TSX Venture Exchange Symbol SNV-V
VANCOUVER, Nov. 15 /CNW/ - SONIC Technology Solutions Inc. ("SONIC" or
"the Company": TSX-V:SNV) reported that its heavy oil development program with
joint venture partner PetroSonic Energy Systems Inc. ("PetroSonic") will
advance to include third party evaluation of both the test results and the
A bench scale pilot test plant has been constructed at SONIC's
demonstration facility enabling initial tests of the Company's sonic generator
technology for the upgrading of heavy oil to commence. Preliminary results
indicate that enhanced deasphalting and vis-breaking may be possible. Based on
these findings the program will expand to include more comprehensive test work
and third party assistance in the analysis and evaluation of the test work.
PetroSonic has assembled a strong technical team to fast-track the
remaining test work required to fully evaluate the potential development of a
commercial scale pilot plant. The Company will now utilize third party
organizations experienced in heavy oil analysis and upgrading processes to
advance the program.
The development program is directed at a process capable of improving the
quality of heavy oil on a reasonably small scale suitable for field producers.
The yield, quality and API of heavy oil delivered to refineries and pipelines
can greatly impact the return rate of producers.
According to Schlumberger data, approximately 70% of current world oil
reserves are comprised of heavy oils and oil sand bitumen which require more
processing for both pipelines and refiners. Partial cracking to reduce
viscosity (vis-breaking), and deasphalting to remove sulphur, metals and
asphaltenes can greatly increase the value of heavy oils. The current
development could potentially improve yield, quality and costs.
SONIC also reported that the Company is now listed on the Frankfurt Stock
Exchange in Germany under the symbol FDR.GR.
SONIC develops and markets Sonoprocess(TM) technologies based on the
Company's core sonic generator technology in the energy, environmental and
industrial sectors. The Sonic Treatment System for the remediation of PCB
contaminated sites and wastes has been licenced internationally. In addition
to our joint venture with PetroSonic the Company recently entered into a
collaboration agreement with Shell Canada Energy Ltd. for the exploration and
development of improved oil sands processes.
This document includes forward-looking statements, including
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements concerning the potential benefits of Sonic's
technology, the potential for commercialization and future application of the
heavy oil upgrading technology, and other statements which are not historical
facts. When used in this document, the words such as "could," "plan,"
"estimate," "expect," "intend," "may," "potential," "should," and similar
expressions relating to matters that are not historical facts are
forward-looking statements. Although SONIC believes that its expectations
reflected in these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
For further information:
For further information: Adam Sumel, President and CEO, SONIC Technology
Solutions, Inc., Tel: (604) 736-2552 Or Email: email@example.com