SOURCE: Planet Resource Recovery, Inc.

July 20, 2011 09:00 ET

Planet Resource Recovery, Inc. Enters Into Service Agreement With High Plains Oil, LLC to Treat Oil Wells With PetroLuxus™

HOUSTON, TX--(Marketwire - Jul 20, 2011) - Planet Resource Recovery, Inc. (PINKSHEETS: PRRY) is pleased to announce that it has entered into a Service Agreement with High Plains Oil, LLC to treat newly acquired oil wells in its portfolio with PetroLuxus. The Service Agreement executed on July 19, 2011 calls for Planet to evaluate, consult and perform PetroLuxus treatments on various assets acquired by High Plains Oil, LLC over the next 12 months.

Mr. Jeff Johnson, Managing Member of High Plains Oil, LLC, stated, "For the past three months I have worked with Planet Resource Recovery staff, visited their production facilities and researched the results of various oil wells which were treated by PetroLuxus. The results have been impressive. As High Plains Oil acquires additional oil assets, PetroLuxus can be meaningful in assisting High Plains to realize many benefits including:

1. Higher daily oil production
2. Reduced maintenance costs and
3. Reducing overall downtime

If successful, PetroLuxus has the potential to be a 'game changer' in the oil and gas industry."

"This service agreement represents a significant opportunity for Planet Resource to showcase the effects of PetroLuxus on a larger scale and numerous formations. We look forward to working with Jeff and his team at High Plains Oil," stated Enrique M. Salinas, President and CEO of Planet.

About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of PetroLuxus™, a Green Technology that maximizes hydrocarbon recovery in the Oil & Gas industry. Documented well history case studies indicate deployment of PetroLuxus technologies has helped Oil & Gas Operators reduce maintenance costs, decrease downtime and increase oil recovery. For more information visit: www.planetresource.net.

About High Plains Oil, LLC

High Plains Oil (www.highplainsoil.com) is a newly formed E & P company based in Fort Worth, Texas. High Plains Oil mainly focus' on acquiring oil producing assets with upside potential through developmental drilling and production improvements with technologies such as PetroLuxus. High Pains Oil assets include non-operated working interests, over-riding royalty interests and mineral interests throughout Texas.

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, 2010. 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
    Email Contact