SOURCE: Nevtah Capital Management Inc.

March 06, 2007 14:56 ET

Nevtah/Black Sands to Move Small Commercial Extraction Unit to Utah Oil Sands for Initiation of Production

BEACH GARDENS, FL -- (MARKET WIRE) -- March 6, 2007 -- Nevtah Capital Management (PINKSHEETS: NTAH) and its joint venture partner, Black Sands Energy, today announced that they have finalized arrangements to ship their small commercial oil extraction unit in March to Utah for the commencement of production. Utah's oil sands consist of 8 major deposits with a combined shallow oil resource of 32 billion barrels.

The joint venture partners' small commercial unit has successfully completed a series of engineering improvements, rigorous field testing, operator training programs and demonstrations to potential joint venture partners while on location in Oklahoma during the past ten months. Two key improvements in the extraction process include the dramatic reduction of pressure required to atmospheric levels, and the reduction in process temperature to moderate levels. The small-scale commercial extraction unit is capable of producing 12-15 bbls/hr., contingent upon the quality/consistencies of oil sands material and the length of daily operating times. The unit will be located on one of the partners' current leases in the Utah Oil Sands. The installation of this small commercial extraction unit represents an important benchmark for the Company in that it marks the first viable oil extraction process to go into production in the state of Utah.

This patented, closed-loop production process, which uses benign, non-toxic solvents, which are recycled in a closed-loop system so that both cost and environmental impact issues are dealt with, has been developed and enhanced since the late 1990s. The use of this unique system with its economic, non-toxic solvents combined with pressure and temperature is now ready for commercial application. Direct mining and extraction processing costs are estimated at $ 12.00 to $ 13.00 USD per barrel, which offers payouts similar to conventional oil drilling.

A recent issue of OilSands Review, a resource publication of OilWeek, summarized the Company's technology with the following: "Proponents say the closed-loop, solvent extraction process is small-scale, portable, flexible, low-cost, low-energy, low-manpower, low-emission, waterless, earth-friendly, easy-to-regulate, and leaves a small footprint, and has a rapid payout."

Fabrication of the Company's 2000 bbl/day extraction unit continues in Tulsa.

For more information, please visit the Company's website: or call Paul Davey at: 778-389-0915, Email:, or Daniel P. Kesonen, Chairman & CEO, 561-626-9901.

Nevtah Capital Management adheres to the provisions, regulations and specification of the Safe Harbor Act.

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