Bayshore Petroleum Corp. Tests New Oil Sands Tailings Remediation Technology
PRESS RELEASE May 11, 2020
BAYSHORE PETROLEUM CORP.
(“Bayshore” or the “Company”)
BAYSHORE PETROLEUM CORP. TESTS NEW OIL SANDS TAILINGS REMEDIATION TECHNOLOGY
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Bayshore Petroleum Corp. (TSV: BSH) is pleased to announce that its wholly owned subsidiary Bayshore
Oil Technology Corp . has collaborated with industry partners to successfully merge technologies and
test a new, innovative tailings remediation process within an experimental, in-house environment.
For that past three years Bayshore has been pursing a partial heavy oil/bitumen upgrade technology
with the objective of transform ing heavy oil into a higher quality oil which would be more suitable for
delivery through the Canadian oil pipeline system. Amid the current low oil price environment and
negative impact of the COVID-19 pandemic on the economi es around the world , activities of our partial
heavy oil/bitumen upgrade project have been substantially curtailed. Recently, the C ompany has
conducted research into how its partial upgrade technology can be utilized to remediate oil sands
tailings.
Using a specialized filtration and separation process, raw oil sand s tailings obtai ned from an oil sands
operator in Alberta and containing oily fluid (water + bitumen) and suspended fines , have been put
through a process that has successfully separated water, bitumen and t ailing solids. The system was
operated at an ambient environment condition with no heat or pressure involved. Raw oil and tailings
were fed at a rate of 20m3 per day through a processing unit. A primary objective of the process is to
have the resulting separated water meet all environmental requir ements for water recycling industrial
usage.
The initial test of the process has met Company expectations. Further tests and analysis are on going
and results will be updated to shareholders accordingly.
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For further information, please contact:
Peter Ho, Chief Executive Officer and Director [email protected]
+1 (403) 630 4355
Lance Mierendorf, Chief Financial Officer [email protected]
+1 (403) 680 8773
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities of the Company in the United States. The Company's securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any
state securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption fr om such
registration is available.
Cautionary Statements
Statements in this press release may contain forward-looking information including expectations of
future production, operating costs, commodity prices, administrative costs, commodity price risk
management activity, acquisitions and dispositions, capital spending, access to credit facilities, income
taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned
that assumptions used in the preparation of such i nformation may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those predicted, a result of numerous
known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the
Company. These risks include, but are not limited to, the risks associated with the mining industry,
commodity prices and exchange rate changes. Industry related risks could include, but are not limited
to, operational risks in exploration, development and p roduction, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of
estimates and projections of production, costs and expenses. The reader is cautioned not to place undue
reliance on this forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Bayshore Head Office:
PHONE +1 403 265 8820
FAX +1 403 290 6565
340-600 Crowfoot Crescent NW
Calgary, Alberta, T3G 0B4