Global Resource Reports Progress on Oil Shale Conversion Process

Global Resource Corp. has, for the past four months, been running tests with microwaves on oil shale. After exposing the rock to the patent-pending microwave process, Global Resource collects the byproduct gases and heat exchanges them into oil and gases that do not convert back to liquids.

The liquids range from C-14 to C-28 and up to 70% of the initial weight of the oil shale (depending on where the sample was mined) is gasified. The energy balance for this gasification is running at approximately $30 per barrel, which produces Fractionalized Petroleum Products, as opposed to the bitumen that is normal to shale and tar sands, after they are liberated from their raw material. From the oil shale itself, GBRC's Gas Chromatograph shows GBRC is producing finished products of diesel fuel and heating oil. This potentially eliminates a refining process, noted the company.

Frank Pringle, CEO of Global Resource Corp., said, "Our tests are ongoing and evolving, but we have made fantastic discoveries and we will continue to develop them. The next phase of tests will concentrate on the energy and material balances but we anticipate that the results will improve through the next round."

Global Resource Corp. has a patent pending process that allows for removal of oil and alternative petroleum products at very low cost from various resources, including shale deposits, tar sands and waste oil streams with significantly greater yields and lower costs than are available utilizing existing known technologies. The process uses specific frequencies of microwave radiation to extract oils and alternative petroleum products from secondary raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources. GBRC's technology will not only be developed to extract oil from shale, but from depleted oil fields in the US and elsewhere, many of which still contain more than half of the hydrocarbons originally in these fields, because the residual hydrocarbons are too viscous to extract with conventional technology.