International Oil & Gas Holdings to Acquire Bio-Fuel and Bio-Chemical Company

Dallas, Texas [RenewableEnergyAccess.com] International Oil & Gas Holdings Corporation (IOGHC) signed a letter of intent to acquire Bio Tech / PSP Science Technology, an Oklahoma corporation, comprised of a team of scientists, which has developed a proprietary and patented method to produce biofuels and biochemicals from renewable energy sources. Bio Tech / PSP Science Technology currently operates a four million gallon per year (mgy) pilot plant in Guymon, Oklahoma, and hopes to expand the plant further to create a 30 mgy plant. The company will typically expand to five initial production plants, which will consist of 15 production lines matching the pilot plant line, yielding 450 mgy per plant, or 2.25 billion gallons per year total, and eventually leading to international expansion when five U.S. plants are fully operational.

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