Exact Energy Resources Inc (EM)【EXER】株式ニュース

10-01-06 news, bout time they actually release something, anything lol

Date: 2006-01-10

CALGARY, Alberta--(BUSINESS WIRE)--Jan. 10, 2006--On behalf of Star Petroleum Corp. (PINK SHEETS:SPMP - News; the "Company") President Rod Burns, P. Eng., reports that the Company has elected to initially concentrate on the North American rights to the earlier described low-profile fluid catalytic cracker.

Mr. Burns commented, "The Company has previously reported on some the exciting advantages of the design of the new low profile Fluid Cat Cracker. In addition to significant capital cost savings in the construction of refinery plant and equipment, the new design and technology provides greater operating and production efficiency, resulting in improved operating margins and productivity." He continued, "The decision to concentrate on the North American market is based on several key factors. The most apparent is that the US, while having approximately 300 refineries currently operational has not built a new refinery in over 30 years and is faced with an aging infrastructure. There is definitely going to be a need for new plant and equipment and this Technology represents not only a viable but compelling alternative."

"The recent increases in the price of oil have been as a result of increasing and escalating costs in all stages of production from well-head to the consumer at the pump. In this current climate where cost savings have become paramount, the combination of capital cost reduction and enhanced operating efficiency should generate serious interest within the industry." said Burns.

An opportunity the Company is very interested in pursuing relates to the application of the Technology in the processing of heavy oil from the Alberta Oil Sands, one of the world's toughest refining challenges. Current 2005 production is estimated at approximately 1 million barrels per day. Estimates for 2015 call for production of 2.7 million barrels per day. Burns noted, "Canada has the second largest oil reserves in the world, and is the single largest supplier of Oil and Gas to the United States, the world's biggest consumer. Anything that can enhance the scale and efficiency of production will make greater resources available and further reduce North America's dependence on foreign sources of oil from politically unstable regions."

About Star Petroleum Corp.

The Company is currently acquiring and venturing within the Oil and Gas sector. The initial focus and development will be on lower risk, high quality prospects which will provide the Company with a higher probability of success. Each of the projects currently under consideration will be described in greater detail in the near future.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Star Petroleum Corp. (PINK SHEETS:SPMP - News)

Contact:
Star Petroleum Corp.
Rod Burns
(877) 782-7583