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Oct 08, 2008 -- Composite Technology Corporation (OTCBB: CPTC | Quote | Chart | News | PowerRating) is pleased to announce that its DeWind subsidiary has entered into agreements with Higher Perpetual Energy LLC to form DeWind SWI Wind Farms, LLC, (SWI Wind Farms) to develop four wind farms in Texas totaling up to 620 megawatts of electrical energy capacity.
SWI Wind Farms plans to develop four wind energy projects in the Texas panhandle consisting of Little Pringle One (10 MW), Little Pringle Two (10 MW), Big Pringle (200 MW) and Palo Duro (400 MW). DeWind, Inc. intends to supply wind turbines to the projects at agreed upon prices, subject to cost escalators, and Higher Perpetual Energy is committing to perform further development services. The projects should generate in excess of 2 billion kilowatt-hours of clean energy per year when they are completed.
DeWind has begun discussions with certain investors that have expressed interest in participating in the wind farm projects in exchange for ownership positions, tax benefits, and income from the power sales. DeWind initially will be the 51% controlling member of SWI Wind Farms and SWI Wind Farms has made arrangements with contractors to begin construction of the first 10 MW farm.
"We are excited about this new opportunity to supply our DeWind turbines for 620 megawatts of wind farms and look forward to participation in the enhanced value of the projects as they progress through each stage of development," commented Benton Wilcoxon, CEO of Composite Technology. "We see SWI Wind Farms as an opportunity to leverage our turbine supply and secure the opportunity to add value through development that should effectively increase the margin for each turbine produced and sold into the wind farms."
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative high performance electrical transmission and renewable energy generation wind turbines through its subsidiaries:
-- DeWind Inc. designs, produces, and sells the DeWind series of wind energy turbines, including the new 2 megawatt (MW) D8.2 model available in both 60Hz and 50Hz; the 2MW D8 model in 50Hz; and the 1.25MW D6 model in 50Hz. The new D8.2 has been operating since early 2007 at Cuxhaven, Germany, and utilizes the advanced WinDrive(R) hydrodynamic torque converter developed by Voith AG in combination with a synchronous AC generator with high voltage output that is connected directly to the grid without the use of power conversion electronics. The first 60Hz D8.2 is now operating at Sweetwater, Texas, where it will initially be used for demonstration to North American customers. DeWind D8.2 turbines are now being assembled at TECO Westinghouse Motor Co., in Texas for our North and South American customers.
-- CTC Cable Corporation produces composite rod for use in its patented ACCC* (Aluminum Conductor Composite Core) conductors, which are "high efficiency conductors" for use in electrical transmission grid systems.
ACCC conductors demonstrate less electricity line losses when compared with conventional conductors and when deployed in place of conventional conductors on existing systems, the higher efficiency of ACCC conductors enables power generators to reduce the amount of power they must generate while still delivering the same power to the customers. They have also demonstrated significant savings in upgrade capital costs and operating expenses when substituted in grid systems for other conductors. ACCC conductors enable grid operators to reduce blackouts and brownouts, providing a 'reserve electrical capacity' by operating at higher temperatures without significant thermal sag of the lines. ACCC conductors are an innovative economical solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite core is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.
*ACCC is a trademark of CTC Cable Corporation
Oct 08, 2008 -- Force Energy Corp. (OTCBB: FORC | Quote | Chart | News | PowerRating) (hereafter "Force", "the Company"), is pleased to provide the following update on the Diamond Springs Prospect.
Force Energy Corp. retained the services of North Coast Resource Development (NCRD) in August of this year to advance the operations of the Diamond Springs Prospect. Since, the Company has hired the services of Hawkeye Geosensing to provide satellite imagery and high-resolution maps for the purpose of due-diligence, drill site selection and to minimize risk. Hawkeye believes the maps and information should be ready in the coming days.
Also with the help of NCRD, the Company has signed an agreement with Continental Production Company, LLC to perform all drilling and field operations of the Diamond Springs Prospect. Continental is a Wyoming based company committed to responsible and economic operations in the Rocky Mountain Region. Continental Production Company was formed in 1995 and brings over 160 years of combined Oil & Gas production experience into the field for Force Energy.
"We have made excellent progress in two months!" said Rahim Rayani, CEO of Force Energy Corp. "The pieces of the Diamond Springs puzzle are coming together and we look forward to the results and mapping by Hawkeye Geosensing to plan our upcoming drill program."
Diamond Springs Prospect
The Diamond Springs Prospect comprises 3,300 acres of prospective oil and natural gas property in Fremont County, Wyoming. Independent geologic work has concluded that the property has the potential for 4.3 million barrels of oil, with revenue potential of over $400 million at current pricing, with most expected to occur in shallow wells at depths of less than 1,000 feet.
About Force Energy Corp.
Force Energy Corp. is an Oil & Gas Exploration and Development Company based in Denver, CO with a focus on Wyoming. Using a geology-based methodology, the US Geological Survey estimate a mean of 2.4 trillion cubic feet of undiscovered natural gas, a mean of 41 million barrels of undiscovered oil, and a mean of 20.5 million barrels of undiscovered natural gas liquids in the Wind River Basin Province of Wyoming. They further estimate a mean of 84.6 trillion cubic feet of undiscovered natural gas, a mean of 131 million barrels of undiscovered oil, and a mean of 2.6 billion barrels of undiscovered natural gas liquids in the Southwestern Wyoming Province. Force Energy Corp. has entered into LOI's to drill and develop two prospects located within each of these prolific areas. The Company's shares are publicly traded on the OTCBB under the ticker symbol FORC.
