Glori Energy Selected as Finalist for the World Petroleum Council Excellence Awards
03 Juin 2014 - 3:15PM
Glori Energy Inc. (Nasdaq:GLRI) ("Glori"), an energy technology
company, today announced it has been selected as a finalist for the
World Petroleum Council Excellence Awards ("WPCEA"). Chosen from
more than 100 nominated technologies, Glori's AERO System has
reached the final three in the "WPCEA for Technological
Development" category.
Stuart Page, CEO of Glori Energy, said: "We are pleased that
Glori's AERO System is being recognized for its technological
achievements in biotechnology enhanced oil recovery. Presented
every three years, the WPC Excellence Awards are well respected
around the world. We look forward to attending the WPC Congress and
are honored to be in the company of the other distinguished
finalists."
Mr. Page will present the AEROTM System at the 21st World
Petroleum Congress on Monday, June 16 at Crocus Expo International
Exhibition Center in Moscow, Russia.
ABOUT GLORI ENERGY INC.
Glori Energy Inc. (Nasdaq:GLRI) is a Houston-based energy
technology company known for its proprietary AEROTM System, a
highly efficient, biotechnology process for increasing oil recovery
from existing reservoirs. Only one-third of all oil discovered in a
typical reservoir is recoverable using conventional technologies;
the rest remains trapped. Glori's AERO technology recovers trapped
oil by stimulating a reservoir's native microorganisms to
sustainably increase the ultimate incremental recovery. Glori
applies its technology to fields the company acquires and
redevelops onshore in the U.S., and also provides its AERO System
as a service to third party E&P companies. For more
information, visit www.GloriEnergy.com.
ABOUT WORLD PETROLEUM COUNCIL EXCELLENCE
AWARDS
Every three years at the World Petroleum Congress, the World
Petroleum Council recognizes some of the most outstanding projects
and innovations in the oil and gas sector with the WPC Excellence
Awards (WPCEA). The objective of the WPCEA is to distinguish
companies, institutions or any public or private organization (not
individuals) engaged in the oil and gas industry for promoting or
operating with high excellence standards. Companies can submit
projects to be recognized for technological development or social
responsibility. For more information, visit: www.21wpc.com.
FORWARD LOOKING STATEMENTS
Any statements contained herein which are not statements of
historical fact may be deemed to be forward-looking statements,
including, without limitation, statements identified by or
containing words like "believes," "expects," "anticipates,"
"intends," "estimates," "projects," "potential," "target," "goal,"
"plans," "objective," "should", or similar expressions. All
statements by us regarding our possible or assumed future results
of our business, financial condition, liquidity, results of
operations, plans and objectives and similar matters are
forward-looking statements. Glori gives no assurances that the
assumptions upon which such forward-looking statements are based
will prove correct. Forward-looking statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions (many of which are beyond our control), and are based
on information currently available to us. Actual results may differ
materially from those expressed herein due to many factors,
including, without limitation: the risk that any projections,
including earnings, revenues, expenses, margins, or any other
financial expectations are not realized; competition and
competitive factors in the markets in which Glori operates; the
expected cost of recovering oil using the AERO System, demand for
Glori's AERO System and expectations regarding future projects;
adaptability of the AERO System and development of additional
capabilities that will expand the types of oil fields to which
Glori can apply its technology; plans to acquire and develop
additional oil fields and the availability of debt and equity
financing to fund any such acquisitions; the percentage of the
world's reservoirs that are suitable for the AERO System; the
advantages of the AERO System compared to other enhanced oil
recovery methods; and Glori's ability to develop and maintain
positive relationships with its customers and prospective
customers. Although Glori believes that the expectations reflected
in such forward looking statements are reasonable, it can give no
assurances that such expectations will prove to be
correct. These risks are more fully discussed in Glori's
filings with the Securities and Exchange Commission. Glori
undertakes no obligation to update any forward-looking statements
contained herein to reflect events or circumstances, which arise
after the date of this document except as required by
law.
CONTACT: Media Contact
Meredith Frazier
BIGfish Communications
(513) 402-8833
Glori@BIGfishMarket.com
Glori Energy (CE) (USOTC:GLRI)
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