SOURCE: Planet Resource Recovery, Inc.

May 28, 2015 14:13 ET

Planet Resource Recovery Completes PetroLuxus™ Application Training to Mexican Companies in the Oil Sector

HOUSTON, TX--(Marketwired - May 28, 2015) -  Planet Resource Recovery, Inc. (OTC PINK: PRRY) is pleased to announce the successful completion of presentations and training to four different entities from Mexico on the use of PetroLuxus™ products in Mexico. The presentations and application training were held in San Antonio, Texas on May 23 and 24. The application training encompassed: 1) PetroLuxus WC for the treatment of mature oil wells and waterfloods, 2) the use of PetroLuxus HC for the cleanup of oil spills, tank bottoms, sludge pits and pre-refining of heavy crudes, and 3) the use PetroLuxus H2S Scavenger on degassing oil storage tanks and natural gas production.

In August2014, Mexican President, Enrique Pena Nieto signed into law Mexico's historic energy reform bill that will allow foreign companies access to oil & gas fields in the country. Additionally, the new law permits domestic private oil & gas firms to operate in direct competition with PEMEX. Prior to the law, private companies were only allowed to do work for PEMEX under service agreements.

The companies present at the application training have all provided services to PEMEX in the past. They represent the three main sectors of the Oil & Gas sector in Mexico; South, Central and North regions. These companies have provided PEMEX services such as down oil treatments, Oil tank storage cleanup, Environmental Cleanup, heavy crude pre-refining, etc.

Enrique M. Salinas, III, President & CEO of Planet Resource, commented, "Mexico presents a huge opportunity for the PetroLuxus™ products. These private firms that attended the meeting have all worked in the Mexican Oil sector for years. After the presentation, the Mexican private entities expressed their belief that PetroLuxus products will greatly enhance their ability for down oil treatments, clean oil tanks, clean, lubricate and protect equipment, pre-refine heavy crude oil, and do it both economically and environmentally safe. One attendee anticipates becoming a dealer immediately upon legal counsel's review and approval of Planet Resource Recovery dealer agreements. We look forward to working with all of the attendees in the near future."

About Planet Resource Recovery, Inc.

Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the earth friendly products of the PetroLuxus™ Technology Platform which currently include the PetroLuxus™ family of products for the Oil & Gas industry and nontoxic AquaLuxus treatment for the water industry. For more information visit: www.planetresource.net.

Safe Harbor Statement

Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2009, the Company's Quarterly Report for the First quarter ended March 31, 2014. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

Contact Information

  • Contact:
    Planet Resource Recovery, Inc.
    281-213-5622