SOURCE: Planet Resource Recovery, Inc.

March 17, 2015 14:11 ET

Planet Resource Recovery's PetroLuxus WC Shows Significant Oil Production in Marginal Wells

HOUSTON, TX--(Marketwired - Mar 17, 2015) -  Planet Resource Recovery, Inc. (OTC PINK: PRRY) is pleased to provide a PetroLuxus™ WC (Well Clean) update on marginal oil wells treated in Texas.

JBS Energy Solutions, LLC performed a PetroLuxus™ WC (Well Clean) treatment on a well located in Shelby County, Texas. The well was drilled and completed in June 1976 in the Saratoga (Austin Chalk type) formation at a depth of 2128 feet. The 2014 average annual production was approximately 1/3 of a barrel of oil per day. The well was treated with a solution consisting of 10 gallons of PetroLuxus WC and 320 gallons of native formation water injected into the well. JBS stated, "We also noted the well pressure on the backside has gone from 0 psi to 90 psi within the initial 12 hours of product exposure... the treatment had, in fact began re-pressurizing both the wellbore & the exposed formation."

The PetroLuxus WC solution was allowed to react within the formation for 5 days to allow for optimal product exposure. On the sixth day of treatment the well was brought back into full production and JBS further stated, "Pressure on the backside had increased to 200+ psi." The well is now producing 5-7 barrels of oil per day increasing production by 15 times its previous rate. PetroLuxus returned approximately $7000 in revenue in the first month.

Linkenhoger Energy, LLC performed a PetroLuxus™ WC treatment on an oil well located in Hardin County, Texas. This well was completed in November of 2013 in the Yeagua Sands formation at a depth of 3100 feet. The daily average production for 2014 was approximately 1 barrel of oil per day. The well was treated with a solution made up of 20 gallons of PetroLuxus WC and 500 gallons of KCL water. The PetroLuxus WC was allowed to react within the formation for 7 days. As stated by Linkenhoger, "Operator checked the pressure of the well (which normally averaged around 300 psi) & noticed it had increased to 600psi. Operator also noticed that there was "No More Stink" & it appeared that the treatment had eliminated all of the H2S & bacteria."

A recent report update states that the well production significantly increased and has been steadily producing for 4 consecutive weeks with approximately 6 barrels of oil a day. This is an increase of 600% in production. PetroLuxus WC returned approximately $7,500 in revenue in the first month. The operator stated he is a "true believer in PetroLuxus & is very impressed & intrigued with the results that have been seen thus far with only a limited amount of treatment exposure!"

Saxum Oil & Gas, LLC, an oil and gas operator, treated an oil well in Bee County, Texas. The well is in the Lucille Hockley sand at a depth of 3800 feet. This well was making approximately 1/2 a barrel of oil per day before treatment. The well was treated with a solution of 30 gallons of PetroLuxus WC and 600 gallons of field salt water. After the PetroLuxus WC treatment, the well is now producing 5 barrels of oil per day. This is a 10 times previous production. PetroLuxus WC returned approximately $6000 in the first month.

Mr. Robert Dougherty, III, managing partner at Saxum Oil & Gas, stated, "We believe that the treatment has been very successful and that at the current rate of 5 barrels of oil per day along with 4.5 barrels of water this rate will further improve once the trash has diminished. At the current price of oil of $45.00 this chemical is a game changer for Saxum Oil & Gas."

Enrique Salinas, President and CEO of Planet Resource Recovery, stated, "As oil producers slow their drilling activities due to low oil prices, they are being forced to squeeze more oil out of their existing wells. The PetroLuxus WC results of recently treated oil wells demonstrate that it can have a significant impact existing marginal wells."

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.
    281-213-5266