Carbon Sciences Opens Fort Worth Office and Adds Key Executives
September 17, 2013 - Santa Barbara, CA
Carbon Sciences Inc. (OTCBB: CABN), provider of a complete solution for transforming abundant and affordable natural gas into clean burning gasoline and other transportation fuels, today announced that it has opened an office in Fort Worth, Texas and that two key executives have joined the company's management team.
The company's Texas team includes Trey Smith, Executive Vice President, and Kendall Carew, Vice President of Business Development, who are based in the company's new Fort Worth office. The Texas team is expected to focus on the development of the company's first GTL plant.
Bill Beifuss, the company's CEO, commented, "We are pleased to welcome Trey Smith and Kendall Carew to Carbon Sciences. They not only have oil and gas industry experience, but are also very knowledgeable about the natural gas market, which will be very helpful in moving forward with our first GTL plant."
"Developing a GTL plant is very exciting project and I look forward to the challenge," said Trey Smith, the company's Executive Vice President. "While we are considering plant sites and sources of natural gas in other parts of the country, the Fort Worth area must be considered a very strong horse in the race. As a matter of fact, we sit right on top of the Barnett Shale, the granddaddy of all natural gas shale plays that pioneered the revolutionary drilling techniques that have unlocked vast quantities of America's natural gas resources."
According to Kendall Carew, the company's Vice President of Business Development, "The Texas team's first order of business is to secure a source of natural gas and a plant site. We are currently holding discussions with a number of interested parties and are very pleased with our progress to date."
Carbon Sciences previously announced its plan to build a miniGTL plant, designed in a modular nature, which will allow the matching of the equipment to the quantity of natural gas, as well as allow for portability if gas flow declines over time. The company estimates that a miniGTL plant producing approximately 1,000 barrels per day of transportation fuel can be contained in as few as 60 modules. A modular design enables rail car or truck transportation and installation to remote sites with limited infrastructure. Modular construction additionally will allow the company to manufacture in low cost production centers and then transport the modules to the gas field, resulting in a substantial cost savings over on-site construction.
Unlike large scale GTL plants, such as those developed by Royal Dutch Shell and Sasol that require large gas fields, a miniGTL plant in the 1,000 to 2,000 barrel per day range can be built to monetize small to medium size fields, which account for nearly 40% of gas fields in the world.
About Carbon Sciences, Inc.
Carbon Sciences offers a complete solution for transforming an abundant and affordable supply of natural gas into clean burning gasoline and other transportation fuels. While large producers, such as Shell and Sasol, have built and operate world scale gas-to-liquids (GTL) plants for large natural gas fields, our solution is engineered to cost effectively produce transportation fuels from the thousands of available small and medium size natural gas fields. Our first generation miniGTL solution integrates best of breed and proven technologies. Related technology solutions can also transform natural gas into other valuable, large volume products, such as hydrogen, methanol, ammonia, solvents and plastics. To learn more about Carbon Sciences, please visit www.CarbonSciences.com
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.