Gulf Resources announces the completion of its first brine water and natural gas well field construction in Sichuan Province
January 11 2017 - 8:30AM
Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China, today announces the
completion of its first brine water and natural gas well field
construction in Sichuan Province.
The first step was to build and then pave a road in this highly
remote area to provide access for trucks and other heavy-duty
equipment. Next, we had to level the construction site and install
the foundations for the major equipment. Then we had to build
sheds to house the well head valve system.
We then installed the equipment needed to begin production
including the wastewater tank purification equipment, the
compressor, the exhaust vent riser, the control panel, and the
underground pipeline including power cable & control circuit,
among others with the existing well head valve system, as well as
finishing the production site and installing lighting.
Now that the construction of the site and the drilling equipment
is completed and finished testing, we are in the process of
securing our first customers for natural gas. We expect to be able
to begin trial production in the very near future.
Gulf Resources will place the Sichuan Project Presentation with
photos on its website today after market open on January 11, 2017
EST. For those who are interested may download and review it follow
the link below on company website:
http://www.gulfresourcesinc.com/resource-reserves.html
We are very excited about the opportunities for natural gas
production in Sichuan Province. China has limited supplies of
natural gas, which is a clean burning fuel. The government has
indicated its intention to promote the development of natural gas.
We are very pleased to have the potential opportunity to be a part
of this growth.
About Gulf Resources, Inc.Gulf Resources, Inc.
operates through four wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical
Industry Co., Limited ("SYCI"), Shouguang City Rongyuan Chemical
Co, Limited (“ SCRC”) and Daying County Haoyuan Chemical Company
Limited (“DCHC”). The company believes that it is one of the
largest producers of bromine in China. Elemental Bromine is used to
manufacture a wide variety of compounds utilized in industry and
agriculture. Through SYCI, the company manufactures chemical
products utilized in a variety of applications, including oil and
gas field explorations and papermaking chemical agents. SCRC is a
leading manufacturer of materials for human and animal antibiotics
in China and other parts of Asia. DCHC was established to further
explore and develop natural gas and brine resources (including
bromine and crude salt) in China. For more information, visit
www.gulfresourcesinc.com.
Forward-Looking StatementsCertain statements in
this news release contain forward-looking information about Gulf
Resources and its subsidiaries business and products within the
meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6
under the Securities Exchange Act of 1934, and are subject to the
safe harbor created by those rules. The actual results may differ
materially depending on a number of risk factors including, but not
limited to, the general economic and business conditions in the
PRC, future product development and production capabilities,
shipments to end customers, market acceptance of new and existing
products, additional competition from existing and new competitors
for bromine and other oilfield and power production chemicals,
changes in technology, the ability to make future bromine asset
purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their
entirety by this Cautionary Statement and the risks factors
detailed in the company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
CONTACT:
Gulf Resources, Inc.
Web: http://www.gulfresourcesinc.com
Director of Investor Relations
Helen Xu (Haiyan Xu)
beishengrong@vip.163.com
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