SOURCE: Freestone Resources

October 30, 2009 10:30 ET

Freestone Announces Primary Focus on Its Environmentally Friendly EncapSol Oil Shale and Tar Sands Oil Extraction and Environmental Cleanup Technology

DALLAS, TX--(Marketwire - October 30, 2009) - Freestone Resources, Inc. (OTCBB: FSNR) announces today that the Company's primary focus is on the new proprietary, non-toxic and environmentally friendly EncapSol Oil Extraction and environmental cleanup technology in its exclusive world territories after the recent acquisition of Earth Oil Services, Inc.

EncapSol uniquely and cleanly breaks the molecular bonds that bind hydrocarbon (oil) molecules to sand, clay, rock, water and other materials, dislodging the oil for easier extraction, while leaving the sand, clay, gravel and water by-products free of hydrocarbon contaminants.

Freestone intends to form clean oil joint ventures with investors and industrial market-leaders to build, own, and operate mobile and fixed-site EncapSol Oil Recovery machines. These EOR machines will generate clean oil sales revenues, and create clean oil jobs in three distinct oil-recovery markets:

1. Oil Sludge Environmental cleanup

2. Enhanced Downhole Oil Recovery

3. Tar Sands and Oil Shale Extraction

While the oil industry's current heat-based oil extraction technologies have heretofore prevented commercial-scale tar sands and oil shale production in America because of strong environmental and political opposition to their heavy consumption of water, natural gas and their elevated emissions of CO2 and toxic tailing pond effluent waste -- EncapSol is a cost-effective and environmentally friendly closed-loop, zero-discharge process that does not consume water or natural gas nor emit any air or water pollution like its competitors.

In the upcoming weeks, Freestone will begin phase one tests of EncapSol as a downhole tertiary oil recovery injectant with the ultimate goal of dislodging the estimated 50% of oil remaining in America's declining and high water-cut oil well properties. These phase one tests will begin with Freestone-owned and third-party owned oil wells.

To see video demonstrations of the EncapSol solvent go to www.EncapSol.com/media and to see a video demonstration of a scaled-up EncapSol EOR machine go to www.EncapSol.com/tar-sands-and-oil-shale-extraction/

SAFE HARBOR STATEMENTS:

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • Contact:
    Freestone Resources, Inc.
    Clayton Carter
    Chief Executive Officer
    Phone Contact: 214.880.4870
    Email Contact: Email Contact