U.S. Department of Energy Approves STWA, Inc. for Testing of New Oil Pipeline Technology
Full-Scale Tests of Company's AOT™ Product Prototype to Be Conducted at DOE's Rocky Mountain Oilfield Testing Center (RMOTC) U.S. Naval Petroleum Reserve #3 (NPR-3)
SANTA BARBARA, CA--(Marketwire - July 21, 2010) - STWA, Inc. (
The Rocky Mountain Oilfield Testing Center (RMOTC) has reviewed the subject Proposal and has agreed to participate as a team member once a grant that is on the table from a leading petroleum industry organization is awarded to STWA. Should funding be secured prior to the grant, regardless of source, and the prototype completed to specification, the RMOTC has also agreed that it will initiate testing at the earliest possible time.
RMOTC's in-kind contribution will be:
"We are excited that this is finally able to be made public," said Mr. Cecil Bond Kyte, Chairman and CEO of STWA, Inc. "Being able to test our technology with the Department of Energy at The Rocky Mountain Oilfield Testing Center will help provide the validation we seek to move forward. Government testing of our technology will provide credible results as to the effects and benefits our technology can have on increasing efficiencies. This is a solid step towards widespread commercialization. We anticipate further developments with some of the major partners from both the oil and oil services industry that are assisting in this effort as we advance toward commercial application of our technology."
About STWA, Inc.
STWA, Inc. (
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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 July 21, 2010