Bayshore Petroleum Corp. Announces Letter of Intent With International Ultrasonic Technologies Inc. in Desulphurization of Hy...
12 2월 2014 - 7:15AM
Marketwired
Bayshore Petroleum Corp. Announces Letter of Intent With
International Ultrasonic Technologies Inc. in Desulphurization of
Hydrocarbon Using Ultrasonic Catalysis Process
CALGARY, ALBERTA--(Marketwired - Feb 11, 2014) - Bayshore
Petroleum Corp. ("Bayshore" or the "Corporation") (TSX-VENTURE:BSH)
is pleased to announce it has entered into a Letter of Intent
("LOI") with International Ultrasonic Technologies Inc., a private
technology company based in Carstairs, Alberta, Canada
(www.internationalultrasonics.com), which owns 9 U.S. patents and
equivalent worldwide patents related to the use of ultrasonic wave
in conjunction with a catalyst to desulphurize hydrocarbons. The
process involves passing a hydrocarbon stream through an ultrasonic
wave chamber with an added proprietary catalyst to separate sulphur
from the hydrocarbon in an economic manner. The traditional method
of reducing sulphur content of hydrocarbon streams using hydrogen
is expensive and energy intensive. The patented ultrasonic wave
process with catalyst is much more efficient and does not require
high temperature, high pressure or hydrogen. The patented process
has been field tested in different countries and successfully
reduced sulphur content of different processed petroleum products
including natural gas liquids (NGL), gasoline, kerosene and diesel
to less than 20 parts per million, which meets the ultra low
sulphur transportation fuel standards of many countries. Bayshore
believes this technology has the potential to provide additional
benefit to its planned heavy-to-light oil cold catalytic cracking
technology worldwide, and will contribute to upgrading raw, heavy
and sour crude oil directly into light, sweet product fuel.
Under the terms of the LOI, Bayshore has until July 31, 2014 to
enter into a binding agreement to secure the exclusive license to
the ultrasonic technology in Canada. The LOI also contemplates
Bayshore obtaining a 2-year option to acquire further exclusive
rights to this technology in other countries. The LOI contemplates
the execution of a formal agreement once terms and conditions are
finalized.
Bayshore is a Calgary, Alberta based corporation engaged in the
technology expansion applicable to heavy oil and other
unconventional oil resources. The Common Shares are listed on the
TSX Venture Exchange under the trading symbol "BSH".
Cautionary
Statements
Statements in this press release may contain forward-looking
information including expectations of future production, operating
costs, commodity prices, administrative costs, commodity price risk
management activity, acquisitions and dispositions, capital
spending, access to credit facilities, income taxes, regulatory
changes, and other components of cash flow and earnings. The reader
is cautioned that assumptions used in the preparation of such
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, a
result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the company.
These risks include, but are not limited to, the risks associated
with the mining industry, commodity prices and exchange rate
changes. Industry related risks could include, but are not limited
to, operational risks in exploration, development and production,
delays or changes in plans, risks associated to the uncertainty of
reserve estimates, health and safety risks and the uncertainty of
estimates and projections of production, costs and expenses. The
reader is cautioned not to place undue reliance on this
forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Bayshore Petroleum Corp.Peter HoChief Executive Officer and
President(403) 265-8820
Bayshore Petroleum (TSXV:BSH)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Bayshore Petroleum (TSXV:BSH)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024