December 27, 2005 Palm Beach
Gardens , Florida
Nevtah
Capital Management, Inc. (OTC: NTAH) announces the completion
of its corporate website, www.nevtahoilsands.com, which includes
all details of its successful pilot plant project in Utah
with its joint venture partner, Black Sand Energy Corp. (Name
recently changed from Cassandra Energy Corp.).
The pilot plant project has now been in operation since
the first week of November, 2005 at the Asphalt Ridge lease
location. The joint venture partners are now stabilizing
the pilot plant's production process, which will operate
at 5 barrels per hour for 20 hours per day and a daily total
of 100 barrels per day.
The joint venture partners' highly mobile extraction units
are scalable and are easily transported. Tar sand extraction
costs including transportation are extremely attractive at
less than $12.50 USD per barrel. The joint venture partners
have been focusing on stabilizing the production process
with several system improvements including the winterization
of the extraction plant and its support equipment to maintain
processing levels at cold temperatures. A steam jacket has
also been installed which creates drier sand and keeps the
pumps, plumbing and the extraction chamber warmer during
standby time, minimizing warm-up time.
System performance will also be improved with the installation
of more powerful pumps and additional sensors for better
indications of mass flow, temperature and material levels.
The upgrade will provide better process control and will
provide more precise data required in order to measure the
system's performance. The joint venture partners intend to
construct a commercial 2,000 barrel per day plant during
2006 which would have an annual production of 800,000 bbl/yr
at 91% capacity. If a tar sand deposit is 100 feet thick
and has 1.0 barrel of oil per cubic yard, it would result
in only 5 acres being processed per year, creating a minimal
footprint, minimizing environmental impact and reducing remedial
mining costs.
The joint venture partnership intends to expand to an additional
lease location in the spring of 2006 and plans eventually
to implement extraction plants on all 14 of its leases in
the Utah Tar Sands. The partnership also intends on pursuing
other joint venture opportunities in US, Canada and other
countries in the world possessing oil sand resources.
More information on the joint venture partnership's
operations in the Utah Tar Sands is available by contacting
Daniel P. Kesonen, President & CEO of Nevtah Capital
Management, Inc. at (561) 626-9901.
For more information,
please contact:
Daniel P. Kesonen President & CEO
Nevtah Capital Management Corp.
(561)
626-9901
