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HALLIBURTON COMPANY AND MICRO MINING TECHNOLOGIES ANNOUNCE LICENSING AGREEMENT FOR ENVIRONMENTALLY SOUND ADVANCED OXIDATION PROCESS TECHNOLOGY
DALLAS, Texas and CALGARY, Alberta, Canada - Halliburton Energy Services, Inc. and Micro Mining Technologies Int'l Inc. (MMI) have finalized an exclusive multi-year international licensing agreement for MMI's Advanced Oxidation Process (AOP) technology. The technology will be utilized for the remediation of hydrocarbon-contaminated drill cuttings. Construction of the first AOP prototype, to be delivered under the Halliburton licensing agreement, is scheduled for completion during the second quarter of 2001. Halliburton Energy Services is a business unit of Halliburton Company (NYSE: HAL). Micro Mining Technologies Int'l Inc. is a wholly owned subsidiary of Micro Mining Technologies Ltd. (CDNX: MMZ).
Micro Mining Technologies Senior Vice President, Michael H. Diebel commented, "Micro Mining is very excited to be partnering with Halliburton, which will accelerate the international distribution and commercialization of our technology. The AOP technology will enable operators to significantly enhance existing environmental performance and will provide the opportunity to conduct business without damaging ecosystems."
"This license agreement between Halliburton Energy Services and Micro Mining Technologies Int'l has the potential to provide unparalleled 'cradle to grave' solutions for our clients' drilling fluids and cuttings management issues," said Jody Powers, president of Halliburton Energy Services. "This project will also further enhance Halliburton's Total Fluids Management initiative and demonstrates, once again, our commitment to finding better solutions for our customers."
Halliburton Energy Services provides products, services, and integrated solutions for oil & gas exploration, development, and production. Capabilities range from initial evaluation of producing formations to drilling, completion, production enhancement, and well maintenance - for a single well or an entire field. With more than 300 service centers in more than 90 countries, Halliburton possesses the global perspective that is increasingly important for energy exploration and production.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, energy equipment, construction, and maintenance company. In 1999, Halliburton's consolidated revenues were $14.9 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries.
Micro Mining is a publicly listed high-tech industrial company, which is presently commercializing its technology into the oil & gas, mining, and power generation and environmental sectors. Micro Mining's mandate is to provide sound environmental solutions through advanced technologies for public and private industry. Micro Mining's website can be accessed at www.micromining.com.
Contact
Wendy Hagan
wendy.hagan@halliburton.com
Halliburton Company
Public Relations
(p) 713.676.5619
Gloria A. Miller
micromin@telusplanet.net
Micro Mining Technologies Ltd.
Corporate Relations
(p) 403.274.1334
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