HOUSTON, April 5, 2013 /PRNewswire/ -- eCORP Stimulation Technologies, LLC ("ecorpStim"), a subsidiary of eCORP International, LLC ("eCORP"), today announced plans to deliver a propane-based technology which renders the propane stimulation fluid non-flammable. Patent application has been filed and further testing and experimentation of this technology has been initiated confirming its environmental safety and commercial viability.
ecorpStim has successfully demonstrated the use of pure liquid propane for the stimulation, or fracturing, of hydrocarbon bearing reservoir rock. The ecorpStim equipment design affords multiple layers of isolation and protection from the flammability risk associated with the use of propane and the production of natural gas, a stimulation process which is fully automated, remote controlled, and in which there is no human exposure to such risks. This latest innovation by ecorpStim will further ensure the intrinsically safe operation of the liquid propane stimulation process.
This advanced version of the technology that will be used by ecorpStim represent some of the latest developments being used in residential and commercial fire protection systems. Moreover, these fire suppressants are not harmful to humans and are environmentally safe with zero ozone depletion potential.
The use of liquid propane as an alternative to water for stimulating hydrocarbon production represents a natural and environmentally safe means of oil and gas extraction. By rendering the liquid propane non-flammable, ecorpStim has significantly reduced the safety risk of using propane for these purposes in applicable circumstances.
eCORP's Chief Technology Officer, Mr. Robert Lestz, commented, "This represents a major enhancement to non-aqueous alternatives to stimulating a shale reservoir. By utilizing propane, a fluid that originates in oil and gas reservoirs, we are minimizing damage in the reservoir while eliminating the need for any water usage and handling of water waste streams. And by making the liquid propane non-flammable, we further allay concerns some may have about the safety of the process."
Dr. John Thrash, eCORP's CEO and Chairman, stated, "We are extremely pleased with this very positive enhancement in ecorpStim's capabilities and safety features. We are dedicated to ensuring safety in all aspects of our operations, and continue to strive to provide superior options in terms of safety and environmental care and concern in our products and services.
The option of non-flammable liquid propane stimulation marks a landmark development in the path for sustainable "green" shale gas development. We intend to extend this design philosophy and demonstrate that a dramatically reduced impact can be achieved through combination with other innovations in drilling and exploration technologies that we are developing at eCORP."
About eCORP International, LLC – Founded in 1978, eCORP and its predecessor companies have extensive oil and gas experience including underground natural gas storage, natural gas transportation, enhanced oil recovery in conventional reservoirs using propane and butane, exploration for and production of conventional and unconventional (shale) reservoirs, electric power generation and marketing of electricity and gas. The company was an early mover in the Marcellus play in Pennsylvania and New York, USA and recognized its potential while developing its highly acclaimed Stagecoach Storage project in New York. The company has acquired multi-million prospective acreage positions internationally. The company's highly experienced management team expects to apply its broad background in hydrocarbon based development in deploying its field services fleet and related technologies in Europe, and globally, to develop its own portfolio, as well as selling its services to third parties as a standalone business unit. Stimulating with pure liquid propane with low-density proppants provides an excellent vehicle for the company to introduce an environmentally sensitive technology to allay concerns about excessive usage of fresh water and potential aquifer contamination as the process uses no water and propane is a gas at ambient pressure and temperature. www.ecorpintl.com
About eCORP Stimulation Technologies, LLC - The company ecorpStim (eCORP Stimulation Technologies, LLC) was created in 2012 to provide European countries, as well as those with limited water resources, with alternatives to hydraulic fracturing, based on pure home grade propane and without the use of chemicals. www.ecorpStim.com
This press release contains certain statements that constitute forward-looking statements under applicable securities legislation. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", or the negative of these terms or other comparable terminology. These statements are only as of the date of this document and we do not undertake to publicly update these forward looking statements except in accordance with applicable securities laws. Forward-looking statements are based on current expectations, estimates, projections and assumptions, which we believe are reasonable but which may prove to be incorrect and therefore such forward-looking statements should not be unduly relied upon. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: industry activity; the general stability of the economic and political environment; effect of market conditions on demand for the Company's products and services; the ability to obtain qualified staff, equipment and services in a timely and cost efficient manner; the ability to operate its business in a safe, efficient and effective manner; the performance and characteristics of various business segments; the effect of current plans; the timing and costs of capital expenditures; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its products and services. Forward-looking statements are subject to a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; the successful exploitation and integration of technology; customer acceptance of technology; success in obtaining issued patents; the potential development of competing technologies by market competitors; and availability of products, qualified personnel, manufacturing capacity and raw materials. In addition, actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth under the section entitled "Business Risks" in the Company's MD&A.
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