VANCOUVER
,
Dec. 7
/CNW/ - Petromin Resources Ltd. ("Petromin" or the "Company) (TSX.V: PTR) is pleased to announce that Canadian Prime Minister
Stephen Harper
- in conjunction with his official visit to the Peoples Republic of
China
- announced that the Government of
Canada
will provide funds for investment in innovative, clean technology projects including
$500,000
to Petromin for the Company's
China Deep
Un-mineable Coal CO(2) Sequestration and Enhanced Coalbed Methane Production Project ("CCS ECBM Pilot Project"). The CCS ECBM Pilot Project involves the further development of the technology for CO(2) injection and storage in deep coal beds in
China
, as well as the determination of the suitability and capacity of coal seams in
China
, as long-term storage sites for CO(2).
The grant was announced on
December 4, 2009
, the second day of the Prime Minister's visit to
China
. The Prime Minister emphasized the importance of
Canada
and
China
working together on energy and clean technology and working with other G-20 partners to help global economic recovery. Funding is provided under Canada's role in the Asia Pacific Partnership on Clean Development and Climate ("APP"). The APP is a partnership of seven countries, namely
Australia
,
Canada
,
China
,
India
,
Japan
,
South Korea
and the
United States
, which have agreed to work together with industry partners to advance innovative and clean technologies within their regions.
The CCS ECBM Pilot Project is one of 19 new clean technology projects for which
Canada
has provided funds to demonstrate Canada's commitment to help accelerate the development and deployment of clean technologies in emerging economies such as
China
.
The Project is an international collaboration that includes Petromin alongside Enviro-Energy International Holdings Limited (Enviro Energy) from
Hong Kong
, and
China
United Coalbed Methane Corp. Ltd. ("CUCBM") from
China
. The collaborative model reflects the international cooperative principles of the APP.
The ECBM Pilot Project is operated by CUCBM. Petromin and Enviro Energy contribute specialized services including Canadian expertise as well as training to Chinese personnel and funding. As announced by the Company on
November 25, 2009
the pilot operations, which are currently underway, include re-working the project injection well and operating the well for a period of time. The first CO(2) injection is planned for
January 2010
after which monitoring and analysis will follow.
The Company and Enviro Energy utilize the Alberta Research Council of
Canada
for specialized carbon capture and storage consulting and services.
On Behalf of the Board of Directors.
Ross Gorrell
President & CEO
About Petromin Resources Ltd.
Petromin Resources is a progressive international petroleum and natural gas exploration and production company listed Tier 1 on the TSX Venture Exchange. Petromin was ranked 24th of the Top 100 Fastest Growing Companies in B.C. by Business in
Vancouver
in 2009 based on a 704% revenue increase over the past 4 years.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00003156E
For further information: Mike Suk, VP Corporate Affairs, (604) 682-8831, Website: www.petromin.ca
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