U.S. Oil Consumption Powers Opportunity for BlueFire

  U.S. Oil Consumption Powers Opportunity for BlueFire

BlueFire developing advanced offshore production equipment

Business Wire

HOUSTON -- October 16, 2013

In response to the need for new technologies that reduce operational costs and
risks in the booming Gulf of Mexico deepwater drilling environment, BlueFire
Equipment Corporation (OTCQB:BLFR) announces it is in the process of
developing leading edge equipment for use with deepwater offshore wells.

The U.S. will be the world’s largest consumer of crude oil for years to come
and offshore oil is primed to satisfy this colossal energy appetite. Oil and
gas expert Dr. Tyler Priest discussed the benefits of offshore production in a
Wall Street Journal article. He reported that the raw energy produced by a
single offshore oil platform in 2010 – BP PLC’s Thunder Horse facility in the
Gulf of Mexico – was equivalent to the electricity generated in 2012 by all
the wind and solar installations in the U.S. combined.

According to Dr. Priest, annual federal proceeds from offshore leases have
ranged as high as $18 billion in recent years, second only to income taxes as
a revenue source.

Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said,
“The deep-water Gulf of Mexico has become the world’s fastest growing offshore
market. Drilling activity in this area is growing to turn major discoveries
into producing fields.” He added, “BlueFire’s highly qualified research and
development division is poised to deliver solutions for challenges associated
with these high temperature, high pressure wells.”

As previously announced, BlueFire recently filed a provisional application
with the United States Patent and Trademark Office (USPTO) for its proprietary
offshore production equipment. The new equipment design is yet another
platform in BlueFire’s growing portfolio of intellectual property, and was
filed as a direct result of recent meetings with an oil major regarding
technology development.

BlueFire’s first patent filing related to its polycrystalline diamond cutter
(PDC) drill bit technology was issued on January 24, 2012 as U.S. Patent
8,100,201. A second patent disclosing further claims for PDC drill bits and
methods is currently under review by the USPTO, file number 12/833,413.

Details about BlueFire Equipment Corporation (OTCQB:BLFR) and information
about obtaining a quote are available at www.bluefireequipment.com.

About BlueFire Equipment Corporation (OTCQB:BLFR)

BlueFire Equipment Corporation designs and manufactures proprietary drilling
technologies for use in the exploration and production of oil and gas in the
United States. It sells and leases various sizes of polycrystalline diamond
cutter (PDC) drill bits to drilling contractors and oil and gas companies.
BlueFire Equipment Corporation was founded in 2008 and is headquartered in
Houston, Texas, where other major exploration and production companies have a
presence.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange act of 1934, as amended, including statements
that include the words "believes," "expects," "anticipates," or similar
expressions. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of the company to differ materially from those expressed or
implied by such forward looking statements. In addition, description of
anyone's past success, either financial or strategic, is no guarantee of
future success. This news release only speaks as of the date of its
distribution.

Contact:

BlueFire Equipment Corporation
William Blackwell, 866-713-3700
 
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