Freedom Energy Confirms International Funding Received
FORT WAYNE, Ind., Feb. 29, 2012 /PRNewswire/ -- Freedom Energy Holdings, Inc. (Pink Sheets: FDMF) CEO Brian Kistler today confirmed that the company has received the funding to produce and ship KC 9000® for the previously mentioned Middle East trial.
Kistler stated, "The first trial tentatively set to take place in April 2012 has been moved up to early March. The purpose of this trial is to show the effectiveness of cleaning, oil covered, drill cuttings from wells being drilled on shore. The parties requesting the trial have funded all expenses of product, shipping, travel and lodging for me to attend this event. The location for the trial has not been disclosed to me at this time; however all plans are being coordinated through our agent in Dubai."
Kistler further stated, "There are approximately 1 million tons of drill cuttings that have been accumulated that are yet to be processed from this one location. The current cost of cleanup is $65 per ton. Using KC 9000®, costs show to come in under $50 per ton. Using this model would call for approximately 2 million gallons of KC 9000® to process the whole 1 million tons already accumulated. Moving forward the plan is to set up modular processing plants at the sight of the new wells being drilled so that the cuttings are able to be processed immediately which will save costs from transportation and storage of the cuttings."
"It is very rewarding to finally reach this point. When dealing with the foreign oil companies (which are all governmentally owned) it takes a great deal of perseverance and coordination to overcome the high degree of scrutiny and the barrier of entry. Thanks again to all of our shareholders for their patience," concluded Kistler.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (FDMF.PK) is a publicly traded company that specializes in the identification and development of technologies with commercial applications in the energy industry sector. The company's original primary focus is the commercial development of its proprietary, heavy oil technology. KC 9000®, a breakthrough technology, provides an effective and cost efficient system to enable heavy oil deposits to flow without heat. Recent research has developed and shown a new product SR-139 to be effective at breaking down asphalt shingles allowing the extraction and recovery of hydrocarbons.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
Contact: Brian Kistler CEO, 260-490-9990
Freedom Energy Holdings, Inc.
DME Capital LLC
SOURCE Freedom Energy Holdings, Inc.Back to top