IPRC and Tradewinds sign agreement to tap Indonesia, Singapore markets
Monday, April 29 2002 - 02:28 PM WIB
Houston based Imperial Petroleum Recovery Corporation (IPRC) and Tradewinds Oil and Gas International, Ltd. (Tradewinds) had signed an exclusive license and marketing agreement that would l permit Tradewinds to market IPRC's Microwave Separation Technology (MST) within Indonesia and Singapore.
MST is an oil recovery system that significantly reduces emulsion problems in several areas in the petroleum industry.
According to IPRC?s release, Tradewinds will pay IPRC a licensing fee for this two-year exclusive license, which runs from May 1, 2002 through April 30, 2004. The agreement provides for automatic renewal for two years if Tradewinds purchases a minimum of $1,500,000 of MST equipment from IPRC.
Imperial Petroleum Recovery Corporation (IPRC) is a publicly held company currently traded on the OTC Bulletin Board.
Tradewinds Oil and Gas presently operates through several wholly owned subsidiary companies in South Sumatra, West Java and Central Kalimantan. (alex)