Edgeline Holdings, Inc. (OTCBB: ELHI)
HOUSTON–(BUSINESS WIRE)–Edgeline Holdings, Inc. (OTCBB: ELHI – News) announced today that it has formed New EnerSource, Inc., a wholly owned subsidiary, to develop and procure enhanced oil recovery technologies and develop international hydrocarbon plays. New EnerSource will actively pursue new innovative technologies that are in the early development phase from universities and other entities to utilize in reviving old fields that still have large reserves that were once thought unrecoverable. New EnerSource estimates that Texas alone has over 100 billion barrels of oil that are classified as unrecoverable.
Enhanced Oil Recovery (EOR) is a generic term for techniques for increasing the amount of oil that can be extracted from an oil field. Using EOR, 30-60%, or more, of the reservoir’s original oil can be extracted compared with 20-40% using primary and secondary recovery technologies.
About Edgeline Holdings, Inc.
Headquartered in Houston, Texas, Edgeline Holdings, Inc. is a publicly traded holding company that specializes in the area of discovering and acquiring leading-edge niche technologies. These technologies will be incubated and nurtured into market ready applications. Edgeline’s current and prospective portfolio consists of early stage companies that require management expertise to further develop the technology to ultimately maximize the value of such technologies by bringing them to market through licensing arrangements and partnerships.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company’s ability to successfully acquire and develop technologies that are and may be acquired. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Edgeline’s future business and financial results, refer to Edgeline’s Quarterly Report on Form 10-QSB for the quarter ending June 30, 2007, and Annual Report on Form 10-KSB for the year ended March 31, 2007. Edgeline Holdings undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
Contact:
Edgeline Holdings, Inc., Houston
J. Leonard Ivins, 713-621-5208
Investors@edgelineholdings.com
Source: Edgeline Holdings, Inc.
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