Planet Resource Recovery, Inc. Signs Distributor to Market PetroLuxus(TM) Products in Canada
July 31 2008 - 7:00AM
Business Wire
Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), is pleased to
announce that the company has executed a distributor agreement with
Joseph A. Khoury & Associates. Joseph A. Khoury &
Associates will distribute PetroLuxus� products in Canada with its
initial focus on enhanced oil recovery and well bore &
production string cleanup. Other target markets include oil sands
and soil remediation of Canada�s Oil & Gas industry sites with
environmentally friendly products. Joseph A. Khoury &
Associates was recently formed to solely distribute PetroLuxus�
products to Canada�s large oil & gas industry. Mr. Joseph
Khoury founded the company after successful testing of PetroLuxus�
products in various applications. Mr. Khoury has extensive contacts
in Canada�s Oil & Gas Industry that have previously performed
due diligence testing stating that PetroLuxus� products are
�excellent products that should provide fantastic results.�
According to Oil and Gas Journal (OGJ), �Canada had a reported
178.8 billion barrels of proven oil reserves as of January 2006,
second only to Saudi Arabia. However, the bulk of these reserves
(over 95%) are oil sands deposits in Alberta. The inclusion of oil
sands in official reserve estimates is not without controversy,
because oil sands are much more difficult to extract and process
than conventional crude oil. Canada sends over 99 percent of its
crude oil exports to the U.S., and it is one of the most important
sources of U.S. oil imports.� 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 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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