June 20, 2007
PRESS RELEASE: For Immediate Release.
June 20th, 2007, Palm Beach Gardens, FL (Via Comtex Business Wire). Nevtah Capital Management (Symbol: NTAH-OTC) and its joint venture partner, Black Sands Energy today announced the inclusion of their patented, closed-loop extraction process in a June, 2007 Report issued by the U.S. Department of Energy and the offices of Petroleum Reserves, Naval Petroleum and Oil Shale Reserves. The Report, titled “Secure Fuels From Domestic Resources, The Continuing Evolution of America’s Oil Shale & Tar Sands Industries, “will be posted on the DOE/FE/Petroleum Reserves website and will be the subject of a Senate briefing this week. This 68 page, U.S. DOE Report may be viewed in its entirety on the Company’s website home page: www.nevtahoilsands.com .
The Report focuses on “Energy Security Which Is Essential to Preserve America’s Economic Strength and National Security,” and stresses the importance of reducing the country’s dependence on foreign imports of oil and refined products in order to achieve the energy security objectives. These objectives may be met by reducing demand for oil through conservation and efficiency and at the same time, developing America’s “two promising domestic unconventional resources…..oil shale and tar sands.” The Report goes on to document recent developments in the domestic oil extraction technologies and features Nevtah/Black Sand’s Closed-Loop Mobile Extraction Unit on Page Seven of the Report. It estimates a total resource of between 19 and 32 billion barrels of tar sands in Utah alone, which is one third of the country’s oil sands resources. The joint venture partners have focused on Utah as the center of their commercial production.
“The Evolution of Oil Shale and Tar Sands Technology” is also tracked in the U.S. DOE Report which depicts the path of energy technology evolution and commercialization: “To be considered successful, a technology must be demonstrated to be effective in producing desired products, be energy efficient, economically competitive, scalable and acceptable to the community. The development path of a major energy technology from concept to demonstration and commercial scale operation can take as much as 15 to 25 years. This evolution process can be viewed as occurring in three major phases- a Laboratory Phase, a Field Testing Phase and a Commercialization Phase.” Nevtah and Black Sands Energy, after just 5 years, are now entering what the U.S. DOE has deemed the “Commercial Phase with Demo Plants and Commercial Plants.”
The U.S. DOE Report goes on to categorize and profile 25 of the country’s oil shale and oil sands technology leaders, including Nevtah/Black Sands Energy. (See Pages 46, 47.) It provides a comprehensive explanation of how the Closed-Loop Extraction System works using benign, non-toxic solvents, which are recycled within the unit, without the extensive use of water. The joint venture partners are two of the few companies in the U.S.DOE Report focusing on oil sands, which provide a much better yield of oil from oil sands materials (1 ton = 1 barrel) than most oil shale deposits.
Nevtah Capital Management adheres to the provisions, regulations and specifications of the Safe Harbor Act.
For more information, please contact :
Paul Davey
Investor Services
(778) 389-0915
nevvtahoilsands.com
Mr. Daniel P. Kesonen
President & CEO
Nevtah Capital Management Inc.
(561) 626-9901
