Earth Search Sciences Announces Development of New Marketing Program for Hyperspectral Data Packages Over Key Mineral and Oil & Gas Regions
April 28th, 2005
KALISPELL, MT–(MARKET WIRE)– Earth Search Sciences, Inc. (OTC BB:ESSE.OB – News), a proven supplier of reliable data in the exploration for new mineral discoveries by airborne hyperspectral remote sensing announces the development of a new, industry-standard setting, marketing program featuring packaged data covering key development regions of the world.
Earth Search’s hyperspectral scientist, Dr. Joe Zamudio, said, “The hyperspectral remote sensing industry has been a custom order, custom flight, custom data collection business since its beginning. This has made it expensive and time consuming for customers. Earth Search now has enough data in its archive from key exploration regions in the world to begin packaging it differently. Customers will be able to buy the end results, a completed map of hyperspectral imagery over an area of minerals or hydrocarbons that is a hot exploration region, in the size they want.”
The Earth Search data archive covers over 200,000 sq. km. from 4 continents. Existing remote sensing technology provides the ability to identify objects primarily by shape or a general spectral response. However, Earth Search Science’s revolutionary hyperspectral imaging can measure a fine degree of spectral reflectance of solar energy from across the spectrum and allow the user to identify specific minerals and substances on the surface of the earth by their diagnostic reflectance patterns.
The new ESSI website at http://www.earthsearch.com features detailed presentations by CNN’s Lou Dobbs and the National Geographic Explorer on the history of the Company’s first exploration ventures. See the Letter to Shareholders (http://www.esseob.com/index.php?sc=12) for the latest Corporate update.
This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.
Comments Off
DOE pushes oil shale development plan. Government says resource can provide a domestic supply of fuel for military
April 7th, 2005
A push to develop oil shale as a strategic resource important to America’s defense got a shove forward late last month at a meeting in Salt Lake City. The U.S. Department of Energy hosted the March 30 meeting aiming to convince local governments in Utah and Colorado, congressmen and potential developers that oil shale is important to America?s defense. According to the DOE, petroleum reserves are dwindling and oil shale can provide a domestic supply of fuel for military hardware.
In December, the DOE’s Office of Naval Petroleum and Oil Shale Reserves issued a report that predicts a shortfall in the worldwide oil supply within the next 20 years as demand continues to rise. According to the DOE, America needs a strategic plan to develop oil shale as an alternative fuel before oil reserves give out.
The Piceance Basin in western Colorado, eastern Utah and southern Wyoming holds one of the world?s richest deposits of oil shale. At the turn of the last century, the U.S. Navy set aside those resources as the Naval Oil Shale Reserve to preserve the resource for future strategic use.
Interest in the plan by the U.S. Department of Defense will likely drive the plan, said Jim Evans, executive director of the Northwest Colorado Council of Governments, who attended the Salt Lake City meeting.
“They are very much interested in it. They have had a real problem in Iraq over distributing fuel,” he said. The DOD is aiming to have a standard fuel, possibly jet fuel, that could come from oil shale – because it is a secure domestic resource and it works for jet fuel,” he said. “They are prepared to go forward with some type of purchase plan so it would be a guaranteed market and perhaps a guaranteed price, and that alone could be the driving force for the plan to go forward.”
At a hearing before the U.S. Senate Energy and Natural Resources Committee May 1, lawmakers will consider tacking on a section to the national energy bill authorizing the strategic oil shale plan to go forward, Evans said.
If it?s sanctioned, and funded by the federal government, the plan could focus on the oil shale reserves either in Colorado or Utah. Because the March 30 meeting was in Salt Lake City, Glenn Vawter said he believes a research facility could be located in Utah. Vawter is a retired executive with TOSCO, one of the primary players in the development oil shale in Parachute during the 1970s boom.
?I think it will be in Utah because it?s a bit more open (than Colorado). They want the development and more employment. They don?t have the big boom of the tourism industry,? Vawter said.
However, Evans said he thinks the Piceance Basin just north of Rifle could be a good target because Shell Oil already has a research program in place on 22,000 acres it owns in the basin.
Also key to the plan is attracting industry to undertake oil shale development, Vawter said. The DOE has outlined various incentives for industry that it will present to Congress for approval at the May 1 hearing, including tax incentives, price and loan guarantees and royalty ?holidays.?
Both Evans and Vawter are concerned about repeating the mistakes of the oil shale boom and bust in the ?70s.
“On its face, the plan emphasizes research and development, and that is the right approach,” Vawter wrote in a “My Side” in this issue (see page 10). “But it disturbed me that a goal was established of some 2 million barrels a day of shale oil production in the next two decades. I understand the government managers need this goal to impress Congress and Administration that the effort, and cost to the taxpayers, is worthwhile in the larger scheme of things. But it is certainly the way to scare the local public into a revolt against the plan.”
Evans is also worried about seeing the same social and economic impacts of another energy boom and bust. The last bust took place on what is locally known as Black Sunday, May 2, 1982, when Exxon abruptly closed its Colony Oil Shale plant in Parachute, putting 2,100 people out of work in one day.
“Let industry develop it in a natural manner in response to high energy costs,” Vawter said, and not be driven by unreasonable goals that could sacrifice due consideration of environmental and social impacts.
Contact Donna Gray: 945-8515, ext. 510
Comments Off
Earth Search Sciences Inc. Joins Multi-Sensor Imagery Collection and Analysis Team — MICAT
April 7th, 2005
KALISPELL, Mont., (PRIMEZONE) — Earth Search Sciences, Inc. (OTC BB:ESSE.OB – News) today announced its membership in a collaborative team to provide remote sensing services to a number of military and government entities.
The team is composed of: Intelligence Identification Integration LLC of West Virginia, Institute for Scientific Research Inc. of West Virginia, Mohawk Technologies LLC of Florida and Earth Search Sciences Inc. (ESSI). It is known as the “Multi-Sensor Imagery Collection and Analysis Team” or MICAT.
The term of the agreement is for two (2) years with the option of extension. Each of the parties has a high skill level in the provision of hyperspectral and other imagery acquisition and data analysis products, coupled with end-to-end servicing. Working together as a team allows the individual members to complete larger and more complex jobs. ESSI Chairman Larry F. Vance said, “The collaboration is another example of ESSI’s new strategy to expand company business by the creation of alliances specific to each of the many critical industries its hyperspectral technology can assist.”
ESSI’s experience in providing remote sensing services to clients such as: U.S. Army Corp of Engineers, U.S. Naval Labs, Bureau of Land Management and the U.S. Forest Service makes the company a strong contributor to this unique business team.
Earth Search Sciences, Inc., http://www.earthsearch.com is a pioneer and leading collector of airborne hyperspectral data. The technology gathers information that when analyzed, can identify site locations for further evaluation in determining specific natural and man-made materials. The technology speeds the discovery process for toxic, mysterious or dangerous substances and can aid the goals of Homeland Security.
Comments Off