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Double Crown Resources Signs 5 Year Agreement for High Grade Barite Ore to Supply Petroleum Drillers
HENDERSON, NV–(Marketwired – Apr 16, 2013) – Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company (hereinafter, “Double Crown”), has signed a 5 year Master Purchase Agreement with Grupro Estella, S. A. de C.V. for its strategic partner, Logistica Integral en Transportacion S.A de C.V. (http://logisticaintermodal.com) to supply barite ore (barium sulfate). The agreement will allow Double Crown to obtain large quantities of this key mineral which is needed by petroleum industry off-shore and on-shore drillers. The barite ore being made available to Double Crown is of a high grade demanded by modern drillers, per API Specifications of 4.20 density (75 micron = 3% max / 6 micron = 30% max), ground to mesh 200 13A in super sacks. Logistica Integral will be able to provide to Double Crown up to 140,000 metric tons of this barite ore per month, starting with smaller quantities and ramping up as the expected order demand increases. Projected resale on this amount of barite ore represents over $80 million in potential gross revenue over the 5 year term of the agreement.
Double Crown representatives Antonio B. Castillo and Keith A. Tubandt have just returned from an extensive trip to Mexico where they finalized the new Master Purchase Agreement. They also visited and personally inspected a number of other barite mining resource sites as additional supply sources for pending contracts currently under development. In addition to barite ore, these mining sites can also provide other vital minerals for drilling operations. Now that the key steps of establishing these supply sources are being put into place, the pending contracts for Double Crown to begin its oilfield supply service can be finalized and signed.
President and CEO Jerry Drew stated, “I am so pleased with the progress our team is making now for Double Crown Resources to become a full service operation to meet all the needs of our developing petroleum industry customer base. We are lining up an excellent selection of commodity suppliers such as Logistica Integral and others so that we will be able to act as a one-stop shopping source for each drilling customer we serve. We will also offer the highest quality materials to meet top industry standards as well as all regulations for environmental protection. I am now looking forward to soon announcing the first signings of new contracts with established drilling customers that have been awaiting our completion of the necessary supply agreements.”
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration and development company holding a 100% interest in the Bateman gold & nickel prospect near Thunder Bay, Ontario, Canada. In addition, Double Crown is targeting new properties as well as oilfield supply & service projects that have the potential for early positive cash flow. The company is presently reviewing a number of new natural resource properties that are near to, or in production, located in North, South and Latin America. Multiple oilfield service projects are currently under active development. Double Crown Resources, Inc., originally founded in 2006, is based in Henderson, NV.
For more information, please visit: http://www.doublecrownresources.com
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as “will,” “anticipates,” “believes,” “plans,” “goal,” “expects,” “future,” “intends,” and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Double Crown Resources, Inc., please refer to its website at http://www.doublecrownresources.com
Double Crown Resources, Inc.
President and CEO
2312 N. Green Valley Parkway, Suite 1026
Henderson, Nevada 89014
Phone: (707) 961-6016