Toronto: 20 April 2012 — Phoenix Canada Oil Company Limited (TSXV: PCO & OTC BB: PHXCF) has arranged with SABIC Technology, the North American research unit of Saudi Basic Industries Corp. of Riyadh, Saudi Arabia, to evaluate the Phoenix proprietary, advanced, scalable hydrogen reactor/generator system for the photo-chemical production of low cost hydrogen gas. The technology demonstration will be conducted on April 26 by the senior hydrogen science research team at the University of Ontario Institute of Technology, Oshawa.
The world hydrogen gas market, now at $300-billion annually, is growing at more than 10% per year. Major ancillary hydrogen gas generation will also be required for the future proprietary Phoenix “Synfuel” market. It is planned that the full range of conventional liquid hydrocarbon transportation fuels, derived from the compounding of hydrogen with captured carbon emissions from any source, will be produced.
Don Moore, Phoenix CEO, comments that the “recently publicized development of large scale shale gas and oil reserves may be over-rated. By definition, shale is a tight rock — with minimal porosity and permeability, which obviously limits produceable hydrocarbon reserves. Early and precipitous production decline curves are a virtual certainty. With world oil demand now over 88-million barrels per day, each increasingly rare billion-barrel oil discovery covers less than 12 days of current world oil consumption. We can logically conclude that the Phoenix hydrogen alternative will target the eventual replacement of conventional liquid transportation 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 novel compounding of hydrogen with captured carbon emissions. The hydrogen and carbon components of Phoenix “Synfuel” can 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 heavy-end diesel oil products, can all employ the existing, long-established liquid fuel distribution infrastructure. This technology can also play a central role in advancing economic Carbon Capture and Storage/Sequestration (CCS) systems that can be further upgraded by the Phoenix environmentally benign Carbon Capture and Recycling (CCR) strategy. Phoenix also plans for a leading role in the inevitable future “Hydrogen Economy” through control of a proprietary technology covering the light-powered generation of low cost hydrogen gas from an ordinary water feedstock (including seawater).
For further information — Contact:
S. Donald Moore; President & CEO
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