BEDFORD, Texas, October 24, 2013 /PRNewswire/ --
PetroTech Oil and Gas Inc. (OTC: PTOG) (the "Company" or
Petrotech"), today announced that President Eddie Schilb will be interviewed live by
Michal Yorba of the Traders
Financial Network on 10/24 at 2:45 central
time. The interview will be on Petrotech's Investor page
within 24 hours for investors to listen to the recording
http://petrotechog.com/investor
"We appreciated the opportunity to be interviewed by
Michael Yorba," stated Eddie Schilb, President of Petrotech Oil and Gas
Inc."
About Traders Financial Network:
Michael Yorba interviews the
front-page Titans about the latest in trading Tools and market
trends. Learn how the experts use risk management Techniques to
build fully diversified portfolios. It's a fast moving, high Energy
show that presents stocks, commodities, bonds, forex and
derivatives
In a new light and keeps investors asking for more. With high
profile guest As Kenneth
Polcari frequent contributor to CNBC,
Chris Clair Managing Editor
of Reuters Hedge World, Peter
Costa Governor of the NYSE and Anthony Scaramucci Founder of Ski Bridge
Capital with over 8 Billion under management. These are
just a few of the world renowned investors that share their sought
after insights on the show.
The Traders Network airs weekdays from 1-3pm on KFXR/1190-AM with over 400,000 listeners
and growing. It can also be heard online through the iheartradio
app.
About PetroTech
PetroTech 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 that was more
efficient than regular CO2. A new prototype of that equipment was
then built for injection purposes; and is in the process of being
further developed for commercial use.
We have analyzed the different types of oil producing reservoirs
in most of the major geological basins in the United States and have determined that the
use of our process and method will enhance the recovery of stranded
oil reserves in these areas that otherwise may never be produced.
The pinnacle reefs, other reefs in Texas make excellent reservoirs for EOR
because they are compact, have consistent reservoir properties,
thick pay columns, and are overlain by an impermeable cap seal.
However other formations have responded favorably as well. These
reservoirs represent over 300 million barrels of recoverable
stranded oil using our patented method and technology. CO2 floods
have been successful on the reefs in the US with rates as high as
1000 BOPD. Our process will have a major impact on the recovery of
stranded oil in U.S. basins. This statement is based on the fact
that we have an unlimited source of gas and we do not need an
expensive infrastructure to transport the gas, plus the fact that
it is proven that a mixture of CO2 and N2 is more efficient than
CO2 in some trials.
The cost and recovery of a project will be dependent on size of
structure and depth; the cost will range depending on type of
formation and type of treatment design. Hopefully, per project we
will capture an additional 20% to 40% of oil in place. Attempting
to do this in a period of 5 years as opposed to the original 20% of
oil that has already been produced; which may have taken ten to
twenty years. Each successful project is estimated to have a six to
twelve month payout.
For more information please go to our websites, which can be
found at: http://petrotechog.com
Certain information discussed in this press release may
constitute forward-looking statements within the Private Securities
Litigation Reform Act of 1995 and the federal securities laws.
Although the Company believes that the expectations reflected in
such forward-looking statements are based upon reasonable
assumptions at the time made, it can give no assurance that its
expectations will be achieved. Readers are cautioned not to place
undue reliance on these forward-looking statements. Forward-looking
statements are inherently subject to unpredictable and
unanticipated risks, trends and uncertainties such as the Company's
inability to accurately forecast its operating results; the
Company's potential inability to achieve profitability or generate
positive cash flow; the availability of financing; and other risks
associated with the Company's business. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Website: http://www.petrotechog.com Phone:
888-568-7111 Email: info@petrotechog.com
Investor Relations Gabriel Rodriguez E Relations Group
+1-623-255-5750
SOURCE PetroTech Oil and Gas Inc.
