SOURCE: Freestone Resources
DALLAS, TX--(Marketwire - Dec 10, 2012) - Freestone Resources, Inc. (OTCQB: FSNR) announces that its joint venture, Aqueous Services, LLC has begun to sell water to a Houston-based exploration and production company for the purpose of fracking an Eagle Ford well in Wilson County, Texas. Temporary pipe, storage and pumping equipment provided by the exploration and production company will be utilized in order to transport the water from the Aqueous Well to the fracking location.
Freestone is also pleased to announce that Aqueous Services has been fully funded by its joint venture partners, and will utilize these funds to simultaneously begin construction of the permanent water management and load out facility.
"Aqueous was formed less than a month ago, and we've already received our first purchase order to provide water for fracking purposes," said Clayton Carter, President and CEO of Freestone Resources. "It's very exciting to announce that Aqueous will begin generating a revenue stream so soon after its formation, and moreover prior to the completion of the permanent water management facility."
"This example just proves our market research regarding demand for a sustainable water source throughout the play. We are excited about the position of Aqueous Services in this rapidly developing market," said Frates Seeligson, CEO of Aqueous Services.
Freestone Resources is pleased to be a part of Aqueous Services. The construction of Aqueous' first revenue generating facility is the beginning of multiple anticipated water management sites that will be constructed throughout the Eagle Ford. Working with strategic partners in the area, these future sites will provide sustainable water resources for future drilling operations in the region.
About Aqueous Services, LLC:
Aqueous Services is a joint venture between Freestone Resources, Inc., Pajarito W&M, LP. and International Aqueous Industries, LLC for the purpose of developing a shale oil and gas water management facility in Wilson County, Texas.
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.