Edgeline Holdings, Inc. (OTCBB:ELHI)
HOUSTON–(BUSINESS WIRE)–Edgeline Holdings, Inc. (OTCBB:ELHI – News) announced today that its newly formed subsidiary, New EnerSource, Inc., has entered into negotiations to acquire an enhanced oil recovery technology. This technology is in the proof of concept phase and would require additional funding to develop, but if successful, would address part of the unrecoverable oil market. It is estimated 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 to 60%, or more, of the reservoir’s original oil can be extracted compared with 20 to 40% using primary and secondary recovery technologies.
About Edgeline Holdings, Inc.
Headquartered in Houston, Texas, Edgeline Holdings, Inc. is a diversified 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 10Q-SB for the quarter ended 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.
J. Leonard Ivins, 713-621-5208
Investors@edgelineholdings.com
Source: Edgeline Holdings, Inc.
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