STWA Investor Brief on Testing at Naval Petroleum Reserve No. 3
Overview of Pending Harsh Environment Testing at U.S. Department of Energy's RMOTC
SANTA BARBARA, CA--(Marketwire - September 28, 2010) - STWA, Inc. (
The Investor Brief provides a summary and overview of the upcoming tests to commence at the U.S. Department of Energy's RMOTC facility within the Naval Petroleum Reserve No. 3 (NPR-3) located 35 miles north of Casper, WY.
The Investor Brief can be found at the following link:
http://www.stwa.com/STWA/whitepapers/RMOTC-STWA-AOT-Deepwater-Testing-Brief.pdf
The Harsh Environment Facility is functionally described as "Deepwater on Land." Located at the Naval Petroleum Reserve No. 3 (NPR-3), the facility was constructed in 1999 in order to recreate subsea temperatures and conditions for testing of new technology such as STWA's Applied Oil Technology ("AOT™"). STWA, Inc. aims to provide a turnkey solution to make petroleum transport providers and wholesalers more efficient and profitable, and the testing at this facility is to generate relevant technical data under controlled, field-scale conditions.
The data gathered from the testing provides information, which is used to determine value and pricing of STWA's Applied Oil Technology (AOT™) for the marketplace. The next steps are for the U.S. Department of Energy contractor field operations personnel to finish retrofitting parts of the testing facility to allow the testing to proceed, and the source manufacturer to finish building and rigorously testing the AOT™ prototype. Progress is being watched by interested parties in both the public and private sectors for the benefits that STWA's Applied Oil Technology (AOT™) can provide.
STWA CEO Cecil Kyte stated: "This Investor Brief was created to provide some insight and relevance for our investors and key players of what this important testing is all about. Use of this particular testing facility, which is able to simulate the harsh conditions experienced in the field, is very important for us. The data yielded from these upcoming tests is what our key potential customers want to see from us. We have prepared the testing process in conjunction with potential customers and source manufacturer and have set ourselves an ambitious timeline to deliver some, if not all of these results to them by the end of the year."
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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 September 28, 2010