SOURCE: ACT Clean Technologies, Inc.

May 18, 2010 06:00 ET

ACT Clean Technologies, Inc. Oil Fluidizer to Be Used to Enhance Oil Production in Texas Wells

HUNTINGTON BEACH, CA--(Marketwire - May 18, 2010) -  ACT Clean Technologies, Inc. (PINKSHEETS: ACLH) (www.actcleantech.com) announced today that it has completed a Letter of Intent to enter into a Joint Venture with Weekley Energy Group I, LP and its General Partner, Left Behind Recovery, LLC, to utilize ACT's oil sludge fluidizer to work-over and recondition two (2) wells in the Austin Chalk formation in the State of Texas. The agreement, once finalized, will provide an ongoing working interest in the wells for ACT, if the work-over and reconditioning efforts are successful, and the opportunity to continue the joint venture relationship for additional wells.

"Preliminary indications are that this is an excellent use of our oil sludge fluidizer to enhance recovery of marketable hydrocarbons, further expanding our market, and opening the door to opportunities throughout the oil patch," commented ACT Clean Technologies, Inc. CEO, Russell Kidder.

About ACT Clean Technologies, Inc.

ACT Clean Technologies, Inc. and its wholly owned subsidiary, American Petroleum Solutions, Inc., (APS) are committed to both a safer environment through cleaner technologies as well as more profitable methods of oil recovery and production from oil sands and other petroleum reserves. Previous APS clients using its technologies have included some of the largest oil and gas companies in the US, including Conoco Phillips, Exxon Mobil, Avon Petroleum, Valero Petroleum, and BP (British Petroleum) as well as the US Navy Petroleum Reserve.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," 'expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a disclosure made by the Company.

Contact Information

  • ACT Clean Technologies, Inc.
    Ares S. Ionidis
    Director of Investor Relations
    877-299-5596 ext. 1001
    714-594-7549
    Email Contact