Message #7 From:
Stock News Bot Date: September 28, 2005 07:40:00 AM
SNRG News SNRG Signs 20 Year HCL Sales Contract with Reagent Chemical & Research, Inc.
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Sept. 28, 2005--SNRG Corporation (OTCBB:SNRG) announces the signing of a 20 year contract, with a potential value of $57 million, to sell 100% of the future production of hydrochloric acid (HCL) from the Bay City gasification facility to Reagent Chemical & Research, Inc. of Ringoes, NJ.
Reagent Chemical and Research, Inc. is a privately held Delaware Corporation, headquartered at Ringoes, New Jersey with production, terminals, bulk plants, warehouses, and sales offices strategically located throughout the United States. The company was established in 1959 by the Skeuse family and is still owned and operated by the family today.
Reagent is recognized as the largest supplier of hydrochloric acid in the United States. Hydrochloric acid, a by-product from major chemical companies is acquired by Reagent under long term contracts for conversion by their special processing techniques into several grades up to and including Food Grade quality.
"We are pleased to have completed this initial sale contract from our new facility with the leading company in the HCL industry," stated Mr. Fimrite, "We have enjoyed working with Reagents associates in negotiating the contract and look forward to a long term relationship with the Company."
Reagent's customers are supplied by their privately owned fleet of rubber lined tank cars and tank trucks. This specially equipped fleet is the largest privately owned rubber lined fleet of its kind in the United States.
"We estimate that stabilized annual production will yield annual revenues under this contract of approximately $2.5 million," continued Mr. Fimrite, "We look forward to getting into production as soon as possible to commence this revenue flow."
For additional information, please visit our Web site at: www.SNRG.net. Please note the new corporate address and contact numbers below.
Corporate Offices:
14300 N Northsight Blvd, Ste 227
Scottsdale, AZ, 85260
Tel: 480-991-2040
Fax: 480-991-2203
Forward-Looking Statements: This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, any revenues from our contract with Reagent Chemical and Research, Inc. the potential value of such contract and any future production of hydrochloric acid.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration; changes in reserve estimates if any; the potential productivity of our properties; changes in the operating costs and changes in economic conditions and conditions in oil and gas production and exploration and the unproven nature of alternative energy technologies and its commercial viability. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2004 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.