Post by Twist Capper on Sept 26, 2005 10:40:41 GMT -6
Oretech Inc. Enters into Agreement to Merge with Juina Mining Corp. as Subsidiary; New Stock Trading Symbol 'ORTE'
Business Editors/Environment Writers
LAS VEGAS--(BUSINESS WIRE)--April 23, 2003
Oretech Inc. (OTCBB:TVYG and, effective April 24, OTCBB:ORTE) announced today they have signed an LOI (Letter of Intent) with Juina Mining Corp. (OTCPK:GEMM) to begin an acquisition process by Oretech Inc. As part of the proposed transaction, the acquisition will be effected through a fully reporting 12G Nevada corporation of Oretech's, which will allow Juina Mining to become a wholly owned subsidiary.
Steve Cummins, CEO of Oretech Inc., commented, "The objective of this acquisition is to ultimately position the public company so that it can meet the listing requirements of a higher exchange. We feel the primary benefit of this relationship, when closed and becomes effective, would be the ability to capitalize on the diligent effort that Juina has initiated in Brazil and maximizing the development opportunities there. If this transaction is consummated, we will have a strong team of mining and business professionals on board, a proven reserve base, and we will focus our efforts and all of our available resources on creating a solid revenue base, a consistently profitable bottom line and maintaining shareholder value."
James McFadden, CEO of Juina Mining Corp., commented, "We are pleased to have this opportunity, as we move into the next phase of our growth, and to soon be able to avail ourselves of Oretech's distinguished board and management team. Their team of mining and business professionals are what we've been actively looking for since day one, and we are extremely excited that Oretech will be providing us their expertise and strong market ties within the mining industry."
The formal closing for the acquisition is set for April 25, 2003. Further details will be forthcoming when available.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
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Oretech receives positive test results extracting oil from Tar Sands
by: OilOnline
Friday, August 05, 2005
Oretech, Inc has recently completed test processing on tar sands from the Athabasca region of Alberta, Canada. Preliminary results indicate the extraction of oil is apparently a higher percentage than that which is extracted by conventional methods, while remaining extremely environmentally friendly. The API gravity of the bitumen (oil) is significantly upgraded during the extraction process.
Alberta's tar sands comprise one of the world's two largest sources of bitumen; the other is in Venezuela. These oil reserves are second only to Saudi Arabia, and are found only in three places in Alberta -- the Athabasca, Peace River and Cold Lake regions -- covering a total of nearly 140,800 square kilometers. These tar sands currently represent 54 per cent of Alberta's total oil production, and about one-third of all the oil produced in Canada. Output of marketable tar sands production increased to 858,000 barrels per day (bbl/d) in 2003, up from 741,000 bbl/d the year before. It is anticipated that in 2005, Alberta's tar sands production may account for one-half of Canada's total crude output and 10 per cent of North American production.
Business Editors/Environment Writers
LAS VEGAS--(BUSINESS WIRE)--April 23, 2003
Oretech Inc. (OTCBB:TVYG and, effective April 24, OTCBB:ORTE) announced today they have signed an LOI (Letter of Intent) with Juina Mining Corp. (OTCPK:GEMM) to begin an acquisition process by Oretech Inc. As part of the proposed transaction, the acquisition will be effected through a fully reporting 12G Nevada corporation of Oretech's, which will allow Juina Mining to become a wholly owned subsidiary.
Steve Cummins, CEO of Oretech Inc., commented, "The objective of this acquisition is to ultimately position the public company so that it can meet the listing requirements of a higher exchange. We feel the primary benefit of this relationship, when closed and becomes effective, would be the ability to capitalize on the diligent effort that Juina has initiated in Brazil and maximizing the development opportunities there. If this transaction is consummated, we will have a strong team of mining and business professionals on board, a proven reserve base, and we will focus our efforts and all of our available resources on creating a solid revenue base, a consistently profitable bottom line and maintaining shareholder value."
James McFadden, CEO of Juina Mining Corp., commented, "We are pleased to have this opportunity, as we move into the next phase of our growth, and to soon be able to avail ourselves of Oretech's distinguished board and management team. Their team of mining and business professionals are what we've been actively looking for since day one, and we are extremely excited that Oretech will be providing us their expertise and strong market ties within the mining industry."
The formal closing for the acquisition is set for April 25, 2003. Further details will be forthcoming when available.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
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Oretech receives positive test results extracting oil from Tar Sands
by: OilOnline
Friday, August 05, 2005
Oretech, Inc has recently completed test processing on tar sands from the Athabasca region of Alberta, Canada. Preliminary results indicate the extraction of oil is apparently a higher percentage than that which is extracted by conventional methods, while remaining extremely environmentally friendly. The API gravity of the bitumen (oil) is significantly upgraded during the extraction process.
Alberta's tar sands comprise one of the world's two largest sources of bitumen; the other is in Venezuela. These oil reserves are second only to Saudi Arabia, and are found only in three places in Alberta -- the Athabasca, Peace River and Cold Lake regions -- covering a total of nearly 140,800 square kilometers. These tar sands currently represent 54 per cent of Alberta's total oil production, and about one-third of all the oil produced in Canada. Output of marketable tar sands production increased to 858,000 barrels per day (bbl/d) in 2003, up from 741,000 bbl/d the year before. It is anticipated that in 2005, Alberta's tar sands production may account for one-half of Canada's total crude output and 10 per cent of North American production.
? I need to see independant proof of good business opperations before I get psyched about Oretech. Hargarten replaced Cummins. Maybe thats good.