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Petrotech Oil and Gas Inc. Updates on Company Progress
Petrotech Oil and Gas Inc. Updates on Company Progress.
About this update from Petrotech Oil & Gas Inc
[{"type":"text","content":"\n\n\n\nPetrotech Oil and Gas Inc. Updates on Company Progress\n\n\n\n\n\nPetrotech Oil and Gas Inc. Updates on Company Progress\nPR Newswire\nBEDFORD, Texas, November 14, 2013\n\n\n\nBEDFORD, Texas, November 14, 2013 /PRNewswire/ --\n\nPetroTech Oil and Gas Inc. (OTC: PTOG) (the \"Company\" or Petrotech\"), today announced the following company updates: Petrotech is pleased to inform our shareholders that our Nowata Lease in Oklahoma is progressing ahead of schedule. The Battery Tanks have now been installed, the roads are done and new piping is in place, and Three Gas wells are being put into production along with the reworking that is in progress.\n\n\"The company is planning based on the engineering reports to do up to Three new drills, on the same Nowata Lease \" said Eddie Schilb President of PTOG, \"This would be an added revenue stream that was not expected from this lease initially, and plans for the first new drill could bring in $50,000.00 a month, 20 BOPD.\"  We will continue to keep our shareholders updated on our progress as we move forward\" He added.\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 alternative gas to pure CO2 for EOR. In doing so, we found that a N2-CO2 mixture was 2-3 times more efficient than CO2 in the recovery of stranded oil. Recently we have been introduced to a patented exhaust unit t...