HOUSTON, March 24 /PRNewswire-FirstCall/ -- SulphCo, Inc. (the "Company") (AMEX:SUF) reported today that it has shipped Sonocracking(TM) units having a processing capacity of 90,000 Bbl/Day from Fujairah, UAE to Singapore. This follows the announcement last month of an order procured through Pt. Isis Megah ("Isis"), the exclusive distributor for the Company in the sales territories of India, Malaysia, Singapore and Indonesia, for Sonocracking(TM) units having a processing capacity of at least 30,000 Bbl/Day. The Company has no present plans to reposition the remaining 90,000 Bbl/Day of Sonocracking(TM) capacity located in Fujairah.
"The 30,000 Bbl/Day customer order is conditioned upon the execution of an operating agreement among the parties, the principal elements of which have already been negotiated," said Dr. Larry Ryan, CEO of the Company. He noted that, "Meetings are scheduled later this month and into the first part of next month, by which time we hope to have a signed operating agreement." The decision to reposition 60,000 Bbl/Day of Sonocracking(TM) capacity to the region, in addition to the 30,000 Bbl/Day of capacity shipped pursuant to the customer order, he said "was based not only on our belief in the strong potential for an expanded relationship with this customer, but also to allow us to strategically respond to future growth opportunities in this region." Clay Chambers, COO of the Company, commented, "Overall, the synergies between this customer's needs and the Company's patented Sonocracking(TM) technology are extensive. Besides sulphur reduction," he said, "there is significant upside potential at the customer's refineries with respect to crude utilization rates, improvement in the quality of crude fraction streams and the ability to run lower grade crudes." Chambers added, "Once our initial 30,000 Bbl/Day unit is installed and performing properly, an expanded relationship with this customer is very likely to develop." The Company will provide further progress reports as the installation and startup of this project moves forward.
About SulphCo, Inc.
The Company has developed a patented safe and economic process employing ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The Company's technology is designed to upgrade sour heavy crude oils into sweeter, lighter crude oils, producing more gallons of usable oil per barrel.
About Pt. Isis Megah Pt. Isis Megah is an oil and gas services company serving the needs of the energy industry in Indonesia since 1991. The company provides blow out preventers, heat exchangers, pumps, rigs, filters, and other process equipment to crude oil processing facilities and has earned a reputation in the industry for quality workmanship, dependable service and customer satisfaction. Pt. Isis Megah is committed to compliance with all applicable quality standards, health, environment, and safety -- HES Standards (national and international), laws and regulations and to adherence to the highest ethical standards in the conduct of its business.
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly. DATASOURCE: SulphCo, Inc.
CONTACT: Adam Mazur of Rubenstein PR, +1-212-843-8073, , or Tim Clemensen of Rubenstein IR, +1-212-843-9337, , both for SulphCo, Inc.
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