Blue Water Petroleum Corp.
OTCQB : BWPC

Blue Water Petroleum Corp.

July 13, 2015 09:00 ET

Blue Water Petroleum Corp. Enters the US Oil Sludge Remediation Market

CENTENNIAL, COLORADO--(Marketwired - July 13, 2015) - Blue Water Petroleum Corp. (OTCQB:BWPC) announces that it will be entering the multi-million dollar oil sludge remediation market in the USA with its patented VEP microwave treatment technology. The Environmental Protection Agency (www.epa.gov) has estimated that 5,000,000 cu.ft of oil sludge is generated every year by crude oil production, and that there are millions of barrels of accumulated oil sludge existing in tanks and storage facilities. In a 2002 report, the American Petroleum Institute (API) estimated that there was 20.6 million barrels of oil production waste from E&P operations generated annually. Additionally, it is estimated that each oil refinery generates 30,000 tons of oil sludge annually. Oil sludge is a byproduct generated with production of heavy crude oil with a gravity less than 20 API, and laden with contaminants such as asphalt and paraffin. More information can be found at http://www.epa.gov/HPV/pubs/summaries/recpethy/c14755ca1.pdf.

BWPC was founded in 2009 and is based in Centennial, Colorado and focuses on innovative oilfield technologies that add value to crude oil, and on the acquisition, exploration and development of oil and gas properties. BWPC's microwave treatment liquefies, separates and upgrades crude oil sludges and creates a marketable product while substantially reducing hazardous environmental waste. A full description of the technology can be found on a Form 8K filed with the SEC, at www.sec.gov on June 24, 2015.

Forward-Looking Statements

Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Forward-looking statements in this release include that we are about to manufacture our products, we can compete in the energy storage business, and our products will provide an energy storage solution to industry. The Company's products involve detailed proprietary and engineering knowledge and specific customer adoption criteria, hence factors that could cause actual results to be materially different include that we may be unsuccessful in raising any additional capital needs that may arise; we may not have sufficient capital to develop, produce and deliver orders; orders that are placed may be cancelled; product may not perform as well as expected; markets may not develop as quickly as anticipated or at all; or that the productive capacity of the company may not be large enough to handle market demand. Further, we are reliant on certain key employees who may leave the Company and we may be unable to protect or defend our intellectual property. Investors are cautioned against placing undue reliance on forward-looking statements. Refer to all public filings and risk factors included in the 8-K, 10-Q and 10-K as filed with the SEC.

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