SOURCE: IO NewsWire

January 22, 2013 09:00 ET

Petrosonic Poised to Begin Production

Note to Editors: The Following Is an Investment Opinion Issued by the IO NewsWire

NEW YORK, NY--(Marketwire - Jan 22, 2013) - Petrosonic, an emerging leader in heavy oil upgrading and related technologies, recently announced that it has completed an equity financing of $3.1 million. The company anticipates the completion and start up of their commercial scale upgrading facility, using our proprietary Sonoprocess™ technology.

The recent rebound of crude prices has generated interest in oil fields previously deemed uneconomical. Some of the supply is being found in non traditional sources, the most common being Heavy Crude. These supplies have not been exploited because there was no need to do so. But due to the demand that is increasing every day, the heavier oil is now coming online.

Soaring worldwide demand, the oil world is facing an unprecedented change in production from light to Medium and Heavy Crude oil. This poses two problems. Medium and Heavy is much more detrimental to the environment than the light, and they both refine into less transportation fuel than the light with current refining technologies. The Sonoprocess™ system uses low-frequency, high amplitude, high energy acoustic waves to separate the heavy oil so that the heavier fractions containing asphalt, sulfur and heavy metals can be easily removed, virtually eliminating the need for the costly diluent additives required in conventional upgrading processes.

Other active oil producers are Exxon Mobil (NYSE: XOM), Marathon Oil (NYSE: MRO) and Murphy Oil Corp (NYSE: MUR).

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