Message #6 From:
Stock News Bot Date: September 11, 2006 06:15:00 AM
CPPT News CompuPrint, Inc. Receives Sixth Exclusive Prospecting License in Namibia; Company To Use STeP(TM) Technology To Identify Promising Diamond Areas
NEW YORK--(BUSINESS WIRE)--Sept. 11, 2006--CompuPrint, Inc. (OTCBB: CPPT), an energy technology company that combines satellite-based technology with traditional exploration services, which does business through its wholly owned operating subsidiary, Terra Insight Corporation, announced today that its Namibia subsidiary, Namterra Mineral Resources (Pty) Ltd., has been awarded by the Republic of Namibia its sixth exclusive license for the prospecting of precious stones. This license expires in July 2009 and covers approximately 247,000 acres of off-shore territory, bringing the total area to more than 1.2 million acres for all six licenses now granted to the Company's Namibia subsidiary.
"This is an exciting opportunity for us, as we expand our thrust to natural resources in Africa, in addition to our current oil and gas projects in the United States and Turkey, and it is consistent with our business model of obtaining ownership interests in order to capitalize on the use of our STeP(TM) technology in exploration projects," said Roman Rozenberg, Chief Executive Officer. "To develop the properties underlying these licenses, we plan to deploy STeP(TM) for the exploration of natural resources other than oil and gas activities. The technology has previously been used successfully in prospecting for diamonds. Using STeP(TM), we plan to reconstruct a modeling of the historic shoreline, the paleoriver flows, and thereby identify the eroded kimberlite pipes to predict the potential off-shore traps for alluvial diamonds. We expect to expand our diamond and other minerals prospecting projects this year."
About CompuPrint, Inc.
CompuPrint, Inc., through its wholly owned subsidiary, Terra Insight Corporation, provides mapping, surveying, and analytical services to exploration, drilling, and mining companies. The Company primarily uses the STeP(TM) technology, which facilitates the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources. It manages and interprets geologic and satellite data to develop the assessment of natural resources. Through the Company's wholly owned affiliate, Terra Resources, Inc., the general partner in three limited partnerships we control, the Company owns leases for oil and gas parcels totaling more than 16,000 acres of land in the Rail Road Valley and White River Valley areas of Nevada, and participation in leases in East Texas and in South Texas for purposes of utilizing its STeP(TM) technology in oil and gas exploration and development activities. The Company also has a 20% working interest in 1,000,000 acres in leases for oil exploration in Eastern Turkey, and a six percent working interest in a diamond exploration project on more than 1,000 square kilometers in Republic of Congo. For more information visit http://www.terrainsight.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company's expectations and beliefs about its plans to acquire additional exploration properties, plans to drill or drilling results to fail to materialize: competition for new acquisitions; availability of capital; unfavorable geologic conditions; prevailing prices for oil, natural gas and other natural resources; and general regional economic conditions.
