On November 16, 2018, Gary Don Edwards resigned as Chief Investment Officer of Freestone Resources, Inc. (the “Company”) and as a member of the Company’s Board of Directors to be effective on the date of his resignation.
FSNR shares held by the Officers, Directors, Previous Officers and Directors, and the JV Dynamis to a total of * 42,798,442 * per the recently released Def 14c
Share structure per the Def 14c released on 10/25/2018 is currently 98,238,177 issued and outstanding shares of the Company’s common stock. FSNR currently has 5,000,000 authorized shares of preferred stock, with none issued or outstanding. Authorized shares of common stock is 600,000,000.
Link to the information Statement - All Other (definitive) (def 14c): https://ih.advfn.com/stock-market/USOTC/freestone-resources-inc-qb-FSNR/stock-news/78542665/information-statement-all-other-definitive-def-1 ; None of the officers, directors, previous officials, or the JV have sold a single share - not one share. Below is a breakdown of shares owned in desending order of share size held: Gerald Johnston, Advisory Board ... 15,404,167 *** (The major shareholder, and is the retired CFO of Tyson Foods, a multi billion dollar company)
*** Clayton Carter, Former CEO ... 7,605,000
*** Don Edwards, Former CIO ... 6,500,000
*** Michael McGhan (and spouse), CEO, Chairman, President ... 5,500,000 *** (Former CEO of both billion dollar companies Hanover Compressor- now Exterran, and Valerous Compression Services)
*** Dynamis, JV Partner ... 5,000,000
Below is an aerial photo of the CTR facility wholly owned by Freestone Resources:
|Paul E. Babb, CFO and Director ... 2,789,275 |
____________ NOTE: None of the above have ever sold a single share ____________
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PETROZENE is a solvent that breaks down paraffin, disperses oil tank sludge, and has other unique industrial-use qualities. PETROZENE is made from a byproduct of recycled petroleum-based products, so it will not contaminate the oil reserve to which it is being applied. Furthermore, the process that creates PETROZENE helps reduce the worldwide problem that petroleum waste products pose to our environment every year.
The discovery of PETROZENE began with a desire to solve the environmental hazards that various petroleum waste products pose to the environment. Freestone Resources, Inc. has worked with numerous industry partners to recycle these post-consumer materials, and utilize their byproducts in a proprietary way for the oil and gas industry.
PETROZENE has many uses within the oil industry. Below are the applications that are currently available:
Oil Tanker & Oil Tank Solutions:
PETROZENE has been shown to be an effective dispersant of oil sludge buildup. The research efforts of Freestone Resources, Inc. and industry partners have shown it to be especially effective in large, long range oil tankers. With the proper amount of PETROZENE applied to each shipment of oil, they have produced results that show a dramatic reduction in oil sludge buildup on the bottom of the tanks. These same results have been shown in oil storage tanks as well. With the proper application of PETROZENE, costs and operational downtime due to cleaning can be cut dramatically for each.
Oil Well Enhancement:
Freestone Resources, Inc. has also done thorough research concerning oil well enhancement with the application of PETROZENE. Freestone has discovered that a minimal amount of PETROZENE utilized down the wellbore will dissolve and further inhibit Paraffin and asphaltene buildup in the well casing. This buildup of paraffin causes other problems such as clogging up lines, pump failures, pressure bursts, and seal failures which can all be dramatically reduced with the proper application of PETROZENE.
Numerous independent studies have shown that a minimal amount of PETROZENE decreases the viscosity of heavy oil. These tests indicate that PETROZENE can be utilized in pipelines that transport heavy oil in order to increases their efficiency and flow rate.
We are currently researching many other uses and applications. If you or your company feel there may be a unique application within your business or would like to work with us to create a specific solution, feel free to contact us.
Petrozene™ Applications and Uses
Petrozene™ has many uses within the oil industry. Depending on the application we can supply Petrozene™ in drums, totes, oil tanker trucks or rail car loads. Below are the applications that are currently available.
- Paraffin buildup
Prevent buildup of paraffin in boreholes, tubing, flowlines, lead lines, treaters, stock tanks, pipelines, pumps & separators
Keeps oil from solidifying and forming caking layers in equipment and pipelines
De-emulsifier Agent – Rapid separation of oil, sediment and water. Petrozene™ has been conclusively shown to be effective in the de-emulsification of production tanks by lowering the BS&W of the oil.
Formation Injection – potential increase in oil and gas production
Oil storage tanks
Oil storage on ships, trucks, rail
Tar residue and separation
Refineries – cleans lines, etc.
Oil Sludge clean-up
Lowers BS&W (Basic Sediment and Water)
Petrozene Web Site;
FSNR is a OTCQB (not a pink)
Link to free real time Level -2 quotes. Also includes trade data such as bids and asks and short interest: