|September 03, 2013|
Petrosonic Energy Inc. Provides Shareholder Update
|Petrosonic Energy Inc. Provides Shareholder Update |
Petrosonic Energy, Inc. (OTCQB: PSON), an emerging leader in heavy oil upgrading and related technologies, is pleased to provide the following updates.
The engineering firm, Gas Liquids Engineering of Calgary, has completed third-party sonification tests in the Richmond BC facility. The results have been sent to a third party lab, Maxxam, in Calgary for separation and solvent recovery lab simulation. The results will be used to finalize the engineering and estimates of the asphaltene separation and solvent recovery equipment. We expect full results to complete by October 2013. We believe the final outcome of this process will also serve as a validation of our Sonoprocess technology and an important tool in our business development efforts with the heavy oil industry worldwide.
We are also pleased to report that our emulsion testing process in Albania is continuing successfully and that in addition to the successful first test and sale reported in our press release June 10, 2013 we are continuing to emulsify and provide product to our client. We are also in discussion with other clients to increase our production capacity and generate further revenues from our emulsion facility there and expect to report positively on that shortly.
Petrosonic Energy is also in discussions with several groups for licensing opportunities in several parts of the world and is currently pursuing those opportunities vigorously.
About Petrosonic Energy, Inc.
Petrosonic Energy, Inc. is in business to deliver innovative technologies to the energy sector. The primary focus is to provide technologies, which upgrade heavy oil economically and in an environmentally friendly manner. The Companys patented Sonoprocess uses clean-tech sonic energy to de-asphalt heavy oil at much smaller scale and lower capital costs than conventional upgraders and without the use of water or release of emissions in the atmosphere.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
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