WINSTON-SALEM, N.C., Jan. 28, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) issued a statement today discussing the positive profit effects of the Converter Process to produce high quality oil that brings a premium price. Up to Forty percent (46%) of the output of the Converter Process can be oil.
The synthetic oil produced will be purchased based on its heat value. The heat value is defined is MMBTUs (Million British Thermal Units) per barrel. The higher the MMBTUs, the higher the price a barrel fetches. At current prices (42.2 gallons per barrel), one barrel fetches $73 per barrel for light sweet Texas crude (NYMEX). One ton (2000 pounds) times .46 is 920 lbs. At approximately 7 lbs per gallon of oil, the ton of feed stock (of tires) will give us three barrels of oil or $219. This process takes just under an hour. The initial mobile converter will convert approximately 9 tons in an eight hour shift or $41,400 of oil per week if we run three shifts per day. Therefore the profit contribution of oil, if the converter is set to produce oil will be $166,000 per month.
Robert Matthews President of Plateau Mineral Development, Inc., states, “That is, there are very few extraneous nitrogen (N2) or Sulfur (S) Molecules attached in place of a hydrogen molecule. Those N2 and S molecules are the sources of nitrous oxides (smog) and nitric and sulfuric acids which, when mixed with water vapor in the atmosphere create acid rain. The oil and the gas produced by the converter process are synthetic. That is, the molecules are C4H4 (gas) or multiples of C6H6for oil. There are no sulfurs or nitrogen atoms attached to the carbon atoms to serve as sources of NO2s, NO3s or HS compounds and thus are pollutant free.”
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
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