CPPT News CompuPrint Delivers Stage 2 STeP(R) Technology Report for Diamond Exploration in Congo
NEW YORK--(BUSINESS WIRE)--CompuPrint, Inc. (OTCBB:CPPT), an energy and natural resource
exploration technology company, announced today that its wholly-owned
subsidiary, Terra Insight Corporation (TIC), has delivered its Stage 2
STeP technology report to the Congo exploration affiliate of a
multi-billion dollar company. The STeP report identifies a number of
potential diamond-bearing sites within the area of interest. The client
has informed TIC that it is dispatching geological field teams to survey
the sites which STeP has indicated as showing potential. After such
survey by the local geologists, TIC and the client will select the most
promising sites for Stage 3 analysis, the most detailed stage of STeP
analysis. It is anticipated that the Stage 3 STeP report will be
delivered in the First Quarter of 2007. The Stage 3 STeP report will be
prepared to pinpoint drilling location(s) and depths of diamonds. The
September 2006 service contract provides for TIC to receive a 5% working
interest, a 1% free participation interest, and a success fee from
revenue generated, as well as a small up-front payment that has already
been received.
In preparing its analysis, the Company utilizes a proprietary technology
STeP which is based on interpretation of satellite data to effectively
identify kimberlite minerals containing diamonds. STeP is also used to
find other natural resources subsurface, including oil and gas, gold and
even water.
"Our client has stated its satisfaction with our Stage 2 Report, and is
taking specific actions based upon our recommendations. It is presently
the rainy season in the Congo, but our client has indicated that it will
be commencing preliminary explorations of the specific sites we have
recommended. STeP enabled us to reduce the area of interest by more than
90% and to further concentrate on very specific, relatively small areas.
This project also demonstrates to the exploration industry STeP’s
ability to more effectively and efficiently conduct exploration efforts,”
said Roman Rozenberg, CompuPrint's Chief Executive Officer. “STeP
has already demonstrated that it can help substantially in locating
kimberlite pipes for diamond exploration. In addition, this Congo
project complements our 1,250,000 acre offshore Namibia diamond prospect
for which we have obtained licenses from the Government of Namibia. We
are optimistic that our STeP technology will open more opportunities
with this client and other major exploration companies. We are currently
in negotiations to render services to several potential clients of
similar size."
About CompuPrint, Inc.
CompuPrint, Inc., through its wholly owned operating subsidiary, Terra
Insight Corporation, provides subsurface surveying, and analytical
services for exploration, drilling, and mining companies. The Company
primarily uses satellite-based STeP technology, which facilitates the
prediction and location of commercially viable deposits of hydrocarbons,
gold, diamonds, and other natural resources. The Company interprets and
quantifies geologic and satellite data to develop the assessment of
natural resources for any given geographic area - on or off shore. The
Company, through its subsidiaries and affiliates also holds a working
interest in a one million acre Kurdistan oil prospect, 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 oil and gas leases in
East and South Texas. 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.
