Suntec Pure Water Technologies Inc. ("Suntec") announces its results for the three and nine months ended September 30, 2007

About this update from Serrano Resources Ltd.

[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\nSymbol: SUT: TSX Venture Exchange\n\n\nCALGARY, Nov. 29 /CNW/ - During the third quarter of 2007, energy\nproducers undertook modest drilling. Suntec generated $6,240 and $65,465 of\nrevenue and a net loss of $113,947 and $1,073,625 during the three and nine\nmonths ended September 30, 2007.\n\n\nSuntec has realized substantially lower revenue than expected as the\nenergy industry responds to prolonged, lower natural gas prices and higher\ndrilling costs through a reduction in well drilling and fracturing. On\nJuly 15, 2007, Suntec's water treatment facility in Wheatland County was\ntemporarily closed in response to a severe downturn in oil and natural gas\ndrilling and fracturing activity in the area. This has effectively ceased all\nbusiness for Suntec for the foreseeable future. Accordingly, Suntec is\ncurrently seeking strategic alternatives which include licensing proprietary\ntechnology included in existing and proposed patents.\n\n\nFinancial Summary\n\n Three months ended Nine months ended\n September 30, September 30,\n 2007 2006 2007 2006\n ------ ------ ------ ------\n ($) ($) ($) ($)\n\nRevenue 6,240 68,957 65,465 237,477\nOperating expenses 120,187 261,339 1,139,090 827,753\nNet loss (113,947) (192,382) (1,073,625) (590,276)\n\nLoss per share, basic 0.00 (0.01) (0.04) (0.02)\nLoss per share, diluted (0.01) (0.01) (0.04) (0.02)\n\n\nOutlook\n\n\nSuntec has ceased commercial operations at its water treatment facility\nand as such has no active business and is currently seeking strategic\nalternatives.\n\n\nSuntec's Financial Statements and Management Discussion and Analysis for\nthe three and nine months ended September 30, 2007 can be found on the\nCanadian Securities Administrators' System for Electronic Document Analysis\nand Retrieval ("SEDAR") located at www.sedar.com.\n\n\nSuntec's common shares trade on the TSX Venture Exchange under the symbol\n"SUT".\n\n\nThis release includes forward-looking statements and potential future\ncircumstances and developments. Forward-looking statements regarding future\nperformance are subject to risks and uncertainties and actual results may\ndiffer materially.\n\n\n","length":2676,"tagName":"div"}]

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