SOURCE: Freestone Resources, Inc.

December 06, 2011 09:00 ET

Freestone Resources, Inc. Frac Water Recycling Update

DALLAS, TX--(Marketwire - Dec 6, 2011) - Freestone Resources, Inc. (OTCBB: FSNR) would like to update its shareholders on the progress of the joint venture, Freestone Water Solutions (FWS), which was recently formed with MEA Solutions, LLC to treat and recycle flowback water, as well as produced water for subsequent reuse in the fracking process.

Since the previous announcement, the FWS team has been working diligently to form strategic partnerships with oil and gas service companies to expand its service offerings by introducing water recycling. These discussions have resulted in pilot operations that will commence in January 2012. The operation of the first FWS unit will demonstrate the technology in several shale plays in order to develop additional strategic partnerships, and this unit will allow FWS to demonstrate the technology to certain financial partners as well.

"We have been working with MEA over the last couple of months in order to begin commercial operations of the frac water treatment technology," said Clayton Carter, President of Freestone Resources. "These activities include the preparation of detailed financial models and business plans, the collection, sampling and analysis of multiple frac and produced water samples, negotiations and discussions with strategic and financial partners, visiting with industry regulators, fine tuning the technology with our manufacturer, and visiting the various shale locations across the U.S. to name just a few. Logistically, we plan to have our first commercially viable unit on site demonstrating our ability to treat water next month, and shortly thereafter have our even larger capacity unit operational."

Freestone Resources will continue to update shareholders on the status of the first FWS unit's field operations, performance and financing activities.

About MEA Solutions, LLC:
MEA Solutions is a Houston, Texas-based company owned by Michael McGhan, Charles "Chet" Erwin and Gerald "Oj" Armstrong that consolidated their leadership and experience in the oil gas service industry with water resource, management and treatment services for industrial, municipal, and governmental authorities to address the growing issues facing the interdependent industries.

About Freestone Resources, Inc.:
Freestone Resources is a Dallas, Texas based oil and gas technology development company. The continuing goal of the Company is to develop new technologies that allow for the utilization of our vast resources in an environmentally responsible and cost effective way.

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 the commercial potential of the Oil Recovery Units and other 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.
    Don Edwards