Hey it isn't Ray's fault that he couldn't pull off fulfilling a signed contract just as oil was starting to run into it's record high prices. Follow-up from the then-IR firm hired to pump then then-company that has become IZ:
VANCOUVER, British Columbia--(
BUSINESS WIRE)--Aug. 10, 2005--ZEO-Tech (TSX VENTURE:ZEO) extends its appreciation to T & A Drilling & Blasting Corp. of Kelowna, BC, and Cantex Okanagan Construction Ltd., for their outstanding performance in the June 30, 2005 completion of the drilling, blasting, and crushing of 10,000 tonnes of zeolite from the company's mine, located 10.3 kilometers southwest of Princeton, BC.
ZEO-Tech's zeolite is specified in a new lighter weight cementing system for Halliburton Energy Services Inc. ZEO-Tech commenced servicing the initial Halliburton requirements in November, 2002. On April 6, 2004 the Company announced the signing of a $5,000,000 contract to supply micronized zeolite to Halliburton Group Canada through a joint venture company United Zeolite Products (UZP). Halliburton Group Canada agreed to purchase specialty zeolite to service its cementing activities in Western Canada. This inventory of 10,000 tonnes has been prepared to service its bulk zeolite order for Halliburton Group Canada.
The zeolite business is in its infancy in North America. Zeolites are chemically complex materials, and all zeolite deposits are different physically and chemically. The largest potential market for zeolites in North America is in the construction cementing industries. When a specific particular and appropriate zeolite is specified into a product or formulation, the competitive edge beyond the intellectual property rights secures the market.
The utilization of the zeolite technologies into cementacious systems requires adherence to specified codes of use. To appropriately classify the zeolites into the codes, a two-year program was initiated with the Metals and Materials Engineering Department Ceramic Group of the University of British Columbia, Vancouver BC. The program was initiated in 1999 and completed in 2001. This program included classifying zeolite performance according to 14 ASTM/Can/Csa trials as well as physical freeze thaw inter-grinding, examination of accelerators, retarders, water retention aids etc. This program was conducted on three BC zeolite occurrences. The best performing zeolite for application in cementacious systems was the Zeo-Tech zeolite from Princeton.
In July of 2001, ZEO-Tech's industry partner, C2C, entered into a Joint Development Agreement with Halliburton Energy Services Inc. for the purpose of developing a new lightweight cementing system for oil and gas-well completions. Extensive applications work was conducted in Canada and the United States culminating in the first well being completed in western Canada in December, 2002. The zeolite specified in this application is Zeo-Tech's Princeton zeolite.
As a result of the product development work, a number of the other product applications are underway, i.e., a silica fume alternative. Field applications have and are being made with ZeoFume replacing silica fume in the shot crete markets. These other cementacious applications are being developed carefully and are dependent on the ability to supply from Princeton.
ZEO-Tech is an operating mining & exploration company whose primary focus is the extraction of zeolite from its Princeton deposit, known as Bromley-Creek/Zeo-Tech group of claims, for industrial applications.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Zeo-Tech Enviro Corp. (TSX VENTURE:ZEO)