Costa Mesa, California, October 11, 2012 – ProOne’s Drilling Fluid has been demonstrated to be “non-hazardous to aquatic life” while it’s high temperature lubricating capabilities in water-based “mud” (WBM) exceeds those of typical oil-based mud (OBM). For drill rig owners, this means not having to sacrifice lubricating and rate of penetration characteristics while significantly reducing drilling costs and environmental risks. Having passed several of the most stringent U.S. (LC50) and Canadian (Microtox D50) test for aquatic safety, ProOne’s Drilling Fluid works with WBM and outperforms OBM in many situations where an OBM is needed but not feasible or permitted.
The LC50 test for aquatic toxicity determines the lethal concentration (LC) of a material at which 50% of the specimens (fish or crustaceans) die when exposed to it for 96 hours. In suspended particulate phase (SSP) testing, ProOne was tested in a water-based mud mixture with a No. 7 drilling fluid. A minimum 30,000ppm is required to pass and the industry prefers 150,000ppm. At a 3% concentration ProOne Drilling Fluid achieved 470,000ppm level, 15 times the margin of safety. At a 5% concentration ProOne achieved a 240,000ppm level, 7 times the margin of safety. During the tests, at all SSP and lubricant concentration, all of the fish specimens survived.
It was further determined that the LC50 rating of the ProOne’s Drilling Fluid is greater than 750mg/L where materials with and LC50 above 500 mg/L are considered “non-hazardous” to aquatic life. In contrast, No. 2 diesel fuel (the primary constituent of oil-based mud) is highly toxic to aquatic life and humans and contains suspected carcinogens.
“Major operators throughout the industry have experienced our drilling lubricant as the product that saves them money and solves problems when the drilling gets tough,” says Tim Wagner, ProOne’s Vice President of Research & Development. “We see the LC50 test results providing huge benefits to drillers since they can have all the environmental advantages of a water-based mud while outperforming oil-based mud with improved penetration characteristics.”
Based in Orange County, California, ProOne, Inc. (ProOne), the operating division of ProOne Holdings, Inc., is in the business of developing and marketing high-performance, cost-effective, lubricants and fuel products for commercial, industrial and retail customers. ProOne produces the most advanced and effective drilling lubricant in the world. Approved for use by major drilling fluid suppliers, ProOne provides the drilling fluid through distributors such as National Oilwell Varco (NOV/Wilson). All products in the family, including the revolutionary drilling fluid, use its proprietary XPL+ technology. The products are proprietary formulations based upon metallurgical and molecular science that reduce friction substantially better than other products on the market, with over 50 times the film strength of conventional lubricants. For additional information on ProOne visit www.pro-one.us.
Statements contained in this news release, aside from those identifying historical facts, are ‘forward looking statements’ within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company’s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.