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Message: BQI rents and tests Petrostar's Down Hole Tool

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BQI rents and tests Petrostar's Down Hole Tool

posted on Jan 16, 09 05:54AM

I cut and pasted the following out of a NR for Petrostar Petroleum Corp. Hit the link if you want to read the whole article. http://www.msnbc.msn.com/id/28661686/

wbr

The Down Hole Tool (DHT) is a system and method for generating underground heat, steam and pressure. Specifically, the present invention relates to an electrical steam generation system that enables efficient production of down-hole heating and steam production without the typical heat and pressure loss of traditional surface steam generation equipment.

In September 2008 the Company entered into a rental agreement with Oilsands Quest Inc. whereby Oilsands would test Petrostar's DHT (Down Hole Tool-DHT2) at their Northern Axe Lake, SK facility. During the initial DHT testing period, Oilsands will pay a monthly rental charge of $10,000.00 plus GST. That agreement has been extended to March 2009 from the original 3 month agreement. During initial testing, Petrostar completed and provided Oilsands with a new DHT configuration (DHT2C) that will address the specific needs of the oil sands company. The facility will require a DHT operating at 200 meters and with greater length heating rods and housing.

Should the parties agree the testing has been successful, Petrostar will provide a quotation for the manufacture of a custom DHT unit (DHT-4-Mark10-480V) that will address these specific needs.

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