March 20, 2007
PRESS RELEASE:
March 28 th , 2007, Palm Beach
Gardens, FL (Market Wire) Nevtah Capital Management (NTAH-OTC)
and its joint venture partner, Black Sands Energy today announced
that they have dispatched an operating crew to initiate the
permitting process and to prepare the lease for production
on their recently acquired Whiterocks Deposit lease in the
Utah Oil Sands. (See Press Release dated December 21 st ,
2006.)
The Company's crew will implement a core drilling
program to determine the richest areas of sands closest to
the surface for its mining operations. Today's assignment
of the crew to Whiterocks is in preparation for the arrival
of the Company's mobile production unit, which is currently
being dismantled in Oklahoma for shipment to Utah . The privately-held
Whiterocks Deposit, an 840 acre resource, is situated 27
miles north of Roosevelt in Duchesne County and is 30 miles
northwest of Vernal, Utah. The lease is a significant resource
and a subject of several independent reports which estimate
that it contains over 100 million barrels of oil in place.
(1985 Petersen Report). One of the features of the deposit
is that it is extremely accessible, with graded roads from
Vernal and the town of Whiterocks .
The joint venture partners'
patented, closed-loop production process uses benign, non-toxic
solvents, which are recycled in a closed-loop system so that
both cost and environmental impact issues are dealt with,
has been developed and enhanced since the late 1990's. Direct
mining and extraction costs are estimated at $ 12.00 to
13.00 USD per barrel, which offers payouts similar to conventional
oil drilling.
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
o@nevtahoilsands.com
Mr. Daniel P. Kesonen
President & CEO
Nevtah Capital Management Inc.
(561) 626-9901
