Petromin Signed Letter of Agreement with Greenhouse Gas Separation System Inc.
Wednesday, 14 March 2007
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2007) - Petromin Resources Ltd. (the "Company") (TSX VENTURE:PTR) is pleased to announce it has entered a Letter of Agreement with Greenhouse Gas Separation System Inc. (GGSSI), a Canadian Environmental Technology and Training company in Red Deer, Alberta effective immediately. The Letter of Agreement includes mutual cooperation among the two companies working together in the greenhouse gas capturing, measurement and sequestration projects in China, Kuwait, Algeria, Indonesia and Mexico. GGSSI is also involved in the business of "GHG emissions reduction credits certification" and provide training and educational seminars to prospective clients internationally. Recently, GGSSI has been awarded a contract with Algeria national oil company Sonatrach to conduct a feasibility study and project scoping of reducing green house gas emission in Algeria and subsequently, will provide operational and engineering design of equipment to capture and dispose of CO2 into oil reservoir for enhanced oil recovery (EOR) potential. Petromin will work closely with GGSSI on this project and through joint venture with the host countries, implement pilot testing of CH4, CO2 capturing and separation to demonstrate the process is technical and economically feasible. In addition, GGSSI will provide consultancy to Petromin in developing potential landfill gas conservation projects in those countries, which will eliminate millions of tons of methane/Carbon dioxide emissions into the air and qualifies for Clean Development Mechanism (CDM) for carbon credit approval.
The agreement expands Petromin's enviro energy scope and territory to an even broader area and provides Petromin a stronger base to invest into this new frontier market worldwide. For further information related to GGSSI, please visit http://www.ggssi.ca/.
Petromin Resources Ltd. is a micro-cap Canadian energy company listed on the Toronto Venture Stock Exchange. The Company's focus is oil and gas production. Core operations include five oil and gas properties in Alberta Canada with high impact CBM development opportunities in China coming on stream. By applying the latest C02 Sequestration Technology (Carbon Capture and Storage Tech,), Petromin is pioneering in enhance oil recovery and extract methane from coal while significantly lowering CO2 green house gas emissions.
On Behalf of Petromin Resources Ltd.
Kenny W. Chan, Co-Chairman and Chief Executive Officer