(Dallas, TX. – October 13, 2011) StockGuru Shines its Spotlight on Freestone Resources, Inc. (OTCBB: FSNR). The Company announced yesterday that it has formed a joint venture with MEA Solutions, LLC to deliver a total solution for water resource management in the oilfield services sector. An integral component of the service includes owning and operating water recycling systems. The Company closed on October 12, 2011, $0.17, trading in a fifty-two week range of $0.10 – 0.35.
The joint venture, Freestone Water Solutions, LLC, will utilize specialized, proprietary technology designed to treat and recycle flowback water (frac water that immediately flows back to the surface), as well as produced water for subsequent reuse in the fracking process.
The Freestone Water Solutions’ system minimizes the amount of new water required in the fracking process, as well as the amount of water that must be trucked offsite and disposed of at disposal well locations. This creates a significant cost savings to the exploration and production companies, minimizes oilfield truck traffic on municipal roadways, and provides a comprehensive water conservation effort. Furthermore, this proven water recycling process has been shown to be extremely efficient, durable and cost effective in other various industries. The mobile units are designed to process 500-800 gallons per minute, and stationary operations can process up to 6500 gallons per minute.
“Freestone Resources has worked diligently with MEA Solutions to research various water treatment and recycling technologies that are the most optimal for use in the oil and gas industry,” said Clayton Carter, Freestone Resources’ President. “This newly formed joint venture will utilize a technology that has been selected and modified based on that research and our specific water management needs. Most importantly, this venture will combine MEA’s experience with industrial, private, public and governmental authorities that manage and treat water and wastewater with our knowledge of oil and gas technology, onsite services, exploration and production. This cross-industry knowledge will allow us to meet the specific and unique requirements of each water recycling and treatment site that implements our technology.”
“I’m excited about our technologies and business model, which will bridge the expansion of the oil and gas industry with an obligation to deliver the appropriate water necessary for cost effective and environmentally conscious utilization of our most important resource,” said Gerald “Oj” Armstrong, Managing Director at Freestone Water Solutions.
About MEA Solutions, LLC:
MEA Solutions is a Houston, Texas based company owned by Michael McGhan, Charles “Chet” Erwin and Gerald “Oj” Armstrong that consolidated their leadership and experience in the oil gas service industry with water resource, management and treatment services for industrial, municipal, and governmental authorities to address the growing issues facing the interdependent industries.
About Freestone Resources, Inc.:
Freestone Resources is a Dallas, Texas based oil and gas technology development company. The continuing goal of the Company is to develop new technologies that allow for the utilization of our vast resources in an environmentally responsible and cost effective way. http://www.freestoneresourcesinc.com/.
SAFE HARBOR STATEMENTS:
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding the commercial potential of the Oil Recovery Units and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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