HOUSTON, TX -- (Marketwire) -- 09/24/12 -- Chimera Energy Corp (OTCBB: CHMR) announced today that Company management has secured a $2.5 Million (U.S.) line of credit to be used in implementing Non-Hydraulic Shale Extraction on projects in conjunction with Pemex on wells in the Chicontepic Basin of Mexico and future locations, as needed.
PEMEX and Chimera Energy Corp executed a Memorandum of Understanding last month regarding the utilization of CHMR's revolutionary exothermic Non-Hydraulic Extraction method throughout Latin America. PEMEX, also known as Petroleos Mexicanos, is the largest company in both Mexico and all of Latin America. Some of the largest concentrations of Shale Oil in the world are located throughout Latin America. The first PEMEX wells identified for the new process are located in the Chicontepic Basin, which is considered Mexico's largest certified hydrocarbon reserve, totaling more than 139 billion barrels of oil.
Chimera Energy Corp's Non-Hydraulic Extraction system is an unprecedented technology designed to safely and economically replace hydraulic fracking (AKA fracturing and fracing) without negative environmental impacts. The new process uses no water and also does not use radiation, steam, LPG gel, natural gas or the pumping of anything hot into the well.
Well data received from PEMEX shows that the first wells targeted for deployment may be ideal for Non-Hydraulic Extraction versus hydraulic fracking -- even beyond the environmental positives. A majority of Chicontepic Basin wells show to have extremely large pocket reserves off of the main well bore, which may be easier to open up with the focused pressures designed into the Non-Hydraulic Extraction system as opposed to regular hydraulic fracking. The Company plans to use the resulting data from Mexico to further proliferate the new technology worldwide, including application for exclusion from France's current shale ban.
Non-Hydraulic Extraction has recently emerged to be asserted as a cheaper and more effective extraction method that does not affect groundwater at all. Chimera Energy Corp is in the process of reengineering this new method for mass production, relicensing and sales. For a description of how Non-Hydraulic Extraction works, please visit www.zerowaterfracking.com
About Chimera Energy Corp.
Chimera Energy Corp is a Texas corporation listed on the OTCBB under the trading symbol CHMR. Chimera Energy Corp (CHMR) acquires, develops, licenses and sells new energy technology and products that are designed to profit from the current domestic shale oil boom.
More information about Chimera Energy Corp may be found at www.ChimeraEnergyUSA.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Chimera Energy Corp
Most Popular Stories
- Slow Week Ahead of December FOMC Meeting
- Hispanics Seek to Grow School Board Members
- GM Bailout Saved 1.2 Million U.S. Jobs, Report Says
- Bitcoin Used to Buy Tesla Car
- U.S. Companies Eager for Iranian Business
- 'Knockout Game': Myth or Menace?
- Banks Fret as Volcker Vote Approaches
- Questions Remain in Jenni Rivera's Death
- Yellen Set to Become One of World's Most Powerful Women
- Paul Walker Fans Pay Respects