Energy Quest Signs Definitive Agreement With Cancen Oil Processors
Cancen to Provide Location and Feedstock for Testing Energy Quest 1000 Barrel per Day Heavy Crude Oil Upgrader Processing Plant in Alberta
Edmonton, AB--(Marketwire) - Energy Quest, Inc. ("EQI") (OTCBB: EQST), an emerging leader in alternative energy, announced today that it has signed an agreement with Cancen Oil Canada Corp. to provide testing facilities and feedstock for the testing phase of the construction of a 1,000 barrels per day heavy crude oil upgrader. The upgrader will convert Heavy Crude Oil feed-stock to 32 API and above light oil.
The Upgrader technology uses an electromagnetic field to align long chain hydrocarbon molecule chains, which are then subjected to ultrasonic energy waves. This process creates cavitation bubbles within crude oil, heavy oil, tank bottoms, or bitumen. With Energy Quest upgrader technology, the bubbles collapse at great temperature and pressure. The collapse of these bubbles causes the breaking of the long chain hydrocarbon molecules WITHOUT the need for external sources of heat and pressure used in current conventional processes. The overall process operates at lower temperatures and pressures which means that energy consumption is nominal and operating costs and maintenance costs are significantly reduced in comparison to other methods.
Energy Quest's innovative hydrogen generation technology referred to as the PyStR™ (pronounced "Pie Star") process will be combined with the EQI Upgrader. The PyStR process can directly produce separate streams of high purity hydrogen and CO2 from biomass, heavy crude, oil sands, coal, and petroleum coke. Hydrogen will be used in the upgrading process and CO2 for enhanced oil recovery. Energy Quest will also utilize the company's Fluid Bed gasification unit to provide power for the project. Gasification is a chemical and heat (thermo chemical) process used to convert solid materials into a gas for use as a fuel.
Energy Quest will provide the proprietary technologies, equipment and project management for the complete gasification plant and upgrader, while Cancen will provide the supply of oil to be upgraded during the testing process.
"We are pleased to being a part of introducing this environmentally friendly technology for the petroleum industries in Alberta and the benefits it will provide for the environment. We feel this is a major breakthrough in the petroleum industry and look forward to working with Energy Quest, Inc.," said Mr. Keith Talbot, President of Cancen Oil Canada Corp.
"We look forward to completing the construction of the first 1,000 barrel per day heavy crude oil upgrader and with the assistance of Cancen we will speed up, launch and commercialize the process and be able to test the operation before sending it to the field. In addition, any start-up problems will be resolved at the New Sarepta Cancen location. This will assist us in providing startup for the Deep Well 5,000 barrel per day plant which was previously announced. We will also invite to the site oil companies to view the technology giving us the ability to demonstrate that it is now possible to build low cost and efficient upgraders which produce no petroleum coke and no air emissions. Introducing a clean and green upgrader right here in Alberta where we have the world's largest heavy oil reserves, is good for Alberta and the entire oil industry," stated Wilf Ouellette, President and CEO of Energy Quest, Inc.
About Cancen
Cancen Oil Processors Inc. utilizes technology that has been proven across North America, to be effective in the highest range of oil/water/solids combinations in conventional and heavy oils. The three-stage process, ensures the material delivered to site will be handled, categorized and processed in the best possible manner. Oil Waste facilities have the tough job of processing off-spec oil and waste. In Alberta's current economy, oil industry is huge, and keeping it clean is a big job. Cancen Oil Processors is helping to keep oil waste disposal procedures above regulatory expectations. Cancen certainly has a great deal to offer, with significant capabilities. Cancen and its staff have over 20 years of experience in oil waste processing, and they fully conform to ERCB regulations. Cancen is striving to create a value for used oil through its three-stage process, including on-site safe disposal of used water. Cancen uses a specialized process to clean this oil, which enhances the value in the market place. Cancen specializes in general cleanup and disposal of slop oil, tank bottoms, and crude treatment; Cancen is helping to ensure used oil is prevented from entering ecosystems. Also, recovering the value of used oil, by custom treating crude and custom blending into high quality, saleable oil. Cancen utilizes technology that has been proven across North America, to be effective in the highest range of oil/water/solids combinations in conventional and heavy oils. The three-stage process ensures the material delivered to site will be handled, categorized and processed in the best possible manner. Alberta is an excellent place for oil business, and environmental stewardship is an important trend that oil businesses must follow, now and for the future. For more information visit www.cancenoil.com
About Energy Quest
Energy Quest, Inc., a Nevada corporation, with its subsidiaries WaveChem Inc. (www.wavechem.com) and Syngas Energy Corp., is an emerging leader in the development and marketing of low-cost alternate fuels worldwide. Through superior technology, the Company is focused on becoming a GreenPowerhouse™. Record energy prices, combined with the global focus moving rapidly towards addressing pollution, has heightened the need for sustainable, zero emission energy. Energy Quest's technology is based on clean, renewable energy, positioning it to benefit from global trends. Web-site http://www.nrgqst.com/
Forward-Looking Statements
From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.
SOURCE: Energy Quest, Inc.