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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(TM) 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(TM) 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.
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Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of
the PetroLuxus(TM) Technology Platform which currently include the NSF/ANSI
Standard 60 Certified PetroLuxus(TM) 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.
Contact:
Planet Resource Recovery, Inc.
281-213-5266