Central and South America

RNS Number : 0728G

Quadrise Fuels International PLC

03 June 2013

 



3 June 2013

Quadrise Fuels International PLC

("QFI" or the "Company")

Central & South America

Quadrise, the emerging supplier of MSAR®, a low cost alternative to heavy fuel oil in the shipping, refining, and power generation markets, is pleased to announce that a Memorandum of Understanding ("MOU") has been signed by Quadrise International Limited ("QIL" a 100% subsidiary of QFI), with Ecopetrol S.A. ("Ecopetrol") the Colombian oil major, and Nexidea Incorporated ("Nexidea") of Dallas, Texas.

QFI previously announced on 5 July 2012 the execution of a Memorandum of Agreement between QIL and Nexidea, a professional consulting firm that specialises in the technical, commercial, and economic aspects of the downstream oil (refining, distribution and marketing) and power generation industries.

The execution of the MOU follows a confidential information exchange over recent months and the scope of the MOU provides for the parties to jointly identify and assess in more detail potential MSAR® business opportunities in South and Central America over a 12 month period.

Commenting on these developments, Ian Williams, Chairman of QFI said:

"We are delighted to be working with Ecopetrol to create business opportunities for MSAR® fuels with them in their region. Quadrise is appreciative of the professionalism and enthusiasm demonstrated by Ecopetrol management in our cooperation to date, and is keen and prepared to move forward promptly with the joint programme scoped out under the MOU."

For further information on the Company, please refer to www.quadrisefuels.com or contact:

Ian Williams, Executive Chairman                                            [phone]

Hemant Thanawala, Finance Director

Quadrise Fuels International PLC

Dr Azhic Basirov / Siobhan Sergeant                                       [phone]

Nominated Adviser

Smith & Williamson Corporate Finance Limited

Antonio Bossi / Ian Napier                                                    [phone]

Broker

Westhouse Securities Limited

Philip Dennis / Nick Lambert / Rollo Crichton‐Stuart                    [phone]

Public & Investor Relations

Pelham Bell Pottinger

 

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