FSNR NEWS -- Freestone Resources, Inc. Announces the

New Post Public Reply Private Reply Replies (1) Message Board

Nov 18, 2012 at 5:59 PM

FSNR NEWS -- Freestone Resources, Inc. Announces the Formation of Aqueous Services, LLC, a Joint Venture Shale Water Management Company

DALLAS, TX--(Marketwire - Nov 16, 2012) - Freestone Resources, Inc. ( OTCQB : FSNR ) announces the formation of Aqueous Services, LLC, a joint venture between Freestone Resources, Inc., Pajarito W&M, LP. and International Aqueous Investment, LLC for the purpose of developing a shale oil and gas water management facility in Wilson County, Texas.

Freestone Resources will own a one-third interest in Aqueous Services, LLC, which has signed a Water Right's Agreement to produce from an existing equipped and permitted fresh water well on the Pajarito Ranch. The Water Right's Agreement allows Aqueous Services the right to produce up to 1,500 acre-feet (the equivalent of 11,637,535 barrels) of fresh water per year.

Aqueous Services will immediately begin construction of a load out facility to begin selling fresh water, and will simultaneously be in development of a frac water and produced water recycling facility. The primary mission of Aqueous Services is to provide exploration and production companies with a full water management program that not only can provide a cost effective and constant supply of fresh water, but also promote the recycling of their produced and flowback water to advance sustainable environmental stewardship.

"The formation of Aqueous Services is an exciting opportunity to align Freestone with partners that have the same goal," said Clayton Carter, President and CEO of Freestone Resources. "This goal includes promoting energy independence through the exploration of our vast shale formations while providing resources and technologies that can achieve this goal in an environmentally responsible way."

Frates Seeligson, CEO of Aqueous Services, LLC, commented further stating that, "using state-of-the-art technologies, Aqueous Services is positioned to provide the oil and gas industry with an environmentally sound option to traditional water disposal. As demands increase on our limited water resources, stewardship of this asset is vital to everyone. To be a good corporate citizen, sound water management focusing on reuse is imperative. With Freestone Resources' position in the industry, Aqueous Services' ability to source, recycle and reuse water increases exponentially. With the development of our first full water management site we intend to prove this model and begin building these facilities throughout the United States."

About Mr. Seeligson: Frates Seeligson is President of Pajarito W&M, LP and CEO of Aqueous Services, LLC. A native of South Texas, Mr. Seeligson has been actively involved in the development and management of fresh water for over 10 years. For the past 2 years he has focused primarily on developing opportunities for the oil and gas industry to reduce demands on fresh water resources.

About Freestone Resources, Inc.:
Freestone Resources is a Dallas, Texas based oil and gas technology development company. The continuing goal of the Company is to develop new technologies that allow for the utilization of our vast resources in an environmentally responsible and cost effective way. http://www.freestoneresourcesinc.com/.

SAFE HARBOR STATEMENTS:
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
.
.
Contact:.
.

Freestone Resources, Inc.
Don Edwards
214.880.4870

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Americas Cardroom's Poker Series Hits $7.2M Haul

Massive Prize Pools Emerge in Just Four Days I found myself eyeballing some jaw-dropping numbers from Americas Cardroom's latest poker series, the Online Super Series XL. It's not every day you see nearly a hundred tournaments rake in over $7.2 million in prize pools in just four days. From September 6th to 9th, a whopping 62,847 entries signed up to make an honest...

QuickFi Nabs Top Finovate Award for Fourth Time

An Unstoppable Force in Fintech Well, if QuickFi hasn't made a name for itself in fintech, then folks, I don't know what to tell you. This year, they’ve snagged yet another prestigious Finovate Award—this time for Best SMB/SME Banking Solution. That's not their first rodeo either; it’s the fourth time they’ve walked away winners. It's almost like they're...

High-Grade Copper Spurs Optimism for PolarX in Alaska

Copper's New Pulse: PolarX Makes Waves in Alaska Ever hear about striking copper so rich it's practically shimmering? Well, PolarX Limited just might have hit that sweet spot up in the rugged expanses of Alaska. Let me tell you, when you're knee-deep in resources, like what they’re discovering at the Caribou Dome Project, it sure feels like you’ve struck modern-day...

Fermi's Founder Pushes for Board Overhaul: What's Next?

Fermi's Roller Coaster: A Founder’s Stand Seems like Fermi Inc. is on a wild ride through the business landscape, and it's giving shareholders more whiplash than satisfaction these days. Toby Neugebauer, co-founder of Fermi and the loudest voice in the room, is feeling like his company is facing some serious turbulence and seems determined not to sit idly by as it hits...

NYSE Reflects on 9/11: Honoring Lives and Legacy

A Somber Day at NYSE: Reflecting on 9/11 September 11th grips the heart of NYSE every year, but this year's 25th-anniversary powerfully reverberates through its hallowed halls. The hustle of the trading floor halts for a moment at 9:20 AM ET, paying homage to those lost in the harrowing attacks. I've seen the markets flap in the wind of countless crises, but nothing's...

Lick the Plate Hits 2,000 Shows with Clown Band

They say good things come in bizarre packages, and that's exactly the case as David Boylan's Lick the Plate zany celebration marks 15 years on air with its 2,000th episode. If you think of radio as a predictable endeavor, well, you're not tuned into Lick the Plate. A Milepost Draped in Multicolored Fabrics When you're browsing through colorful avenues of radio fame, it's...

Oil Markets Shift Focus: Pipelines Trump Drilling

Decoupling Oil Price and Production Response This oil market isn’t your usual rodeo. With Brent flirting with $100, it’s a seismic shift that’s not yielding new drills but redirecting capital to the existing infrastructure landscape. Ask yourself why we're not seeing the usual cavalry charge of new rigs. It’s simple: Pipeline mileage and producing wells have...

Modeling and Mental Health Join Forces for Wellness

A Fresh Alliance for Mental Wellness in Modeling Alright, let's shine a spotlight on a significant step in the modeling industry, a place typically less vocal about mental health. In a move that feels long overdue, Brain-Body Therapy and Mother Model Management have joined forces, marking the beginning of a collaborative effort to propel mental wellness to the forefront...

DCM Services Teams with AKUVO to Boost Estate Recoveries

Revolutionizing Estate Recovery Practices Here's the scoop: DCM Services (DCMS), that big shot in estate account resolution, is hooking up with AKUVO to shake up how credit unions handle estate recoveries. This alliance is a clear nod to modernizing a process stuck in the past. Let’s face it, handling decedent and probate accounts is no cakewalk, and traditional methods...

Streamlined AI Video Analytics for Public Safety Unveiled

AI Without the Headache Alright folks, IREX is shaking things up, and not in the usual iterative, bit-by-bit tech progression way. StreamVLM™ has been rolled out as the world's first vision-language model (VLM) analytics engine tailored for the public safety sector—specifically, for cloud platforms. I’ve been around the block enough times to spot a significant shift...