Karbon-X Corp Signs Letter of Intent with Resolute Resources Ltd to Offset all CO2 Emissions Associated with Resolute’s Inaugural Exploration Program at Grimshaw and to Explore Procedures and Processes Leading To Top Tier Environmental Metrics
CASTLEGAR, BC / ACCESSWIRE / March 21, 2023 / Karbon-X Corp (OTC PINK:KARX) (the “Company”) an innovative carbon marketing and project development company, announced today that the Company has entered into an agreement with Resolute Resources Ltd (“Resolute”) to offset CO2 emissions associated with the drilling, construction and extraction activities being completed on the first two exploration wells at the Grimshaw Gething exploration project.
Karbon-X will calculate the emissions that are created from the operational activities using data supplied by Resolute to enact an offsetting program using verified emission reductions and will retire the verified emission reductions in Resolute’s name. Secondly, Karbon-X will review operational practices or processes with Resolute to find any potential carbon reduction procedures that can be implemented, safely and effectively to further offset and reduce any associated emissions with Resolute’s exploration program.
“Resolute Resources has engaged Karbon-X to not only offset emissions created by their activities but to also explore ways to optimize carbon reduction.” said Karbon-X CEO Chad Clovis, “I was very excited dealing with the executive team at Resolute. The executive team taking this step forward as a junior, taking the bull by the horns and acting responsibly from day one, very impressive and innovative.”
“Resolute Resources decided to focus on exploration, and not acquiring producing assets, as we believed if we were in control of design from the outset of our project, we could deliver superior economics and superior environmental outcomes. We believe projects with strong economics and superior environmental metrics will be in high demand in the coming years. Resolute intends to be the first carbon neutral oil exploration company, from spud to sale. The agreement with Karbon-X allows us to start this process and offset our emissions from our first exploration program ” said Resolute CEO Bradley Parkes.
Source: Accesswire
About Resolute Resources Ltd.
Resolute Resources Ltd. is an exploration stage oil and gas company, currently completing an RTO to list its shares on the TSXV. Resolute has projects in NW Alberta and NE British Columbia, where the company is exploring shallow Cretaceous sandstone reservoirs that can be exploited with Multi-Lateral Open Hole wells. Resolute has accumulated greater than 20,000 acres in its GFD light oil project in NW Alberta and approximately 10,000 acres at its Evie project in NE BC. Resolute Resources is pursuing projects that are high in Environmental Social and Governance metrics and result in lower emission oil, low water use due to no hydraulic fracturing but with high economic returns.
About Karbon-X Corp.
Karbon-X Corp is a tech-based carbon marketing company specializing in the sale of carbon offsets to everyday citizens wishing to reducing their impact on the planet. The company gives users the ability to pick a project that interests them, and subsequently re-invests into carbon offset generating projects that matter most to their users. Industrial users are also afforded the opportunity to offset their environmental impact through the Karbon-X Drillgreen initiative, details of which can be found at drillgreen.ca.
