CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

November 13, 2006 19:04 ET

CCR Technologies Ltd. Reports Third Quarter Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 13, 2006) - CCR Technologies Ltd. (TSX:CRL) (the "Corporation") (www.reclaim.com), a leading chemical purification technology solutions and service provider, today announced financial results for the period ended September 30, 2006.

For the three months ended September 30, 2006, the Corporation reported revenue of $2,452,000 resulting in a net loss of $840,000 as compared to revenue of $2,114,000 which resulted in a net loss of $325,000 for the same period in 2005. For the nine months ended September 30, 2006, the Corporation reported revenue of $7,039,000 resulting in a net loss of $2,023,000 as compared to revenue of $5,093,000, which resulted in a net loss of $2,027,000 for the same period in 2005.

Oleh Hnatiuk, the Corporation's CEO, commented that "Revenue for the year is up 38% compared to last year. These results reflect continued upturn in Reclaiming activity, ongoing Flow Assurance work on the Gorgon project and the start up of the mobile reclaiming project in Egypt. During the quarter CCR experienced little revenue from Egypt while incurring significant start up expenses. Revenue from the project in Egypt is expected to improve in the fourth quarter."

CCR Technologies is a technology solutions company focused on the purification of process chemicals and sweetening of sour gas through the use of proprietary patented technologies. The Company provides economic and environmental benefits to the upstream, downstream oil and gas industries, and is also pursuing new business opportunities in the petrochemical and international chemical purification markets.

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange under the symbol "CRL".

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond CCR's control, including: the impact of general economic conditions in Canada and in countries in which CCR and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualified personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. CCR's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits CCR will derive there from.

Contact Information

  • CCR Technologies Ltd.
    Oleh Hnatiuk
    President and Chief Executive Officer
    (403) 543-6699
    or
    CCR Technologies Ltd.
    Thomas Coyne, Vice President
    Corporate Development and Chief Financial Officer
    (403) 543-6699
    Website: www.reclaim.com