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PetroTech Oil and Gas Inc. Interim Corporate Updates
PetroTech Oil and Gas Inc. Interim Corporate Updates.
About this update from Petrotech Oil & Gas Inc
[{"type":"text","content":"\n\n\n\nPetroTech Oil and Gas Inc. Interim Corporate Updates\n\n\n\n\n\nPetroTech Oil and Gas Inc. Interim Corporate Updates\nPR Newswire\nBEDFORD, Texas, October 21, 2013\n\n\n\nBEDFORD, Texas, October 21, 2013 /PRNewswire/ --\n\nPetroTech Oil and Gas Inc. (OTC: PTOG) (the \"Company\" or Petrotech\"), today announced the following interim updates: Petrotech is pleased to inform our shareholders that our attorneys are completing the necessary paperwork to complete the filings of our Form 10 application, along with the completed audited financial statements by October 30, 2013.\n\nPetrotech is also pleased to announce that we have completed the due diligence on the Brown Lease acquisition, and are moving towards closing date as soon as possible. We are also working towards a production date on our Integrated Leases in Corsicana, Texas.\n\nThe Brown lease acquisition once completed will bring production to Petrotech Oil and Gas of approximately 15 to 20 BOPD. This will give the company an estimated monthly revenue stream of $60,000.00 per month, and the opportunity to drill more wells, capable of producing up to 50 BOPD.\n\n\"We are very excited at the opportunity to become a fully reporting company, with complete transparency,\" stated Eddie Schilb, President of Petrotech Oil and Gas Inc. \"We are moving very fast to complete our acquisitions and bring real value to our shareholders. The management team at Petrotech will continue to work hard and bring as much production to the company as possible, and we will continually keep our shareholders updated on our progress,\" he went on to say.\n\nAbout PetroTech\n\nPetroTech Oil and Gas, Inc. uses multiple patent technologies for Enhanced Oil Recovery and in some cases will use their new pumping system co developed by PetroTech. We will use this patented technology with other proven technologies currently used in the industry to drill, complete equip new drill wells and older wells with secondary production opportunities. Throughout the United States there are primary depleted oil reservoirs representing billions of barrels of oil that lend themselves to the use and exploitation of Enhanced Oil Recovery and PetroTech Oil and Gas, Inc.'s proven patented technology. Without EOR technology, these reservoirs will produce only about 20% of their Original Oil in Place. Gas injection EOR is ...