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The Lawrence Livermore National Laboratory (LLNL) and American Shale
Oil, LLC (AMSO), a subsidiary of IDT Corporation (NYSE: IDT; IDT.C),
announced today that they have entered into a technical cooperation
agreement to develop carbon sequestration technologies for in-ground
shale-oil production processes.
Specifically, LLNL will partner with AMSO to study how to use depleted
underground oil shale retorts to permanently store carbon dioxide
generated during the oil shale extraction process. AMSO will provide
technical expertise and oil shale core samples from its federal lease
site.
Oil shale can be converted to oil by subjecting it to high temperatures
and high pressures —by speeding up the geologic clock so to speak. In
early demonstration projects, LLNL researchers used explosives to
fracture the vast oil-shale reserves in the western U.S. so that the oil
could be processed in place, thus providing an important alternative to
imported oil. That effort evolved in the early 1980s into a surface
oil-shale retorting process that used hot oil-shale particles as the
heat carrier. The research also produced a model of how oil is formed in
nature. Today, this model aids the exploration efforts of nearly every
major oil company in the world.
The shale that remains in the ground after the oil is extracted could be
used as a storage place for the carbon dioxide that is created during
the extraction process.
“We’re glad to be working with the impressive staff and capabilities of
AMSO to help tackle the key environmental and technical challenges
facing domestic oil shale production,” said Julio Friedmann, program
leader of LLNL’s carbon management program. “We see this partnership in
line with our mission in energy and environmental security for the
nation.”
AMSO holds a Research Development and Demonstration (RD&D) lease from
the U.S. Bureau of Land Management for a 160-acre parcel of federal land
in northwest Colorado’s oil-shale rich Piceance Basin. Upon
demonstration of an economically viable, environmentally acceptable
extraction process, AMSO has a preference right to acquire a 5,120-acre
commercial lease.
After the oil is extracted from shale, the depleted retort of heated,
rubblized underground shale may be particularly suitable for capturing
carbon dioxide, according to Dr. Alan K. Burnham, AMSO’s Chief
Technology Officer. “Together with the Lawrence Livermore National
Laboratory, we will explore several interesting approaches to protect
the environment by sequestering CO2 through mineralization in
retorted oil shale.”
“Lawrence Livermore National Lab is a nationally recognized leader in
scientific research on clean energy production”, said IDT Chairman and
AMSO CEO Howard Jonas. “I’m delighted that the Lab will be working with
AMSO to develop carbon sequestration approaches for oil shale
production. Americans deserve affordable fuels developed using the best
available environmental protection technologies.”
Founded in 1952, Lawrence Livermore National Laboratory is a national
security laboratory, with a mission to ensure national security and
apply science and technology to the important issues of our time.
Lawrence Livermore National Laboratory is managed by Lawrence Livermore
National Security, LLC for the U.S. Department of Energy’s National
Nuclear Security Administration.
About AMSO
American Shale Oil, LLC (AMSO), (www.amso.net)
a subsidiary of IDT Corporation (www.idt.net),
is one of three companies holding a U.S. Bureau of Land Management oil
shale research, development and demonstration lease of government-owned
lands in the Piceance Basin in northwest Colorado.
AMSO’s mission is to develop its proprietary technology into a
commercially viable and environmentally sound method of producing
commercial quantities of shale oil by using in-situ extraction
processes. AMSO has developed a multi-phase plan from the initial pilot
stage through commercial conversion of the BLM lease.
About IDT Corporation
IDT
Corporation (www.idt.net)
is a consumer-focused multinational holding company.
In this press release, all statements that are not purely about
historical facts, including, but not limited to, those in which we use
the words “believe,” “anticipate,” “expect,” “plan,” “intend,”
“estimate, “target” and similar expressions, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995.While these forward-looking statements
represent our current judgment of what may happen in the future, actual
results may differ materially from the results expressed or implied by
these statements due to numerous important factors, including, but not
limited to, those described in our most recent report on SEC Form 10-K
(under the heading “Management’s Discussion and Analysis of Financial
Condition and Results of Operations”), which may be revised or
supplemented in subsequent reports on SEC Forms 10-Q and 8-K.These
factors include, but are not limited to, the following: potential
declines in prices for our products and services; our ability to
maintain and grow our retail telecommunications services, particularly
our prepaid calling card business; availability of termination capacity;
financial stability of our customers; our ability to maintain carrier
agreements with foreign carriers; effectiveness of our marketing and
distribution efforts; increased competition, particularly from regional
bell operating companies; our ability to manage our growth; impact of
government regulation; our ability to obtain telecommunications products
or services required for our products and services; and general economic
conditions, particularly in the telecommunications markets.We
are under no obligation, and expressly disclaim any obligation, to
update the forward-looking statements in this press release, whether as
a result of new information, future events or otherwise.
IDT
Investor Relations
Bill Ulrey, 973-438-3838
