Business
Skye Petroleum, Inc. Results and Progress
Skye Petroleum, Inc. Results and Progress.
About this update from Skye Petroleum, Inc.
[{"type":"text","content":" SKYE PETROLEUM, INC. News Release Stock Symbol: SKPO December 20, 2010 Skye Petroleum, Inc. Initial Results and Progress Skye Petroleum, Inc. (\"Skye\"), using its slip-stream well treatment method for paraffin control on stripper oil wells owned by Universal Resources Holdings, Inc. (\"Universal’), has realized significant improvement in total fluid and gas pressure in their initial results. Brad Hofert, Field Supervisor for Universal, who was present during the treatment process, said, \"We have observed a substantial and recognizable increase in gas pressure following the Skye treatments.\" He also noted that he \"heard fluid pouring into the tank batteries after only hearing trickling before.\" John Nalbone, Jr., President of Universal, stated, \"We have been very encouraged by the initial results from a series of our shallow glade oil wells in Warren County, Pennsylvania. These high paraffin 1980’s vintage wells, which at best produced ¼ BBL of fluid per day, now produce up to five (5) to seven (7) BBLs of fluid per day. We are now proceeding to treat twelve to fourteen additional wells at this time.\" The initial contract between Skye and Universal has expanded to cover twenty (20) wells from the initial three (3) wells. Brad Knollenberg, CEO of Skye, said, \"The Skye treated wells displayed wonderful results ...