EDITOR: | July 30th, 2014

Bayshore Petroleum Corp. Announces License Agreement for Desulphurization of Hydrocarbons Using Ultrasonic Process

| July 30, 2014 | No Comments
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July 30, 2014 (Source: Marketwired) — Bayshore Petroleum Corp. (“Bayshore” or the “Corporation“) (TSX VENTURE:BSH) is pleased to announce that it has entered into a Master License Agreement with International Ultrasonic Technologies Inc., (“IUT”) a private technology company based in Carstairs, Alberta, Canada (www.internationalultrasonics.com). IUT, which owns 9 U.S. patents and equivalent worldwide patents related to the use of ultrasonic waves in conjunction with catalyst to desulphurize hydrocarbons without adding hydrogen. The Master License Agreement allows Bayshore to utilize the patented ultrasonic technology in all potential hydrocarbon applications in Canada. Under the terms of the Master License Agreement, Bayshore will have an exclusive right to use and to sublicense the patented ultrasonic technology in Canada for 20 years. The Master License Agreement also grants Bayshore a 2-year option to acquire exclusive rights to this technology in other countries.

Ultrasonic desulphurization involves passing a hydrocarbon stream through an ultrasonic wave chamber with an added proprietary catalyst to separate sulphur from hydrocarbons in an economic manner. The traditional method of reducing the sulphur content of hydrocarbon streams using hydrogen is expensive and energy intensive. The patented ultrasonic wave process with catalyst is much more efficient and does not require high temperature, high pressure or hydrogen. The patented process has been field tested in different countries and successfully reduced sulphur content of different processed petroleum products including natural gas liquids (NGL), gasoline, kerosene and diesel to less than 20 parts per million, which meets the ultra low sulphur transportation fuel standards of many countries. Bayshore believes this technology has the potential to provide additional benefit to its planned heavy-to-light oil cold catalytic cracking technology worldwide, and will contribute to upgrading raw, heavy and sour crude oil directly into light, sweet product fuel.

Bayshore is a Calgary, Alberta based corporation engaged in the technology expansion applicable to heavy oil and other unconventional oil resources. The Common Shares are listed on the TSX Venture Exchange under the trading symbol “BSH”.

Cautionary Statements

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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