SOURCE: Axial Vector Engine Corp.

September 09, 2009 06:13 ET

Axial Vector Energy Corporation JV Partner, Petrosonics LLC, Awarded Patent in Indonesia, the World's 19th Largest Crude Oil Producer and 22nd Largest Refiner

DUBAI, UNITED ARAB EMIRATES--(Marketwire - September 9, 2009) - Axial Vector Energy Corporation ("AVEC") (PINKSHEETS: AXVC) (FRANKFURT: BAE1) announced today that its PETRO AVEC JV partner, Petrosonics LLC, was recently awarded a patent in Indonesia, protecting the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain in force for 20 years.

According to the Oil & Gas Journal (OGJ), Indonesia had 4.3 billion barrels of proven oil reserves as of January 2007. Indonesian crude oils vary widely in quality, with most streams having gravities in the 22 to 37 degrees API (http://en.wikipedia.org/wiki/API_gravity) range. Indonesia's two main export crudes are Sumatra Light, or Minas, with a 35 API gravity, and the heavier, 22 API Duri crude.

In January 2007, Indonesia also had 992,745 bbl/d of refining capacity at 8 facilities, all of which are operated by PT Pertamina. The largest refineries are the 348,000-bbl/d Cilicap facility in Central Java, the 241,000-bbl/d Balikpapan plant in Kalimantan, and the 125,000-bbl/d Balongan refinery in West Java. PT Pertamina announced in August 2006 that it plans to spend $10 to $11 billion on boosting Indonesia's downstream sector over the next 5 years. As part of this effort, there have been various proposals to upgrade existing refineries or build new facilities, as well as to expand the country's transmission, distribution, and marketing network. A new refinery at Pare-Pare, Indonesia's first privately-owned refinery, will have a capacity of 300,000 bbl/d and is expected to be completed in 2010.

PETRO AVEC CEO Dr. Mark Cullen stated, "Indonesia's 4.3 billion barrels of proven oil reserves, probable reserves of an additional 5.79 billion barrels, eight refineries and ambitious plans for future facilities all bode well for PETRO-AVEC. We are pleased to add Indonesia to the growing list of countries offering intellectual property protection and look forward to working with them."

About PETRO-AVEC LLC

PETRO-AVEC LLC is a joint venture between AVEC and Petrosonics LLC to develop, finance and market Petrosonics sulfur removal technology globally. The joint venture is owned 60% by Petrosonics LLC and 40% by AVEC.

About Petrosonics, LLC

Petrosonics, LLC is a privately held, U.S. based oil refining and production technology company. Petrosonics' patented products and services utilize moderate power ultrasound energy in order to reduce sulfur, nitrogen, and trace metals in refinery intermediates and product streams. Intermediates and product streams receiving the Petrosonics treatment show reductions in oil density and viscosity, reduced hydrogen use/loss, and increases in API specific gravity and volume. The proprietary Petrosonics technology has additional application in treating and/or pretreating sour crude oils. Petrosonics was formed in 2001 by Mark Cullen, M.D. Dr. Cullen was previously the President and CEO of SulphCo. Today, Petrosonics has acquired and continues to expand its patent portfolio for all of the significant intellectual property associated with ultrasound assisted oxidative desulphurization of oil fractions and the upgrade and desulphurization of crude oil.

About Axial Vector Energy Corporation

Axial Vector Energy Corporation (AVEC) is a global solutions provider that owns, develops, invest in and licenses revolutionary technologies including, internal combustion engine and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international engine and energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.

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