Planet Resource Recovery Sells PetroLuxus(TM) WC to Hinto Energy, Inc. for Waterflood Project
September 30 2013 - 9:00AM
OTC Markets
Planet Resource Recovery Sells PetroLuxus(TM) WC to Hinto Energy,
Inc. for Waterflood Project
Planet Resource Recovery Sells PetroLuxus(TM) WC to Hinto Energy,
Inc. for Waterflood Project
HOUSTON, TX--(Marketwired - Sep 30, 2013) - Planet Resource
Recovery, Inc. (PINKSHEETS: PRRY) is pleased to announce that it
has sold PetroLuxus? WC to Denver-based Hinto Energy, Inc. (OTCQB:
HENI) for its first commercial waterflood project. A waterflood is
a form of secondary recovery whereby water is pumped into the oil
reservoir to force out additional oil that has ceased to flow under
its own pressure. The addition of PetroLuxus WC to the injected
water will stimulate increased initial and ultimate oil recovered
by reducing surface tension and improving oil flow characteristics
through the formation.
Hinto recently acquired the operating rights to approximately
520 acres located in Montana that will be water flooded to produce
additional oil.?The field's water injection well has just passed a
mechanical integrity inspection administered by a state inspector
and oil production is set to begin in October.
George E. Harris, CEO of Hinto Energy, commented, "We are
pleased to begin operating this new field and believe that the
addition of PetroLuxus WC will increase the total amount of oil
that is recoverable and our ultimate return on investment.?In
addition, we are excited about other beneficial effects of
PetroLuxus WC, such as reduced metal corrosion, remediation of
handling issues related to paraffin and asphaltenes, reduced water
injection pressure, as well as more efficient separation of oil
from water."
Enrique Salinas, President/CEO of Planet Resource, stated, "We
have always believed that PetroLuxus? WC is ideally suited as an
additive to be used to enhance production from oil fields that are
waterflooded. This opportunity to work with Hinto Energy will
enable us to demonstrate the increased value resulting from the use
of PetroLuxus WC in waterflood oil recovery. We look forward to
getting the results over the next several months."
About Planet
Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer,
manufacturer and marketer of the PetroLuxus? Technology Platform
which currently include the NSF/ANSI Standard 60 Certified
PetroLuxus? family of products for the Oil & Gas industry and
AquaLuxus for the water industry. For more information visit:
www.planetresource.net.
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of
1995: The statements in this presentation that relate to the
Company's expectations with regard to the future impact on the
Company's results from new products in development are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The results anticipated
by any or all of these forward-looking statements may not occur.
Additional risks and uncertainties are set forth in the Company's
Annual Report for the year ended December 31, 2011. The Company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the
Company's plans or expectations.
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