GRNO Reports Montana Location Now Producing and Exceeding Forecasted Oil Production Levels
August 16 2010 - 8:00AM
Marketwired
Green Oasis Environmental Inc. (PINKSHEETS:
GRNO), a Florida corporation, is pleased to announce its wholly
owned subsidiary, Custom Carbon Processing Inc. (CCP), reports its
Montana location is now producing and exceeding forecasted oil
production levels.
As previously reported, the Waldo Processing Facility is CCP's
newest site in which processing operations are taking place. This
site has been operating successfully since its inception a few
weeks ago, and is now producing oil greater than anticipated
levels. More ongoing modifications are being made to this facility
to ensure that processing operations can be maintained year round.
This site is located in the Sidney, Mt. area, and in Richland
County in which the Bakken formation has been found to run
through.
The Bakken formation is historically known for its high oil
content. The Elm Coulee Field is one location sitting on formation
which has gained national attention for high oil output.
In 2006, the field was pumping out 56,000 barrels per day from
approximately 350 wells, with an estimated ultimate recovery of 270
million barrels. A year later, the Elm Coulee field had become the
highest-producing onshore field in the lower 48 states.
To put that into perspective, Montana's oil production in 2003
averaged 53,000 barrels per day. In 2006, the Elm Coulee field was
responsible for almost 60 percent of the state's production that
year. CCP's facility located on this formation is anticipated to
continue to generate strong revenue heading into 2011.
"Drilling activity is crazy in this area, typical to the oil
boom of North Dakota that has been taking place over the last few
years. All of this activity should translate into large additional
slop oil volumes, and the need to dispose of it. I anticipate an
extremely busy end to this year, and incredible things to happen in
2011," stated VP of Research and Development - Matt Campbell
Green Oasis -- "Green today for a stronger tomorrow"
About Green Oasis Environmental Inc.
Green Oasis Environmental, Inc. (GRNO) is dedicated to acquiring
and providing access to world class technologies available today
and has chosen to focus its efforts on seeking acquisitions of
technology and/or operations concerning the remediation of slop
oil, waste engine oil, and tank bottom oils. GRNO has every
intention of becoming the single best option for reclaiming oil to
pipeline specification from these waste products. Through the
Company's state of the art technology, GRNO will be able to process
these waste products at one of their facilities or at a customer's
site by way of implementing its portable processing technology.
About Custom Carbon Processing Inc.
Custom Carbon Processing Inc. (CCP) is a Wyoming based Company
formed in 2006 that has been operating in the Gillette, Wyoming
area since its inception. Through the technology that CCP has
developed, CCP is able to process slop oil unrefined, non saleable
oil) into pipeline standard crude. Its first facility has proven
its capabilities to process up to 1,500 barrels of slop oil with a
conversion ratio of approximately 50% to finished crude. Through
its ongoing contract, CCP sells the processed slop oil to Shell
Trading (US) Company (www.shell.us). Shell Trading (US) Company is
a corporation that acts as the single market interface for Royal
Dutch Shell companies and affiliates in the United States with
offices in Houston, TX (headquarters); Dallas, TX; Denver, CO;
Midland, TX; and San Antonio, TX; and has an affiliated Shell
Trading company in Calgary, Alberta. Shell Trading buys and sells
more than five million barrels per day of hydrocarbons, is one of
the largest physical traders of hydrocarbons in the United States
and one of the world's largest energy trading companies.
In addition to its Wyoming facility, CCP is currently planning
expansion of its processing technology into Montana and North
Dakota, home of the Bakken (www.bakkenblog.com) and Three Forks
plays, said to be two of the largest oil plays in North
America.
For more information on Green Oasis Environmental, Inc. or
Custom Carbon Processing Inc., please visit
www.greenoasisenvironmental.com or contact Investor Relations at
(877) 207-3370.
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
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Contact: Investor Relations Taylor Capitol, Inc. Stephen Taylor
(877) 207-3370 Email Contact
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