CALGARY, AB--(Marketwire - Jan 18, 2013) - Petrosonic Energy, Inc. (
"We're excited to become part of the Petrosonic team, and to be representing a company with such great potential," stated John McFarland, Senior Partner at Ormont LLC. "Heavy oil production is increasing dramatically worldwide and upgrading is becoming more widespread in order to facilitate transport and increase the quality and value of heavy oil crude stocks. Petrosonic's proprietary Sonoprocess™ technology promises to make upgrading of heavy oil more affordable by reducing or eliminating the need for costly diluent additives used in conventional upgrading processes."
"The company is at a promising inflection point as it prepares to move into commercial production with this unique and exciting technology," added McFarland, "and the management team, led by CEO Art Agolli, has an abundance of experience and a track record of success in the petroleum and heavy oil industries, including Art's key role as a co-founder at Bankers Petroleum."
Petrosonic's CEO, Art Agolli, commented, "We selected Ormont because of the uniquely good fit with our company. We believe that Ormont can help us design and execute a strategy to cultivate a broad audience of institutional and retail investors globally. John and his team have great capital markets experience and possess a level of technical knowledge and industry background and research capabilities that allows them to understand the Petrosonic story and the key value drivers for the company. We're looking forward to working with Ormont in order to help us inform and support existing and new investors alike."
Heavy oil comprises 50% of known oil reserves (roughly 8 trillion barrels) but represents just one in ten barrels of current production. New global investment could double this output by 2025. The Energy and Information Administration (EIA) forecasts future heavy oil production to increase by 200 percent from 2006 to 2030. Of the world's total oil reserves, an estimated 53 percent are in the form of heavy oil or bitumen.
About Petrosonic Energy, Inc.
Petrosonic Energy was established to deliver innovative technologies to the energy sector. Our current primary focus is to provide technologies that upgrade heavy oil economically and in an environmentally friendly manner. Our patented Sonoprocess™ uses clean tech sonic energy to de-asphalt heavy oil at much smaller scale and lower capital costs than conventional upgraders and without the use of water or release of emissions in the atmosphere.
About Ormont, LLC
Ormont, LLC is a boutique investor relations and strategic communications advisory firm serving the needs of select micro- and small-capitalization companies. Our principals, associates and partners collectively have an extensive and uniquely broad range of capital markets expertise along with banking and investor relationships. Members of our team also possess considerable experience in corporate operations, corporate governance, regulatory reporting and compliance and intellectual property management. We develop strategies for companies to identify, qualify and interact with prospective investors on both the buy side and the sell side. Our goal is to work with our client companies to develop a following of investors best suited to the company based on factors including industry segment, market capitalization and stage of development and to facilitate timely, responsive and informative communications with our investor audience.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.