HKN, Inc. Announces Oilfield Emulsions Supply Contract for BriteWater International, LLC
14 Março 2011 - 8:11PM
Marketwired
HKN, Inc. (NYSE Amex: HKN) ("HKN") today announced that BriteWater
International, LLC ("BriteWater") has entered into an agreement
(the "Agreement") with a producer on the Alaskan North Slope
pursuant to which it has the right of first refusal to process and
dispose of certain of the producer's oilfield emulsion waste
materials. The Agreement has a term of seven years.
HKN holds a 52.09% interest in BriteWater, which owns the
patented oilfield emulsion breaking OHSOL technology. This
environmentally-clean process can be used to purify oilfield
emulsions by breaking and separating the emulsions into oil, water
and solids.
HKN, Inc. is an independent energy company engaged in the
development and production of crude oil, natural gas and coalbed
methane assets and in the active management of energy-based
investments. Additional information may be found at the HKN Web
site, www.hkninc.com. Please e-mail all investor inquiries to
Investorrelations@hkninc.com.
Certain statements in this announcement and
inferences derived therefrom may be regarded as "forward-looking
statements" within the meaning of the Securities Exchange Act of
1934, as amended. These forward-looking statements are based on the
opinions and estimates of management at the time the statements are
made. Management's current view and plans, however, are subject to
numerous known and unknown risks, uncertainties and other factors
that may cause the actual results, performance, timing or
achievements of HKN to be materially different from any results,
performance, timing or achievements expressed or implied by such
forward-looking statements. The various uncertainties, variables,
and other risks include those discussed in detail in the Company's
SEC filings, including the Annual Report on Form 10-K filed on
February 17, 2011. HKN undertakes no duty to update or revise any
forward-looking statements. Actual results may vary
materially.
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