Petromin Resources Ltd.
TSX VENTURE : PTR

Petromin Resources Ltd.

October 10, 2006 14:27 ET

Petromin Signs Technical Cooperation Agreement With Alberta Research Council

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 10, 2006) - Petromin Resources Ltd. (TSX VENTURE:PTR) has recently signed an agreement with Alberta Research Council (ARC) in the application of ARC's CO2 sequestration technology and expertise in oil pools and deep coalbed for Enhanced Oil Recovery (EOR) and Enhanced Coalbed Methane Recovery (ECBM). Petromin will extend this technology to countries mainly in China and Indonesia and cooperate with local companies and governments in conducting CO2 related Enviro-Energy projects. The cooperation will involve Petromin, through joint venture cooperation with host countries, to implement pilot testing of CO2 EOR or ECBM to demonstrate the process is feasible and leading to Kyoto Clean Development Mechanism (CDM).

Through this agreement, Petromin will initially organize educational seminars promoting CO2 sequestration projects in China, which is currently one of the major CO2 emission countries. The focus of CO2 sequestration projects in China will be mainly in ECBM and EOR operations where both environmental and energy requirements are being met. ARC will provide its expertise and technology in identifying potential CO2 sequestration sites and suitability, and provide technical assistance to Petromin in designing and implementing CO2 sequestration projects. Commercial arrangements with local companies and government will be handled by Petromin.

Petromin is extremely excited about this cooperation and is in the final stage of negotiating with potential entities in China and Indonesia to implement its enviro-energy projects.

ON BEHALF OF THE BOARD

Kenny W. Chan, Co-Chairman and CEO


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Contact Information

  • Petromin Resources Ltd.
    Kenny W. Chan
    Co-Chairman and CEO
    (604) 682-8831
    (604) 682-8683 (FAX)
    Website: www.petromin.ca