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Planet Resource Recovery, Inc. Expands Enhanced Oil Recovery Efforts

Posted on: Monday, 14 April 2008, 09:01 CDT

Planet Resource Recovery, Inc. (PINK SHEETS:PRRY) announced today that the company is expanding its Enhanced Oil Recovery (EOR) efforts due to increasing demand for services after successful well treatments of marginal wells. Treatment of marginal wells with PetroLuxus™ MMMF is realizing increased production of 150 to 500 percent of additional oil production. The company is currently scheduled to treat fifteen wells over the next six weeks. Treatment of PetroLuxus™ and injection service costs range between $9,000 and $17,500 per well.

The US Department of Energy's Office of Fossil Energy estimates that "more than 60% of all known oil reserves in the United States remain untapped because of difficulties in extraction from the ground." These huge untapped oil supplies are difficult to extract due to the oil held in place by molecular forces of cohesion and adhesion. Technologies to increase extraction of oil held in place are known as the Enhanced Oil Recovery (EOR) industry. The EOR industry aims to increase extraction in marginal wells where oil production has slowed to 15 barrels a day or less. According to The Office of Fossil Energy, "There are nearly 500,000 of these wells in the US, and together they produce about the same amount of oil as America imports from Saudi Arabia."

About Planet Resource Recovery, Inc.

Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the PetroLuxus(TM) family of products, a proprietary environmentally friendly chemical compound that dislodges oil in practically all natural and man-made environments. The PetroLuxus™ family of products are effective and efficient solutions for the remediation and recovery of petroleum-based products. PetroLuxus™ applications include Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm cleaning, marine ship cleaning, remediation of oil sludge pits, treatment of raw fuel feedstocks, waste oil segregation and biodiesel, to name a few. Through the acquisition and formation of wholly owned subsidiaries, Planet Resource Recovery, Inc. deploys the PetroLuxus™ products. Oil Recovery Ventures, Inc. deploys PetroLuxus™ through joint ventures in the Enhanced Oil Recovery market.

For an audio/visual demonstration of PetroLuxus™, click on the link http://www.planetresource.net/index-21.html

For more information visit: http://www.planetresource.net or http://www.petroluxus.com

Safe Harbor Statement

Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.

Source: Business Wire

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