NEW YORK, NY--(Marketwire - February 25, 2010) - Caribbean Villa Catering Corp./ JSC Globotek (
According to the letter of intent, the company will build and install two APG processing plants at Imperial Energy's oil fields in Tomsk, Russia. The announcement is made further to the successful feasibility study performed by the company, which is similar to work already performed for Tatneft Oil, where Globotek received payment of $500,000 USD for the work.
"We are pleased that Imperial Energy has chosen Globotek as their preferred solution for APG flaring," said Dmitry Lukin, CEO of Globotek. "We anticipate that these initial installations in the Tomsk oil producing region will be the first of many, and that this work with Imperial Energy will build a foundation for a long-term partnership," further added Mr. Lukin.
Imperial Energy Corp. PLC is a wholly owned subsidiary of ONGC Videsh Ltd., a subsidiary of the flagship National Oil Company of India, which operates extensive upstream drilling and exploration activities in Western Siberia in addition to its operations in 18 countries around the world. http://www.imperialenergy.com/en/
About JSC Globotek
Globotek is the developer and owner of a unique technology for the processing of Associated Petroleum Gas (APG) that is carried out at the drilling field by a Modular Mobile Structure. Globotek's process involves the use of block-modular mobile complexes that each contains mini gas processing units. Globotek presently supplies only the Russian market but its product can be utilized wherever APG is flared. The advantages of the Globotek product are many, but can be summarized as speed of construction and installation, small cost and a worldwide market. Russian legislation mandates that all oil fields in Russia must process APG to the international 95% standard by January 2012.
Forward-Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
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214-722-3029