Petrostar Petroleum Reaches Commercial Milestone With DHT & ETH Technology Sale
Press release
Petrostar Petroleum Corporation is pleased to announce that Oilsands Quest Inc. of Calgary, AB, has purchased a DHT2C unit for their Axe Lake, SK doubling the number of units at their facility. The DHT technology is assisting Oilsands Quest in its development of the Province of Saskatchewan's emerging oil sands industry. Oilsands is a leader in the establishment of the Province of Saskatchewan's emerging oil sands industry, with major acreage permits and licenses in both Saskatchewan and Alberta. Their new DHT configuration (DHT2C) will address the specific needs required by Oilsands Quest, in particular their facility requires a DHT operating at 200-250 meters and with greater length heating rods and housing. In addition, the new unit will be a lighter skid mounted with telescoping mast and hydraulic controls making it a compact unit. This will enable the unit to be air lifted via helicopter providing access to additional locations over the large acreage of the project.
As previously announced in September 2008 the Company entered into a rental agreement with Oilsands Quest whereby Oilsands would test Petrostar's DHT (Down Hole Tool-DHT2) at their Northern Axe Lake, SK facility. The agreement has been extended an additional 3 months to May 2009 from the original September agreement
DHT & ETH Technology Review
The Down Hole Tool (DHT) is a system and method for generating controlled underground heat/steam and pressure. Specifically, the present invention relates to an electrical steam/heat generation system that enables efficient production of down-hole heating and steam production without the typical heat and pressure loss of traditional surface steam generation equipment. In addition to the DHT model for enhanced production deployment the Company will proceed with an additional model to address the waxing problem experienced in light oil production. A prototype is expected to be available for fieldtesting within the next 30 days.
The Electric Tank Heater (ETH) unit is capable of replacing current burner tube tank heating devices and has a zero CO2 emission signature, as well as being capable of reducing operating costs by using power generated from top drive motors and eliminating the fuel requirements of the burner units. Full CSA mass approvals are anticipated in April 2009, which will make the units available for installation at the manufacturing level as the alternative to current burner tube installations. More information on the DHT and its storage tank ETH is available on the Company website at www.petrostarpetroleum.ca.
For more information, please contact
Petrostar Petroleum Corporation
604-662-3005, ext. 105
thorgauti@petrostarpetroleum.ca
www.petrostarpetroleum.ca
Petrostar Petroleum Corporation is pleased to announce that Oilsands Quest Inc. of Calgary, AB, has purchased a DHT2C unit for their Axe Lake, SK doubling the number of units at their facility. The DHT technology is assisting Oilsands Quest in its development of the Province of Saskatchewan's emerging oil sands industry. Oilsands is a leader in the establishment of the Province of Saskatchewan's emerging oil sands industry, with major acreage permits and licenses in both Saskatchewan and Alberta. Their new DHT configuration (DHT2C) will address the specific needs required by Oilsands Quest, in particular their facility requires a DHT operating at 200-250 meters and with greater length heating rods and housing. In addition, the new unit will be a lighter skid mounted with telescoping mast and hydraulic controls making it a compact unit. This will enable the unit to be air lifted via helicopter providing access to additional locations over the large acreage of the project.
As previously announced in September 2008 the Company entered into a rental agreement with Oilsands Quest whereby Oilsands would test Petrostar's DHT (Down Hole Tool-DHT2) at their Northern Axe Lake, SK facility. The agreement has been extended an additional 3 months to May 2009 from the original September agreement
DHT & ETH Technology Review
The Down Hole Tool (DHT) is a system and method for generating controlled underground heat/steam and pressure. Specifically, the present invention relates to an electrical steam/heat generation system that enables efficient production of down-hole heating and steam production without the typical heat and pressure loss of traditional surface steam generation equipment. In addition to the DHT model for enhanced production deployment the Company will proceed with an additional model to address the waxing problem experienced in light oil production. A prototype is expected to be available for fieldtesting within the next 30 days.
The Electric Tank Heater (ETH) unit is capable of replacing current burner tube tank heating devices and has a zero CO2 emission signature, as well as being capable of reducing operating costs by using power generated from top drive motors and eliminating the fuel requirements of the burner units. Full CSA mass approvals are anticipated in April 2009, which will make the units available for installation at the manufacturing level as the alternative to current burner tube installations. More information on the DHT and its storage tank ETH is available on the Company website at www.petrostarpetroleum.ca.
For more information, please contact
Petrostar Petroleum Corporation
604-662-3005, ext. 105
thorgauti@petrostarpetroleum.ca
www.petrostarpetroleum.ca
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