Higher Oil and Falling Crude Inventories Increase Value Proposition for STWA's Products
Company's AOT™ and ELEKTRA™ Technologies Could Lead to Cheaper Extraction and Transport Costs for Crude and Increased Efficiency for Fuel Oil Engines
SANTA BARBARA, CA--(Marketwire - February 23, 2011) - STWA, Inc. (
On Tuesday, oil prices soared reaching their highest levels in more than two and a half years as violence spread in Libya and Colonel Moammar Kadafi's grip weakened over the country as protesters demanded he step down. Light, sweet crude for March delivery soared $7.37, or 8.6%, from Friday to settle at $93.57 barrel on the New York Mercantile Exchange, the highest front-month settlement since October 3, 2008. With the expiration of the March contract, the more heavily traded April contract settled up $5.71, or 6.4%, at $95.42 a barrel. Brent crude added 4 cents to settle at $105.78 per barrel.
"The speed and capacity with which energy can be delivered and fuel efficiency increased are the key component drivers in today's energy production and industrial landscape," commented Mr. Cecil Bond Kyte, Chairman and Chief Executive Officer of STWA, Inc. "STWA's Applied Oil Technology (AOT™) has been proven in tests to reduce crude oil's viscosity. This can lead to more efficient oil transportation through pipelines on land and lower extraction costs and transportation for maritime pipeline operators. ELEKTRA™ works on the same principal. By reducing the viscosity of diesel fuel oil, fuel viscosity is significantly reduced and fuel flow is increased, resulting in improved fuel economy and reduced emissions in diesel engines."
Mr. Kyte added, "We are now in the process of testing a prototype of our AOT™ technology for at the U.S. Department of Energy's (DOE) Rocky Mountain Oilfield Testing Center (RMOTC) in Casper, Wyoming under contract with the Pipeline Research Council International (PRCI). This is an exciting development and we believe the development of an AOT™ product line has the potential to change how crude oil is transported around the world, resulting in significant cost savings and greater safety for pipeline operators as increased processing times allow for more downtime and maintenance."
About STWA, Inc.
STWA, Inc. (
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Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Released February 23, 2011