Market Pulse Breaking News Alert for Wednesday, October 8, 2008: PRRY - Planet Resource Recovery Announces Treatment of Additio
October 08 2008 - 7:45AM
Marketwired
Market Pulse News Alert for this AM, Stocks to Watch are: Planet
Resource Recovery, Inc. (PINKSHEETS: PRRY), Bank of America
Corporation (NYSE: BAC), Imclone Systems Inc. (NASDAQ: IMCL) and
Microsoft Corporation (NASDAQ: MSFT).
Investors need to be watching Planet Resource Recovery, Inc.
(PINKSHEETS: PRRY) this AM! Planet Resource Recovery is the
developer and manufacturer of the PetroLuxus(TM) family of chemical
products. PetroLuxus(TM) is a proprietary, environmentally friendly
chemical that dislodges hydrocarbons (oil) in practically all
natural and man-made environments. PetroLuxus(TM) products can be
applied to multiple hydrocarbon recovery and production enhancement
applications including: separation and collection of hydrocarbons
in contaminated soil remediation, bio-diesel feedstock treatment to
promote separation of water and particulates, treatment for more
efficient separation and recovery of methanol, fatty acids and
glycerin in bio-diesel production, treatment of rheospectic
compounds produced from the use of oil based drilling muds to
recovery oil and reduce hazardous waste, down hole well stimulation
for enhancing oil production in marginal producing wells, cost
effective and environmentally friendly recovery of oil from Utah
tar sands, cost effective cleaning of storage tank bottoms and oil
recovery, oil recovery and remediation of sludge and tailing ponds,
treatment of heavy oil from removal of water and adulterates with
improvement to flow characteristics, to name a few. Through the
acquisition and formation of wholly-owned subsidiaries, PRRY
deploys the PetroLuxus(TM) products. RADA Technologies, Inc.
designs and engineers new mechanical processing equipment
proprietary to PetroLuxus(TM) products while simultaneously
providing fuel inventory management services reducing loss to
increase gain for its customers. Oil Recovery Ventures, LLC deploys
PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery
market. PRRY commenced working with an AMEX listed oil production
company in January 2008, with the goal to treat a series of wells
to increase oil production with its down hole treatment product --
PetroLuxus(TM) MMMF. The company's wells are in the Austin Chalk
formation in Texas. Oil production at the primary treated well for
February and March 2008 has been significantly improved with over
285 and 287 barrels, respectfully, of oil for each month, and
through April 21, 2008 the well has continued to average about ten
barrels of oil per day. PRRY recently announced the collaboration
between the company and Affordable Bio Feedstock of Florida aimed
at developing a process utilizing PetroLuxus(TM) products for the
separation and recovery of oils from waste trap grease materials
rendering an affordable, marketable grease feedstock for biodiesel
producers. Affordable Bio Feedstock has purchase commitments from
Biodiesel producers approaching 50 million gallons of raw feedstock
annually once the technology is developed and deployed. The
National Renewable Energy Lab estimates the US generates 495
million gallons of waste grease trap material yearly -- which does
not include millions of gallons of waste grease captured at
municipal water treatment plants. This quantity of raw feedstock
represents an estimated $25 million per year revenue stream for
Planet Resource Recovery. Planet Resource Recovery's pilot
manufacturing plant is operational with PetroLuxus(TM) ready for
commercialization. PRRY is dedicated to maximizing the recovery and
production of hydrocarbon resources reducing America's dependency
on foreign oil and minimizing the environmental impact of petroleum
based hazardous waste through ecologically responsible and
profitable remediation efforts benefiting clients, associates and
investors. Sales through a dedicated distributor network, design
and construction of specific applications processes, and
participation in joint ventures for enhanced profitability ensure a
strategy of introduction of the PetroLuxus(TM) family of products
to the widest audience. Planet Resource Recovery is poised to
become a significant player in the petrochemical/oil services
industry! PRRY just had excellent news out in a press release
before today's opening bell announcing treatment of additional
wells in the Austin Chalk formation. The company said it continues
to treat new wells while it monitors outputs of the original wells
treated and their significant increases of oil production in the
Austin Chalk formation! Investors should be watching this one
closely!
Planet Resource Recovery, Inc. (PINKSHEETS: PRRY) is pleased to
announce the continued treatment of additional wells and the
maintained oil production of pilot wells treated in February
through September 2008. Production rates posted with the Texas
Railroad Commission website continue to show increased production
is being sustained after only one treatment with PetroLuxus(TM).
The Company continues to treat new wells while it monitors outputs
of the original wells treated and their significant increases of
oil production in the Austin Chalk formation. This update
demonstrates the continuing longevity and effectiveness of
PetroLuxus(TM).
Planet Resource Recovery, Inc. commenced working with an AMEX
listed oil production company in January 2008, with the goal to
treat a series of wells to increase oil production with its down
hole treatment products. The company's wells are situated in the
Austin Chalk formation in Texas. The selected primary pilot oil
well had dramatically declined in production since being brought
back online in September of 2007. This well's oil production had
slipped in production from over 750 barrels of oil per month to
less than 85 barrels of oil per month.
After the PetroLuxus(TM) treatments were performed in the spring
of 2008; increased oil production was realized within two weeks,
which was extremely encouraging as porosity in the Austin Chalk is
some of the lowest in any formation. Oil production at the selected
PetroLuxus(TM) treated wells for February through July 2008 has
been significantly improved. Since treatment, not only has oil
production been revitalized but improved equipment efficiency has
been realized, allowing for less down time due to equipment
failure.
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.
Stocks in the news as of late include: Bank of America
Corporation (NYSE: BAC), Imclone Systems Inc. (NASDAQ: IMCL) and
Microsoft Corporation (NASDAQ: MSFT).
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Recovery, Inc. compensation from a third party shareholder: seven
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