Fairchild International's (NASD:OTCBB: FCHL) Technology Tapped to Extract Oil From Alberta Oil Sands Syngas' M2 Unit Expected to Produce Higher Extraction Rates
LAS VEGAS, NV AND EDMONTON, AB, Nov 17, 2005 (MARKET WIRE via COMTEX) -- Fairchild International Corp. (OTC BB: FCHL), www.fairchildinternational.com is pleased to announce that its wholly owned subsidiary Syngas Energy Corp. has agreed to participate with a local Oil Sands extraction technology developer to use its M2 gas generator to extract energy from byproducts presently discarded in existing oil sand extraction processes.
"Present extraction technologies leave a lot of energy in the discarded sands and byproducts. We can use those discards and squeeze even more energy out of them, while leaving a much cleaner discarded byproduct," stated Wilf Ouellette, President of Syngas Energy Corp. "This test will prove our technology in a relatively new field."
Should the developer be satisfied with the results of the M2, the Syngas process will be integrated it into their new extraction processes. Syngas is very confident of the M2 gas generator's performance as it is designed for this type of feed-stock.
"Technologies to mine the energy from Oil Sands are developing at an incredibly rapid rate as the rate of discovery of traditional oil sources declines. We are fortunate to be on the cusp of another emerging technology that allows us to profit from waste while improving the environment," commented Robert Klein, President of Fairchild International Corp.
The energy produced from the M2 in turn will be used in the developer's new extraction processes to increase its overall efficiency.
Alberta's oil sands contain the largest known reserve of oil in the world. An estimated 1.7 to 2.5 trillion barrels of oil are trapped in a complex mixture of sand, water and clay.
About the Alberta Oil Sands: oilsandsdiscovery.com
About Fairchild International Corp: www.fairchildinternational.com
Fairchild International Corp. (OTC BB: FCHL), through its subsidiary Syngas Energy Corp. is an emerging leader in the development and marketing of low cost alternate fuels worldwide. We believe our superior technologies, coupled with an aggressive marketing plan will catapult our company into a GREEN POWERHOUSE. With fuel prices at record high levels and the global focus moving rapidly towards addressing pollution, the need for sustainable, zero emission energy is vital. As global tendencies move towards clean renewable energy, we foresee our company poised to benefit from several revenue streams, our host nations poised to benefit from independence from foreign energy sources and our clients poised to benefit from reliable, clean low cost energy.
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Fairchild International Corporation
Investor Relations
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