PEMEX and CHMR collaboration on new non-hydraulic shale oil extraction system begins in Mexico City

8/13/2012

PEMEX and CHMR collaboration on new non-hydraulic shale oil extraction system begins in Mexico City

MEXICO CITY -- Chimera Energy Corp has announced that company management has been scheduled to directly meet with PEMEX associates in Mexico City beginning this Monday regarding a collaboration for utilizing CHMR’s exothermic Non-Hydraulic Extraction method throughout Latin America.

The initial deal between the two companies was publicly announced yesterday. The Non-Hydraulic Extraction method is a shale oil extraction technology designed to safely and economically replace hydraulic fracturing without negative environmental impacts. The new process uses no water.

PEMEX is the largest company in both Mexico and all of Latin America. Some of the largest concentrations of shale oil in the world are located throughout Latin America. The MOU precedes a supplemental encompassing agreement.

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