Not looking that well...
Tyler:
I will answer your questions as below:
Paul
Mr Davey,
I have some questions for you on some company updates.
What is the status of the plant? Is the Vivacor unit hooked up and running? What is the current production rates?
The plant is not in ongoing production at this time. We’re awaiting oil prices to rise slightly. Problem is, even if we’re making a small profit or breaking even, there is a discount price on small lots of oil, which can be up to 20% off the going price of WTI, the measuring stick for prices. We have a rough goal of around $ 50.00 bbl.
Does the company have a contract to sell the produced oil? If so, has the company began selling oil and made any profits?
We have a contract with a local buying company which trucks it all up to Salt Lake City. (Profits…see my first answer.)
Has any progress been made with the remediation projects?
There’s been considerable progress on several remediation fronts. We have received a response back from Kuwait which is a request for sample testing. Our rep is in the Middle East now.
Has any progress been made with funding the 2500 bbl day plant?
We are currently discussing the funding for the 2500 bbl/day plant with several groups at this time.
I will be posting an updated PowerPoint Presentation and an updated corporate brochure either late today or tomorrow AM. I am headed down to Utah to participate in the 2016 Uintah Basin Energy Summit, where our CEO, Dr. Jerry Bailey will be one of the keynote speakers.
One element I didn’t address…..
The Vivakor mobile unit will not be used in processing oil sands feedstock….despite the fact that it has some similar features (no water needed, closed system, etc). We expect to use this unit for nearby remediation projects.
PD
Thank you,
Tyler Robison
