Petromin/Shanxi Energy Inc. Coal Energy Agreement
Monday, 26 March 2007
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 26, 2007) - Petromin Resources Ltd. (the "Company" or "Petromin") (TSX VENTURE:PTR) is pleased to announce it has entered into a ground-breaking agreement with Shanxi Energy Inc. of Taiyuan, Peoples Republic of China. Shanxi Energy Inc., is a designated state owned coal energy development Company (Involving Coal, Coal Chemicals, New and Renewable Energy, and Clean Coal Technology) and is fully established and organized by the Shanxi Province Development and Reform Commission.
The Petromin / Shanxi Energy Inc. Coal Energy agreement addresses cooperation in the development of the following projects in Shanxi Province:
1. CO2 Sequestration in deep un-mineable coal seams;
2. Coal heap utilization in power generation;
3. Surface Coal Mine Methane projects;
4. Other environmental energy related projects
In the agreement, Petromin will instigate and provide the technical support and requirements of the above projects while Shanxi Energy Inc., through its own networks and control, will identify and locate project sites and entities (of other state coal companies, coal mine owners, coal bureaus etc.) for Petromin.
Shanxi Energy Inc. will also initiate and assist Petromin in the government approval and funding process. The partnership agreement has obtained endorsement and full support from the following departments:
1. Shanxi Province's Development and Reform Department
2. Shanxi Province's Environment Department
3. Ministry of Commerce
4. All other related agencies which administer enviro-energy projects in Shanxi Province
This agreement enables Petromin to start its first enviro-energy project site selection and assessment in Shanxi Province - at which time more news will be forthcoming. Shanxi Province is one of the strategic areas in China to implement CO2 Sequestration and coal related enviro-energy projects. The agreement also fits within the overall strategy for Petromin to promote CO2 Sequestration in China's Ordos Basin, and will lead to the development of future sites for large scale CO2 Sequestration projects and other clean coal development projects in the region. Working closely with Alberta Research Council on CO2 Geological Sequestration in deep coal mines, Petromin will implement this technology in China to help alleviate the country's immense CO2 emission problem.
On Behalf of Petromin Resources Ltd.
Kenny W. Chan, Co-Chairman and Chief Executive Officer