Planet Resource Recovery, Inc. Introduces Total Oil Well Clean Solution for Increased Crude Oil Production
January 10 2008 - 7:00AM
Business Wire
Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), developer,
manufacturer and marketer of the PetroLuxus� family of products, is
pleased to introduce PetroLuxus� WC-100 as the new and complete
solution for the cleanup of oil well equipment at the well site.
This new PetroLuxus� derivative product is an
environmentally-friendly solution for the vast oil well cleanup
market that is designed to increase oil production through
efficient operation of well site equipment. PetroLuxus� WC-100
provides a dramatic and economic revitalization of a well with the
realized cost savings of between 30-40 percent below current
conventional methods. PetroLuxus� WC-100 was specifically developed
based on results of the numerous treatments of oil wells with
PetroLuxus� MMMF � the company�s Enhanced Oil Recovery product that
increases oil production through stimulation of the formation.
Through the treatment of numerous marginal wells with PetroLuxus�
MMMF, it became evident that increased oil production results were
hindered due to oil flow restrictions in the production equipment.
The production equipment includes all of the components in contact
with the fluids being moved from the formation to the collection
tanks, such as pumps, down hole tubing, casing, aboveground piping
valves and fittings, and tanks. The equipment is affected daily by
age, contamination, treatment chemicals, scale, rust, paraffin,
asphalt, temperature, pressure, abrasion, and a host of other
issues that invariably affect the flow dynamics. Additionally, the
area adjacent to the well bore or the production zone acts as a
filtering area that accumulates particulate matter, paraffin, and
heavy hydrocarbon components that over time reduce or restrict the
amount of fluid that can flow. All of this adds up to reduced
production over time and increased operating cost for maintenance.
PetroLuxus� WC-100 was developed to address these issues on a cost
effective basis. The combination treatment utilizing PetroLuxus�
WC-100 to clean fluid flow restrictions followed by the formation
treatment with PetroLuxus� MMMF results in increased production of
marginal wells. According to the U.S. Department of Energy, �One
out of every six barrels of crude oil produced in the United States
comes from a marginal well - a well whose production has slowed to
10 barrels a day or less. About 80 percent of the total number of
U.S. oil wells are now classified as marginal wells. There are�over
400,000 of these wells in the United States, and together they
produce�nearly one million�barrels of oil per day, or about 19
percent of U.S. production.� For additional information on
PetroLuxus� WC-100 and treatment protocols, please visit:
http://www.planetresource.net/index-85.html About Planet Resource
Recovery, Inc. Planet Resource Recovery, Inc. is a holding company
spearheaded by its Petrochemical manufacturing unit that has
developed PetroLuxus�, a proprietary environmentally friendly
chemical compound that dislodges oil in practically all natural and
man-made environments. The PetroLuxus� family of products is an
effective and efficient solution for the remediation and recovery
of petroleum based products. PetroLuxus� 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, biodiesel,
to name a few. Through the acquisition and formation of
wholly-owned subsidiaries, Planet Resource Recovery, Inc. deploys
the PetroLuxus products. RADA Technologies, Inc. engineers new
mechanical processing equipment proprietary to PetroLuxus products
while simultaneously providing fuel inventory management services
reducing loss to increase gain for its customers. Oil Recovery
Ventures, Inc. deploys PetroLuxus� through joint ventures in the
Enhanced Oil Recovery market. For an audio/visual demonstration of
PetroLuxus�, click on the link
http://www.planetresource.net/index-21.html For more information
please visit www.planetresource.net or http://www.petroluxus.com
"Safe Harbor" Statement: Certain statements in this release are
"forward-looking" statements as defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
numerous risks and uncertainties. Actual results may vary
significantly from the results expressed or implied in such
statements. Factors that could cause actual results to materially
differ from forward-looking statements include, but are not limited
to, the Company's ability to meet the terms and conditions required
to obtain its project financing, risks and delays associated with
product development, risk of market acceptance of new products,
risk of technology or product obsolescence, competitive risks,
reliance on development partners and the need for additional
capital.
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