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OriginOil (OOIL) Announces First Licensee to Sell EWS Based Systems

OriginOil announced that Delta, Colorado-based Industrial Systems Inc. (ISI) has sold four industrial systems, powered by OriginOil’s EWS, to Synergy Resources for produced water and oily waste treatment in Trinidad and Tobago (T&T)

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October 3, 2014 (FPRC) -- OriginOil announced that Delta, Colorado-based Industrial Systems Inc. (ISI) has sold four industrial systems, powered by OriginOil’s EWS, to Synergy Resources for produced water and oily waste treatment in Trinidad and Tobago (T&T). This milestone represents the first commercial sale by an OriginOil licensee of a system incorporating EWS.

The four units, built for on-site processing of waste oil, are each capable of treating 250 barrels per day of contaminated water. Synergy Resources, of oil-rich Trinidad & Tobago, expects the system to reduce water treatment costs, lessen adverse environmental impacts, decrease freshwater requirements for industrial processes such as steam reinjection for enhanced oil recovery, and help operators comply with environmental regulations.
“ISI will integrate our process with existing filtering and membrane systems that typically suffer from clogging without our pre-treatment,” stated Lee Portillo, OriginOil vice president of engineering. “This is a challenging assignment, but we believe we can help recover significant amounts of valuable oil, while delivering cleaned water for beneficial uses.”

The majority of oil and gas procured from the Caribbean comes from Trinidad and Tobago where there is a critical amount of participation by major multinational oil and gas companies. The nation additionally has broad natural and environmental measures in place which include the Water Pollution Rules, actualized in 2001 under the Environmental Management Act. This manages the nature of oil and gas offices and obliges treatment of produced water before release to the evironment.

Bottom Line: This deal in Trinidad with Synergy Resources may only be for 4 systems, but these are big machines and represent a nice win for the company, in my opinion. More importantly, OOIL is getting Big Oil to nibble at the licensing model, which is the culmination of YEARS of patience and Management’s hard work!

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Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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