Toronto: 16 March 2012 — Phoenix Canada Oil Company Limited, (TSXV: PCO & OTC BB: PHXCF) has been awarded a Canadian Government Collaborative Grant for the Company’s research project entitled “Efficient Catalytic Systems for Reverse Water Gas Shift (RWGS) Reactions Based on Nano-Structured Nickel Catalysts.” The grant is funded by the Natural Sciences and Engineering Research Council of Canada (NSERC). The research will be directed by Dr. E. Baranova at the University of Ottawa. Dr. Baranova’s expert research has focused on the electrochemical promotion of catalytic reactions for the design of novel catalytic systems employed in the application of metals, alloys and composites for special catalysts and fuel cells.
The research program will focus on the development of a Low Carbon Hydrocarbon Fuel (LCHF), a proprietary synthetic hydrocarbon fuel (the Phoenix Synfuel technology) that is compounded from diverse sources of hydrogen and carbon. LCHF, or Synfuel, is chemically identical to conventional petroleum-based liquid fuels. The funded research will advance the further development of the Phoenix system to convert carbon dioxide to produce carbon monoxide and water, with flowsheets designed for commercial Synfuel production from carbon monoxide compounded with hydrogen.
Don Moore, Phoenix CEO, suggests that the “recently publicized discoveries of large scale shale gas and oil reserves may be over-rated. By definition, shale is tight rock — with minimal porosity and permeability, and yielding limited reserves. Early and precipitous production declines are a virtual certainty. With world oil demand now over 87-million barrels per day, each increasingly rare billion barrel oil discovery covers less than 12 days of current world oil consumption. We may logically conclude that the Phoenix Synfuel alternative can target the replacement of conventional liquid fuels, and sooner rather than later.”
With exclusive ownership of its proprietary Synfuel technology, Phoenix has filed for U.S. and international provisional patents covering the general compounding of hydrogen with captured carbon emissions. The hydrogen and carbon components of Phoenix Synfuel derive from diverse and widely available sources. The Synfuel equivalent of conventional liquid transportation fuels, ranging from light-end jet fuel and kerosene, to mid-range gasoline, and through heavy-end diesel oil products, all can employ the existing, long-established distribution infrastructure. This technology can also play a central role in advancing economic Carbon Capture and Storage/Sequestration (CCS) programs that can be upgraded by the environmentally benign Phoenix Carbon Capture and Recycling (CCR) system. Phoenix also plans to play a leading role in the future “Hydrogen Economy” through control of proprietary technology covering the light-powered generation of lower cost hydrogen gas from an ordinary water feedstock.
For further information — Contact:
S. Donald Moore; President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.