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Jul 31, 2008 7:00:00 AM
Copyright Business Wire 2008
HOUSTON--(BUSINESS WIRE)--
Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), is pleased to announce that the company has executed a distributor agreement with Joseph A. Khoury & Associates. Joseph A. Khoury & Associates will distribute PetroLuxus(TM) products in Canada with its initial focus on enhanced oil recovery and well bore & production string cleanup. Other target markets include oil sands and soil remediation of Canada's Oil & Gas industry sites with environmentally friendly products.
Joseph A. Khoury & Associates was recently formed to solely distribute PetroLuxus(TM) products to Canada's large oil & gas industry. Mr. Joseph Khoury founded the company after successful testing of PetroLuxus(TM) products in various applications. Mr. Khoury has extensive contacts in Canada's Oil & Gas Industry that have previously performed due diligence testing stating that PetroLuxus(TM) products are "excellent products that should provide fantastic results."
According to Oil and Gas Journal (OGJ), "Canada had a reported 178.8 billion barrels of proven oil reserves as of January 2006, second only to Saudi Arabia. However, the bulk of these reserves (over 95%) are oil sands deposits in Alberta. The inclusion of oil sands in official reserve estimates is not without controversy, because oil sands are much more difficult to extract and process than conventional crude oil. Canada sends over 99 percent of its crude oil exports to the U.S., and it is one of the most important sources of U.S. oil imports."