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Petrotech Oil and Gas Inc. Plans Three New Drills for their Nowata Lease in Oklahoma
Petrotech Oil and Gas Inc. Plans Three New Drills for their Nowata Lease in Oklahoma.
About this update from Petrotech Oil & Gas Inc
[{"type":"text","content":"\n\n\n\nPetrotech Oil and Gas Inc. Plans Three New Drills for their Nowata Lease in Oklahoma\n\n\n\n\n\nPetrotech Oil and Gas Inc. Plans Three New Drills for their Nowata Lease in Oklahoma\nPR Newswire\nBEDFORD, Texas, December 16, 2013\n\n\n\nBEDFORD, Texas, December 16, 2013 /PRNewswire/ --\n\nPetroTech Oil and Gas Inc. (OTC: PTOG) (the \"Company\" or Petrotech\") today announced that they are moving forward on plans to complete three new drills on their existing Nowata lease in Oklahoma. While reworking existing wells that are now in the process, and getting the four gas producing wells into production, PTOG has decided that they are moving ahead to drill three new wells along the same line that will take approximately 90 days to complete to production, and will bring an estimated 30 bopd.\n\n\"After assessing the existing Nowata leases, and as we are progressing on the work overs that we are doing there, we were able to secure a good price on drilling three new wells on the existing property, and after studying the engineering reports we feel we have a great opportunity to drill at least three new wells that will bring in an estimated 30bopd, and give us a much better return for on the whole project\". Said Eddie Schilb president of PTOG, \"We will continue to keep our share holders updated as to our progress here.\"\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 a proven method that has been in use over the last 50 years in the oil fields of West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma. Starting in the late 1990's we started researching various EOR methods and sources of gases and mixtures of gases to find an alt...