Bayshore Petroleum Corp. Announces Successful Heavy Oil Upgrading Pilot Test

Bayshore Petroleum Corp. ("Bayshore" or the "Corporation") (TSX VENTURE:BSH) is
pleased to announce that a pilot test of heavy oil upgrading using the Cold
Catalytic Cracking Process (CCC) has been successfully implemented in Beijing's
Laboratory Centre. The pilot plant, which has a capacity of more than 2,000 tons
annually, has been operated continuously and completed all the necessary tests
using the Extra Heavy Oil (10 API) imported from Meota Oil Field, Saskatchewan,
Canada by Bayshore. The test was witnessed by Chairman of China Petroleum and
Chemical Industry Association, Mr. Li Yongwu and the results were consistent
with the laboratory test and product recovery. The pilot test demonstrated scale
up of the CCC technology is viable and industrial test can be achieved.


Bayshore Petroleum Corp. is now working closely with the Laboratory Centre and
Saskatchewan companies and research institute to implement a similar pilot scale
demo plant in Canada. Bayshore believes the success of the pilot test is
revolutionary and as quoted by the inventor Mr. Cao Zhide, "We anticipate the
technology to be industrialized worldwide very soon and we are glad to implement
the first commercial plant in Canada with our Canadian partner."


Bayshore is a Calgary, Alberta based corporation engaged in new technology
development in the heavy oil industry. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bayshore Petroleum Corp.
Peter Ho
President and Chief Executive Officer
(403) 265-8820

Bayshore Petroleum (TSXV:BSH)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024