SALT LAKE CITY, March 31, 2017 /PRNewswire/ -- Red Leaf Resources, Inc., a Delaware corporation with headquarters in Salt Lake City, Utah and TOTAL E&P USA Oil Shale, LLC ("TEPOS"), have reached a mutual agreement under which TEPOS has exited the oil shale development project at the Seep Ridge site in eastern Utah, a project that Red Leaf and TEPOS had jointly pursued since the spring of 2012.
With TEPOS' exit, Red Leaf has slowed the progress of the project while it considers its options for both continued development of the Seep Ridge project and other opportunities to further advance its EcoShale® technology, a patented process by which hydrocarbons are produced from oil shale.
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SOURCE Red Leaf Resources, Inc.