name: sunny 2005/12/02

SulphCo Announces First Management Committee Meeting of New Joint Venture Company in the United Arab Emirates   SPARKS, Nev., Dec. 2 /PRNewswire-FirstCall/ -- SulphCo, Inc. SUF announced that the first management committee meeting of Fujairah Oil Technology LLC, the joint venture company SulphCo has formed with the Government of Fujairah in the United Arab Emirates, will be held on December 13 in Fujairah to elect the company's board of directors. At that time, the joint venture expects to finalize its first contract to process a minimum of 500,000 barrels per day of medium or heavy crude oil using SulphCo's ultrasound desulfurization technology as specified in the Memorandum of Understanding announced earlier, according to Rudolf Gunnerman, SulphCo chairman and CEO. Fujairah Oil Technology is 50% owned by SulphCo and 50% owned by the Government of Fujairah in the United Arab Emirates. The company will be capitalized initially with one million Dirhams (Dhs. 1,000,000, $1 US = 3.6725 Dhs.), divided equally between the two partners. Fujairah Oil Technology will own the full upgrade value of the oil after processing through the SulphCo Sonocracking(TM) technology, with the profits of any sales agreements shared 50% by the government-owned company and 50% by SulphCo. Fujairah Oil Technology will be granted the use of nine million barrels of oil storage capacity, land for facilities and utilities by the government. Sulphco's high-powered ultrasound process upgrades heavy sour crude oils into lighter sweeter crudes. It increases gravity and reduces sulfur, nitrogen and viscosity, producing more usable oil per barrel of crude. Tests run on oil similar to that which will be processed in Fujairah have produced a 10 to 15 gallon increase per barrel in middle distillates, the company said. "We're reaching the milestones that were outlined in the memorandum of understanding with the United Arab Emirates very rapidly," Gunnerman said. "We're optimistic that the joint venture will finalize this first contract in December and would anticipate to see upside in revenues in the first half of 2006."