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GRNO's Wholly-Owned Subsidiary, Custom Carbon Processing Inc., Reports 1st Quarter Slop Oil Production Rates From Montana Facility Surge Past 2010 Levels
Press Release Source: Green Oasis Environmental On Tuesday April 19, 2011, 8:00 am EDT EDMONTON, AB--(Marketwire - 04/19/11) - Green Oasis Environmental Inc. (Pinksheets:GRNO - News), a Florida corporation, is pleased to announce its wholly-owned subsidiary, Custom Carbon Processing Inc. (CCP), is having a great start to 2011. CCP has had the pleasure of being able to operate through the entire winter this year, and is starting to see the beginnings of what should be another record year.
Despite extreme winter weather conditions, GRNO reported a record-breaking winter season with over 3,000 barrels of sales oil produced at the Montana facility in the last three months of operation. Management anticipates an additional 1,000 barrels of sales oil for the month of April.
CCP is now scheduled to be in full production at the Montana facility, commencing May 1, 2011, at a production rate of 3,000 barrels of sales oil per month. Based on today's NYMEX crude oil prices, that will generate revenues of approximately $300,000.00 per month from this facility.
CCP's Montana facility located just 2 miles outside of Sidney, and right over the hill from the North Dakota border caters to both States and is in the perfect location. The current active drilling program is in full swing in Montana and North Dakota.
Currently, North Dakota has 173 rigs listed as active. It is rumored that there are also over 500 reserve pits to be reclaimed -- this is one of the main sources in which CCP receives its slop oil and processing materials. The active listing of rigs and high-level reserve pits are timely considering the recent surge in oil prices.
"We have seen increases in both new customers and the variety of material coming into the plant. With the new price schedule introduced late last year, revenues should increase nicely this year while maintaining the lowest price disposal option for the area. In light of the expected influx of material, we have brought in additional equipment to this location to ensure that we are able to keep up with the demand for disposal in the area," stated Peter Margiotta, President and CEO of Green Oasis.
Green Oasis -- "Green today for a stronger tomorrow"
About Green Oasis Environmental Inc.
Green Oasis Environmental, Inc. (GRNO) is dedicated to acquiring and providing access to world class technologies available today and has chosen to focus its efforts on seeking acquisitions of technology and/or operations concerning the remediation of slop oil, waste engine oil, and tank bottom oils. GRNO has every intention of becoming the single best option for reclaiming oil to pipeline specification from these waste products. Through the Company's state of the art technology, GRNO will be able to process these waste products at one of their facilities or at a customer's site by way of implementing its portable processing technology.
About Custom Carbon Processing Inc.
Custom Carbon Processing Inc. (CCP) is a Wyoming based Company formed in 2006 that has been operating in the Gillette, Wyoming area since its inception. Through the technology that CCP has developed, CCP is able to process slop oil unrefined, non saleable oil) into pipeline standard crude. Its first facility has proven its capabilities to process up to 1,500 barrels of slop oil with a conversion ratio of approximately 50% to finished crude. Through its ongoing contract, CCP sells the processed slop oil to Shell Trading (US) Company (www.shell.us). Shell Trading (US) Company is a corporation that acts as the single market interface for Royal Dutch Shell companies and affiliates in the United States with offices in Houston, TX (headquarters); Dallas, TX; Denver, CO; Midland, TX; and San Antonio, TX; and has an affiliated Shell Trading company in Calgary, Alberta. Shell Trading buys and sells more than five million barrels per day of hydrocarbons, is one of the largest physical traders of hydrocarbons in the United States and one of the world's largest energy trading companies.
In addition to its Wyoming facility, CCP has enjoyed recent expansion by opening a second facility in Montana, home of the Bakken (www.bakkenblog.com) and Three Forks plays, said to be two of the largest oil plays in North America.
For more information on Green Oasis Environmental, Inc. or Custom Carbon Processing Inc., please visit www.greenoasisenvironmental.com or contact Investor Relations at (877) 207-3370
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