Luis F. Lugo Named CEO of Earth Search Sciences

Larry Vance, formerly chairman and CEO of Earth Search Sciences, will continue in his role as chairman of the board. Vance said Lugo's appointment is a critical step in moving the company and its subsidiaries forward in the development and commercialization of its breakthrough technologies. Vance also cited Lugo's experience with acquisitions, mergers and joint ventures as key to positioning Earth Search as a substantial presence in domestic heavy oil development and production.

"Luis Lugo has an impressive record of aiming high and consistently achieving goals," said Vance. "His experience in securing investment will allow Earth Search and its key subsidiary -- Petro Probe, Inc. -- to begin practical testing of its technology and subsequent full-scale development of oil shale and other selected heavy oil reserves. We're fortunate to have attracted him to the team and are thrilled to have him on board."

Lugo brings substantial experience in oil gas and other process industries. He previously served as Director of Finance and Strategy for 3AG Distribution (Elf Aquitaine Oil Lubricants Venezuela) and was involved in securing capital investment and in developing the distribution system which helped the company achieve six percent of the Venezuelan lubricants market in its first three years of operations. Lugo also served as Engagement Manager of global chemicals and strategy practices for Arthur D. Little Management Consulting, and as Strategy Analyst for BP Amoco where he developed analytical and financial modeling and valuation of acquisition targets forLatin America, Europe andEast Asia. Lugo holds an MBA in International Business Finance and an MA in International Economics from The George Washington University in Washington D.C.

Lugo cited Earth Search Science's differentiating factors as a key element to his accepting a position with the company.

"Earth Search's hyperspectral imaging capability has tremendous potential and significant environmental advantages over other technologies, as does Petro Probe's patented technology to develop hydrocarbon products from oil shale," said Lugo. "Virtually all the pieces have been assembled to enable environmentally-safe and efficient exploration of America's vast heavy oil resources within the very near future. We have established a clear path to grow and develop Earth Search Sciences and Petro Probe in the oil shale, tarsands and heavy crude market segments."

About Earth Search Sciences -- http://www.earthsearch.com

Earth Search Sciences, Inc.'s (OTC Bulletin Board: ESSE) revolutionary hyperspectral technology provides the ability to accurately read the chemical properties of surface substances from great altitudes and produce easily interpreted maps allowing the user to identify specific minerals and substances on the surface of the earth by their diagnostic reflectance patterns. Ultimately, this remote sensing capability identifies a greater number of exploration targets quickly and economically, monitors the environmental situation, and improves the probability of finding anomalies. Older, more conventional methods would take decades to cover the same area, and at a much greater cost. Within the realm of exploration, remote sensing does not replace the need for geological knowledge, geochemistry, geophysics, seismic, drilling, etc, which are some of the more conventional tools used for exploration. The application of Earth Search's patented and IP-protected hyperspectral technology cuts across the commercial, medical and military spectra.

About Petro Probe -- http://www.petroprobe.com

Petro Probe, Inc. is a private petroleum company using advanced technology in the search for and production of hydrocarbon products. The company was formed in 2000 as a majority-owned subsidiary of Earth Search Sciences, Inc. (http://www.earthsearch.com), a public company listed on the OTCBB exchange under OTCBB: ESSE. Petro Probe's mandate is to identify and develop hydrocarbon properties utilizing Earth Search Science's exploration programs. Earth Search recently acquired the licensed rights to a new in situ oil shale recovery system it believes will provide an economical and environmentally-acceptable means to recover oil from oil shale deposits.

This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.

SOURCE Earth Search Sciences, Inc.

Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze, Daily News

Tags: Oil, Gas and Energy, , Environment, montana

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