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Solanex Management Inc.: Solanex Management Inc.: Initial Results for Oil Sand Extraction Technology

^{Published on 2009-10-05 06:37:43 - Market Wire}
 

LAS VEGAS, NEVADA--(Marketwire - Oct. 5, 2009) - The Board of Solanex Management Inc. (OTCBB:SLNX) announces today that Solanex has received the initial bulk run test results to the Pyrolitic Hydrocarbon Gasification System. The full commercial test runs are being performed on oil sands, shale, tires and coal and are part of the procedure of having third party engineering confirm and quantify all figures associated with the processing of these feed stocks. The results defined by the third party engineering agency will be the basis of setup expenses and operating costs for all in-situ locations.

The feed stock used in the first run was tar sands from the Asphalt Ridge in Utah, carrying a 16% hydrocarbon count. The unit processed the material at the rate of six (6) tons per hour and ran on a continuous feed basis with three (3) eight (8) hour shifts, with one hour being used for basic maintenance. The unit produced ninety five (95) barrels of high grade, low sulphur crude and forty seven (47) barrels of methanol per day. The operating cost based on the existing equipment equated to $14.24 per barrel.

Not included in the operating costs are variables for mining and delivery of feedstock to the unit, since the mining, delivery and cost of feedstock will vary from site to site.

It is anticipated that each source of coal, shale and tires will also follow the results of the oil sands, meaning that each deposit will be correspondent to the percentage of hydrocarbons found in each specific feed stock.

Management is encouraged by these results and as such will begin the search for sources of feedstock in Canada, the US and in Mexico, immediately, in anticipation that the final engineering results will garner similar results for the shale, coal and tires.

To learn more about the Company, visit the website at:
[ www.solanexmanagement.com ]

About Solanex Management Inc.

Solanex Management Inc.'s business is the development, manufacture, distribution, marketing and sales of alternative, renewable and waste energy technologies. The waste to energy technology is a modular unit which has the ability to convert Municipal Solid Waste to electricity in small regional municipalities. The oil recovery technology s also modular and has the ability to convert oil sands, shale, and tires to recoverable oil and methanol.

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Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.