BTW the first, second, or last driller of those wells got skinned alive because they were using now obsolete technology. Those drillers failed because they used a steam assisted gravity drainage (SAGD) process to recover heavy oil from the Grassy Creek, Missouri formation. SAGD is costly, energy intensive, and produces toxic wastewater. At low oil prices, SAGD was too costly which is why the first, second, or last driller of those wells got skinned alive!! PCT LTD has now created a Paradigm shift in EOR with its Nano-Catholyte™!! As a result PCTL has already validated "significant improvement over that existing SAGD tech in the same Grassy Creek, Missouri heavy oil formation where those others have failed!!
Maverick has started seeing oil production from Nano-Catholyte™ at a fraction of SAGD’s cost. Doug Humphreys said: “I’ve never seen an oil cut like this from my (heavy) oil field.” Doug decided to expand the test to his light oil well in Holdenville, OK.
The results convinced Doug Humphreys, CEO of Maverick Energy Services, to test Nano-Catholyte™ in his heavy oil wells. Maverick has used steam (SAGD) to produce oil from this field. SAGD is costly, energy intensive, and produces toxic wastewater. At low oil prices, SAGD was too costly.
Canadian oil companies use SAGD for their oil sands. As a result, Canada has struggled with over one trillion liters of toxic wastewater.
David Holcomb, Ph.D., President of Pentagon Technical Services, said: “Nano-Catholyte™ could change enhanced oil recovery around the world and eliminate toxic oils sands wastewater. It is so effective that the industry could re-open old, abandoned wells.”
As noted by Doug Humphries of Maverick Energy Services, “This technology has the potential to reduce costs, prolong the life of the well and shake up the multi-billion dollar oil industry.” Paradigm Convergence Technologies Corporation, a company focused on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies announced today that it has signed a Memorandum of Understanding (MOU) with LeadGreen Energy Services Limited. LeadGreen Energy Services Limited will provide a cash investment for the purpose of drilling a 7-spot pattern in the Grassy Creek, Missouri formation to be drilled and operated by Maverick Energy Services. The drilling will provide further demonstration and validation of Enhanced Oil Recovery methods utilizing PCT’s fluids and processes. https://www.otcmarkets.com/stock/PCTL/news/story?e&id=2234987