Oct 08, 2008 -- Planet Resource Recovery, Inc. (PINKSHEETS: PRRY | Quote | Chart | News | PowerRating) is pleased to announce the continued treatment of additional wells and the maintained oil production of pilot wells treated in February through September 2008. Production rates posted with the Texas Railroad Commission website continue to show increased production is being sustained after only one treatment with PetroLuxus(TM). The Company continues to treat new wells while it monitors outputs of the original wells treated and their significant increases of oil production in the Austin Chalk formation. This update demonstrates the continuing longevity and effectiveness of PetroLuxus(TM).
Planet Resource Recovery, Inc. commenced working with an AMEX listed oil production company in January 2008, with the goal to treat a series of wells to increase oil production with its down hole treatment products. The company's wells are situated in the Austin Chalk formation in Texas. The selected primary pilot oil well had dramatically declined in production since being brought back online in September of 2007. This well's oil production had slipped in production from over 750 barrels of oil per month to less than 85 barrels of oil per month.
After the PetroLuxus(TM) treatments were performed in the Spring of 2008 increased oil production was realized within two weeks, which was extremely encouraging as porosity in the Austin Chalk is some of the lowest in any formation. Oil production at the selected PetroLuxus(TM) treated wells for February through July 2008 has been significantly improved. Since treatment, not only has oil production been revitalized but improved equipment efficiency has been realized, allowing for less down time due to equipment failure.
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the PetroLuxus(TM) family of products, a proprietary environmentally friendly chemical compound that dislodges oil in practically all natural and man-made environments. The PetroLuxus(TM) family of products are effective and efficient solutions for the remediation and recovery of petroleum-based products. PetroLuxus(TM) applications include Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm cleaning, marine ship cleaning, remediation of oil sludge pits, treatment of raw fuel feedstocks, waste oil segregation and biodiesel, to name a few. Through the acquisition and formation of wholly owned subsidiaries, Planet Resource Recovery, Inc. deploys the PetroLuxus(TM) products. Oil Recovery Ventures, Inc. deploys PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery market.
Oct 07, 2008 -- Sino Express Travel Limited (OTCBB: SXPT | Quote | Chart | News | PowerRating) announced that it has signed a Memorandum of Understanding to acquire the right to manage a 160-room hotel in Macau for 10 years. The total consideration of US$2,500,000 is expected to be settled by issuance of restricted common shares of SXPT at US$0.15 per share. Construction and furnishing installations of the Macau hotel are at the final stages with a target completion by the end of this year.
Macau, a former Portuguese colony, is a special administrative region of China and it is situated 60 kilometers southwest of Hong Kong in the coastal region of south China. Macau's economy is largely based on tourism and casino gambling; the gambling revenues from Macau's casinos made news in 2006 by surpassing those of Las Vegas strip. The Macau hotel is located within minutes from several casinos such as Casino Lisboa, Wynn Macau, Sands Macau and MGM Grand Macau. Sino believes the hotel in the vibrant market of Macau will add great value to its growing portfolio of hotels and attractions.
About Sino Express Travel Limited
Sino Express Travel Limited is an investor and developer of scenic spots and tourist destinations in China. Sino intends to grow its business by acquiring and operating a diversified portfolio of resort hotels and tourist attractions. It plans to search for good value targets at suitable locations in China with high potential for further development in the areas of scenic, cultural and historical extensions.
Oct 08, 2008 -- Vault Technology, Inc. (OTCBB: VULT | Quote | Chart | News | PowerRating) today announced that it has signed a non-binding letter of intent to acquire Digital Media Invention, LLC. Digital Media Invention (DMI) is an intellectual property and patent portfolio management and licensing firm.
"We are excited to be able to add Digital Media Invention and their patent portfolio to our groups operations," said Nick Arroyo, President and CEO of Vault Technology. "This acquisition will form the basis of our technology solutions group as previously announced. Their proven process for capturing, acquiring, and licensing intellectual property will be of tremendous value to our technology solutions unit."
Over the past couple of years, DMI has accumulated a number of patents and intellectual property rights for products and services related to consumer goods, electronics, and digital media distribution. DMI has developed a methodology for searching, negotiating, acquiring, enforcing, and licensing intellectual property and patent rights. The company has experience in evaluating whether products and/or processes infringe on the intellectual property rights owned by clients and effectively researching market viability and commercialization opportunities.
About Digital Media Invention, LLC
Digital Media Invention is an intellectual property and patent portfolio management and licensing firm. The company focuses on a methodology for searching, negotiating, acquiring, enforcing, and licensing intellectual property and patent rights.
About Vault Technology, Inc.
Vault Technology, Inc. is a resource exploration and development company focusing on its uranium project in the Wollaston domain of North Eastern Saskatchewan, Canada. In addition, Vault is exploring other opportunities in the products and services arena related to audiovisual systems integration, home theater systems and digital media. Vault is actively engaged in the development of breakthrough strategies for the next generation of enterprise system solutions.
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