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Brookmount Explorations, Inc. Enters into Negotiations for Exclusive Licensing Rights for Industry Changing Proprietary Diluent Enhancement Technology for Heavy Oil
Brookmount Explorations, Inc. Enters into Negotiations for Exclusive Licensing Rights for Industry Changing Proprietary Diluent Enhancement Technology for Heavy Oil.
About this update from Brookmount Explorations, Inc.
[{"type":"text","content":"\n \n \n Brookmount Explorations, Inc. Enters into Negotiations for Exclusive Licensing Rights for Industry Changing Proprietary Diluent Enhancement Technology for Heavy Oil\n \n \nBrookmount Explorations, Inc. Enters into Negotiations for Exclusive Licensing Rights for Industry Changing Proprietary Diluent Enhancement Technology for Heavy Oil\n \n LOS ANGELES, CA--(Marketwired - Jul 11, 2017) - Brookmount Explorations, Inc., (OTC PINK: BMXI) a U.S. exploration and development company, is pleased to announce it has entered into negotiations for a definitive licensing agreement for the exclusive use and sale of \"DilBoost\" (Diluent Boost) a proprietary diluent formulation blend that significantly reduces bitumen viscosity and increases API gravity.\n The company is currently negotiating for the above ground application rights for DilBoost in the United States. Brookmount is also negotiating for the first right of refusal for the rights to the in-ground application for the United States as well as both above and in-ground applications for Canada.\n According to the U.S. Geological Survey Energy Program, there are more than 36 billion barrels of measured natural bitumen (heavy oil, or tar sands) in the U.S. Moreover, Canada is home to the third-largest proven oil reserve in the world, estimated at 171.0 billion barrels; most of it is in thick, oil sands. More broadly, heavy oil, extra heavy oil, and bitumen make up approximately 70% of the world's total resources of 9 to 13 trillion barrels.\n DilBoost is a proprietary blend of light hydrocarbons that is licensed globally by RHOR Barbados Inc., an oil services company. DilBoost, which is a cold process, is added to heavy crude and extra heavy oil, prior to refining, and enables oil producers to reach pipeline specifications at a lower cost. In fact, DilBoost is a more efficient and cost effective product than other diluents and drag reducing agents being used today.\n Based on extensive field test results, the DilBoost technology substantially reduces current diluent costs by up to 53%. Purchasing and transporting diluent is one the heavy oil industry's largest day-to-day operational expenses. In the U.S. production costs account for 24.5% of a barrel of oil and in Canada it is 43.4%.\n Securing the American rights to a revolutionary product like DilBoost will be a game chang...