Cassandra Oil signs memorandum of understanding with a Royal Saudi Arabian company.

Cassandra Oil AB is pleased to inform of the signing of a memorandum of understanding regarding a new Joint Venture in Saudi Arabia with Tomorrow Environment Company (”TECO”), part of HRH Prince Faisal Bin Muqrin Abdulaziz’s group of companies with headquarters in Jeddah, Saudi Arabia.Cassandra Oil and TECO have agreed to form a joint company based in The Kingdom of Saudi Arabia with the main intention to process oil waste products relating to TECO’s licence with ARAMCO. The JV will also process other hydrocarbon rich waste such as used tires. The intent is to, during the first year,