NEW YORK, Jan. 24 /PRNewswire-FirstCall/ -- After close consultation with other members of the Board of Directors of SulphCo, Inc., (Amex: SUF - News) Robert H.C. van Maasdijk feels compelled to respond to the article in Barron's Magazine over the weekend as, in his opinion, the article is materially misleading regarding the company, its management and its technology. In response, Mr. van Maasdijk has decided to focus exclusively on his assessment of the Sonocracking(TM) technology, and in particular, test results furnished not only by SulphCo, but also those produced by one of the leading oil companies in the Middle East, a company which has tested the Sonocracking technology at the facilities during the entire month of December 2005. In the opinion of Mr. van Maasdijk, these results indicate that the Sonocracking technology developed by SulphCo will not only reduce sulphur and nitrogen content in processed crude, but more importantly, will substantially increase the yield of light distillates.
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SulphCo has previously stated that its technology will increase the API gravity by 6 to 11 points, depending on the quality of the crude processed (light, medium or heavy). These test results confirm that, in volume terms, Sonocracking can yield between 20% to 50% more light oil per barrel, depending on the grade of crude processed. In dollar terms, this can mean an uplift of between $5 and $10 per barrel.
Sonocracking technology has minimal operating costs and is adaptable to both upstream and downstream applications.
SulphCo will install, by the beginning of June 2006, its first 210,000 barrels of Sonocracking capacity (seven 30,000 barrels per units) in Fujairah. The equipment will be manufactured by NTG Technology in Germany, following which 300,000 barrels of additional capacity will be installed in the following months. It is the opinion of NTG that once the seven units of 30,000 barrels each have been installed, an accelerated rollout is anticipated.
Last but not least, SulphCo is in the final stages of negotiations with several oil producing nations and companies, as has been stated before. As a consequence, the Board of SulphCo is fully focused on the rollout of the Sonocracking equipment.
About SulphCo, Inc.
SulphCo has developed a patented safe and economic process employing ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The company's technology upgrades sour heavy crude oils into sweeter, lighter crudes, producing more gallons of usable oil per barrel.
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. |
