Luminart Corp. [LUMP.PK] Signs New Lease on 80 Acres in New Town, North Dakota
(firmenpresse) - STANLEY, ND -- (Marketwire) -- 03/13/12 -- Luminart Corp. (PINKSHEETS: LUMP), the parent company of Black & Blue Water Service, LLC and B 3 Well Services, announced the signing of an 80 acre materials lease contract in New Town, North Dakota today. Adding to the fully operational 160 acres also located in Montrail County, this gives B 3 240 acres of aggregate mining in that area alone.
It's estimated that the 80 acres has approximately a half million ton in reserve. B 3 generates revenue through the sale of the aggregates and the trucking of the product to oil production and road construction sites. The company currently has committed reserves capable of providing 160,000 tons per month over the next 3 years.
Additional adjacent aggregate sites would provide aggregate reserves for the next 20 years and are currently being negotiated with the landowners. Aggregate hauling revenues average $500,000 per truck per year. Aggregate material sales are all pre-sold, ranging from $6 to $22 per ton, averaging $11 per ton.
B 3 Well Services President Burke Bentley remarked, "It's great to see the business continuing to expand as it sends a message about what we're doing here in North Dakota and our commitment to the company objectives and our shareholders. The land leases have secured our business for the next 3 years and the negotiations that are ongoing should position us for ensured sustainability for years to come."
Luminart Corp.'s subsidiary B 3 Well Services is focused on the expansion of contract hauling materials for infrastructure development in North Dakota, mining and processing materials for road building, and expansion of the base camps in the North Dakota operations, sales and marketing.
Led by a skilled and experienced management team, the timely entrance to this quickly developing opportunity in the Bakken oil reserves has positioned the company to create more value for its shareholders and secure a strategic position for increased market share in the future.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Luminart Corp.'s filings with the Pink Sheets, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Luminart Corp. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
For more information contact:
CFO
Tom Maher
Phone: 307-222-0425
Email:
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Datum: 13.03.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 124199
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STANLEY, ND
Kategorie:
Oil & Gas
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