WNWG Wentworth Energy Inc (CE)

Wentworth Energy, Inc. (OTCBB:WNWG) announced today that it has signed a joint venture agreement with Petromax Technologies to develop oil sands projects worldwide using the patented Petromax hydrocarbon separation technology. The joint venture, known as Wentworth Oils Sands, Inc., will have exclusive rights to the Petromax processing technology for oil sands and several other specific economic applications. Wentworth Oils Sands Inc. will use Petromax's process to develop oil sands starting with Wentworth Energy's established leases in eastern Utah. Wentworth owns approximately 1900 acres of oil sand leases in the potentially prolific Asphalt Ridge region. Historical geologic assessment conducted by and reports authored by the United States Geologic Survey and the United States Department of Mines indicate that total recoverable oil reserves are estimated between 30,000 to 40,000 barrels per acre. John Punzo, Chairman and CEO of Wentworth Energy, stated: "We are extremely pleased to have secured the exclusive rights to use the Petromax technology for oil sand resource extraction. Under the leadership of Barry Rosengrant Petromax has assembled one of the most experienced teams in the industry to bring this technology on stream. Our plan is to build the first production plant using the Petromax process over the next several months before making it available to other oil sands projects worldwide." Petromax Technologies Founder Barry Rosengrant added, "Not only is the Petromax process ideally suited for oil sands resource extraction it does so in an environmentally benign manner. In Utah the state government has said it will only approve projects meeting strict environmental criteria. The patented Petromax process is a combination of water-based chemicals that change the charge of inorganic and oil-based organic surfaces from neutral or positive into strongly negative. This clears the way for the easy and clean separation of the hydrocarbons from the oil sands." Gord McDougall, President of Wentworth Energy stated, "Petromax's process also ensures that the development cost-per-barrel will be significantly below those of other exploitation processes, while producing a high grade of oil from the oil sands environment. Traditional oil sands projects can cost billions of dollars, however, we believe that with Petromax we can build a plant that will produce oil at a fraction of the infrastructure cost for conventional oil sands development projects. "The joint venture will immediately set up a pilot plant to produce the first generation of the integrated components necessary to profitably process oil sands. The Petromax technology has numerous applications in addition to oil sands processing. The joint venture also has the exclusive rights to market Petromax for use in emulsified oil sands tailings remediation, and various rights to market the technology in Canada including use in the stimulation of oil and gas wells, tank sludge projects and the pipeline transport business," added McDougall. About Petromax Technologies Petromax is the developer of a proprietary process combining non-hazardous chemical formulations with shearing technology that separates oil and other commodities of value from inorganic material to which it adheres. This process has application to markets for oil sludge removal, down-hole oil field stimulation, hazardous waste remediation (e.g., Mature Fine Tailings; MFT), and oil sands development. About Wentworth Energy, Inc. Located in Forth Worth, Texas, Wentworth Energy, Inc. is a diversified energy company focused on the responsible development of America's natural resources while providing maximum shareholder value. Wentworth Energy will apply innovative technologies towards the discovery and development of a diverse portfolio of high value, low risk energy projects such as the Company's opportunities in the oil sands of eastern Utah, the prolific oil and gas fields of the Gulf Coast, and the East Texas gas play. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Wentworth Energy, Inc. (OTC Bulletin Board:WNWG)