IDAHO FALLS, Idaho, Aug. 23, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (OTCBB:IESV), a leading alternate energy provider, hails and applauds the recent showing of a Fox News Network Special that aired Sunday evening August 15th. The program hosted by Newt Gingrich, former speaker of the U.S. House of Representatives, had commentary from leading experts on the energy situation that the U.S. is now facing. Included among the experts was U.S. Senator from Idaho, Larry Craig, who is the second ranking member of the U.S. Senate Energy Committee.
ITR was delighted that the entire last segment of the program was devoted to "ALTERNATE ENERGY" sources, which all the experts agreed must receive immediate government action. Dr. Dennis Keiser, President of ITR, located in Idaho Falls, Idaho, stated in a previous news release on August 17th, "We believe that our company can play a vital role in providing a reliable, economical and ongoing source of alternate energy for the U.S. ITR's one-of-a-kind digester technology will help solve a number of major issues, but most importantly, facilitate the transition from a oil dependent nation to one of independence. Our company can assist the tens of thousands of nationwide dairy farmers with regulatory issues and concurrently provide a new profitable revenue stream for them."
Dr. Keiser further stated, "From the dairy farms in California alone, using our technology, we could provide billions of gallons of alternate fuel on an economical basis and provide the foundation for a winning combination for the dairy farmers and food processors, the average American gas consumer and allow the U.S. to become less and less oil dependent. Each year, the United States produces enough biomass to provide 16 times our total energy needs if it were converted into various forms of energy. We are providing the economic concept with biogas production to begin tapping into this huge source of renewable energy."
Intrepid exhibited their first methane refinery on Monday, August 23, to a group of interested California and Idaho dairy leaders. The digester will commence commercial production in October.
Statements released by Intrepid Technologies and Resources that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.