalable, patented technology works in locations that lack significant water resources and works efficiently on a wide range of host oil and sediment types. The result is a 99% oil recovery rate. Until now, the petroleum industry has not succeeded in finding a commercially viable process to recover oil from oil sands using conventional, solvent-based technology. With over a year of proven test results from a full-scale production plant, and from the current, successful pilot plant testing, the joint venture partners feel they now have a viable, efficient extraction system for the successful commercialization of the technology.
For more information, please visit the Company's website at: www.nevtahoilsands.com or contact Paul Davey, Investor Relations at: (778) 389-0915, Email: info@nevtahoilsands.com or Mr. Daniel P. Kesonen, President & CEO of Nevtah Capital Management at (561) 626-9901. Email: rlk@adelphia.net
Contact:
Contacts:
Nevtah Capital Management, Inc.
Daniel P. Kesonen
President & CEO
561-626-9901
--------------------------------------------------------------------------------
Source: Nevtah Capital Management Inc.