PRRY Planet Resource Recovery Inc (PK)

Planet Resource Recovery, Inc. (Pink Sheets:PRRY), is pleased to announce it has executed a service agreement with Foster Oil and Gas of Independence, Kansas, to treat a series of wells with its proprietary product, PetroLuxus�. The various wells selected for treatment are located in the Southeastern quadrant of Kansas and are typical representations of the area being relatively shallow with sandstone formations. Foster Oil & Gas has over six hundred wells in the region that potentially may be treated. Additionally, Foster Oil & Gas has elected to pilot test the effectiveness of PetroLuxus� on a coal-bed methane gas well in the same region. Gas production at the selected coal-bed methane well has ceased due to blockage. Due to the inherent qualities of PetroLuxus�, it is anticipated it will restore gas flow. Positive results from this pilot well test will offer the opportunity to treat many other coal-bed methane wells and potentially provide an economic means to increase gas production from this resource. Foster Oil & Gas estimates there are more than 8,000 coal-bed methane wells currently operating in Kansas and Oklahoma alone. Planet Resource Recovery, Inc has scheduled treatments with PetroLuxus� to commence by mid-June 2008. About Foster Oil & Gas Foster Oil & Gas was formed by William H. Foster, Jr. ("Bill") in 1962, with offices in Shreveport, Louisiana, and Fort Worth, Texas. During the 1960s, many prospects were initiated and successfully developed in the Wilcox Trend of eastern Louisiana and north-central Texas. Most notable was the discovery of the Foster (Marble Falls) Field in 1975. This discovery resulted in the drilling and completion of more than 90 oil and gas wells. Foster became interested in the development of coal-bed methane gas from coal seams in the Cherokee Basin in southeastern Kansas. Foster moved to the region in 1993 and since that time Foster Oil & Gas has been involved with the development of more than 120 coalbed methane gas wells, including drilling, completions, re-completions, pipelining, metering and operation of the wells and related gathering systems. Also during this time, Foster became interested in re-activating old shallow oil wells, mostly drilled in the oil boom of the early 1980's, but not producing since then because of lower oil prices. Many of these wells were acquired and put back into production since today's high oil prices make them economically attractive. There is the added dimension of water flooding some of these oil-producing leases that enhances the profitability of these projects even more. These projects are ongoing. For additional information visit: http://www.fosteroilandgas.com. About Planet Resource Recovery, Inc. Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the PetroLuxus(TM) family of products, a proprietary environmentally friendly chemical compound that dislodges oil in practically all natural and man-made environments. The PetroLuxus(TM) family of products are effective and efficient solutions for the remediation and recovery of petroleum-based products. PetroLuxus(TM) applications include Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm cleaning, marine ship cleaning, remediation of oil sludge pits, treatment of raw fuel feedstocks, waste oil segregation and biodiesel, to name a few. Through the acquisition and formation of wholly owned subsidiaries, Planet Resource Recovery, Inc. deploys the PetroLuxus(TM) products. Oil Recovery Ventures, Inc. deploys PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery market. For an audio/visual demonstration of PetroLuxus(TM), click on the link http://www.planetresource.net/index-21.html. For more information visit: http://www.planetresource.net or http://www.petroluxus.com. Safe Harbor Statement Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.