STWA Inc. Schedules U.S. Dept. of Energy (DOE) Rocky Mountain Oilfield Testing Center Site Visit
Company Executing First Steps in U.S. Dept. of Energy Testing of AOT™ Technology for Oil Pipelines
SANTA BARBARA, CA--(Marketwire - September 2, 2010) - STWA, Inc. (
Management is scheduled to meet with representatives from the DOE's RMOTC and its source manufacturer to review pre-installation of the Company's AOT™ technology. The DOE is evaluating AOT™ to determine accurately its value to the pipeline industry.
"This meeting at RMOTC is the next step in our implementation strategy," stated Mr. Cecil Bond Kyte, Chairman and CEO of STWA, Inc. "Management will be accompanied by Dr. Tao, chief scientist, our source manufacturer and representatives of the DOE. We will be working to finalize testing protocols and determine variables that will be crucial to accurate testing of the prototype."
Mr. Kyte added, "Although our work is mostly non-transparent at this time, due to strict NDA's, we want to emphasize that we are on-track and things are moving as quickly as they can. Our decision to develop a full-scale AOT™ prototype prior to ELEKTRA™ is based on the number of variables that affect each technology. AOT™ is being developed first as its fundamental components are directly applicable using lab data and controls, ELEKTRA's current development utilizes certain aspects of AOT's architecture as an extension of AOT™ technology. This work with the DOE at RMOTC represents a tangible turning point for STWA, and as a shareholder myself, one who has never publicly sold a share, I am as confident as I have ever been," concluded Mr. Kyte.
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About the RMOTC
The Rocky Mountain Oilfield Testing Center (RMOTC) is an energy testing center that partners with industry to test new ideas and products that lead to increased recovery or reduced operating costs. RMOTC's test site is a 10,000-acre U.S. Department of Energy facility located within Naval Petroleum Reserve No. 3 (NPR-3), also known as Teapot Dome Oil Field, about 35 miles north of Casper, Wyoming. The RMOTC serves as a testing center for Independent Oil Producers, inventors, environmental companies, national laboratories, and government organizations. For more information on the RMOTC, please visit http://www.rmotc.doe.gov/
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 2, 2010