SulphCo KorAsia, Inc., formerly OIL-SC, Ltd, is a company which introduces advanced technologies such as SulphCo’s Sonocracking™ Technology and H2OIL’s Nanotechnology and provides environmental and economic solution to Korean oil and chemical industries.

SulphCo KorAsia is currently having close partnerships with two of world’s leader; SulphCo, Inc. which has developed ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products, and H2OIL Corporation which has developed F2-21 nanotechnology additives for gasoline, diesel fuel, engine oil and bio-fuels to significantly improve fuel economy and reduce emissions.

SulphCo KorAsia entered into an agreement with SulphCo on February 2005. We have the exclusive right to introduce SulphCo’s proprietary Sonocracking™ Technology to Korean refiners, as well as to other regional refiners and other parties that can benefit from the technology on a non-exclusive basis. Our goal is to complete ongoing Sonocracking test program utilizing the 2,000 barrels/day demonstration plant installed in Shiheung-Si, conducts test programs with prospective customers and finally enter into commercial contract in the fall.

In preparation of rolling out marketing initiatives, we opened another SulphCo KorAsia office in Seoul on April 5, 2006 and appointed 5 directors to the company. And we will begin trading on the Korean over the Counter Market beginning April 30th, 2006.

H2OIL and SulphCo KorAsia entered into exclusive distribution agreement on September 2005 to market and sell H2OIL’s F2-21 NanoRon products in Korea. To introduce F2-21 NanoRon- which is registered with US EPA and has been selected by the United Nation as most effective and economic additives for air pollution problem and energy conservation and also has been best selling fuel additives in Japan, China, Singapore, Thailand for many years- to Korean market, we have been performing many trials to diesel bus and boiler companies. In fact, we already made a contract with Shin Heung Bus Company in Dae Gu city on January 2006 and are supplying them F2-21. For expansion of supply and contract with other companies, further tests in other bus companies are in process of trials.