WINSTON-SALEM, N.C., Jan. 28, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP) issued a statement today discussing the positive profit effects of the Converter Process to produce high quality oil that brings a premium price. Up to Forty percent (46%) of the output of the Converter Process can be oil.
The synthetic oil produced will be purchased based on its heat value. The heat value is defined is MMBTUs (Million British Thermal Units) per barrel. The higher the MMBTUs, the higher the price a barrel fetches. At current prices (42.2 gallons per barrel), one barrel fetches $73 per barrel for light sweet Texas crude (NYMEX). One ton (2000 pounds) times .46 is 920 lbs. At approximately 7 lbs per gallon of oil, the ton of feed stock (of tires) will give us three barrels of oil or $219. This process takes just under an hour. The initial mobile converter will convert approximately 9 tons in an eight hour shift or $41,400 of oil per week if we run three shifts per day. Therefore the profit contribution of oil, if the converter is set to produce oil will be $166,000 per month.
Robert Matthews President of Plateau Mineral Development, Inc., states, “That is, there are very few extraneous nitrogen (N2) or Sulfur (S) Molecules attached in place of a hydrogen molecule. Those N2 and S molecules are the sources of nitrous oxides (smog) and nitric and sulfuric acids which, when mixed with water vapor in the atmosphere create acid rain. The oil and the gas produced by the converter process are synthetic. That is, the molecules are C4H4 (gas) or multiples of C6H6for oil. There are no sulfurs or nitrogen atoms attached to the carbon atoms to serve as sources of NO2s, NO3s or HS compounds and thus are pollutant free.”
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
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