America Asia Petroleum also announced that it was awarded a patent for its new US Patent SOT shale oil extraction technology, US Patent SOT 11 30825.
This new, patented process of extracting crude oil from shale rock combines the latest testing and operational technology while also providing the new retort system. This new process will allow the extraction of a higher volume of oil from the shale and does not pollute nor use water for processing. http://www.oilandgasonline.com/content/news/article.asp?docid=e52addbe-da3b-4fbf-976d-a20e9fc3efee&a...
What potential does this type of technology have you ask? Well lets just consider this....
It is estimated that nearly 62% of the world’s potentially recoverable oil shale resources are concentrated in the USA.
The largest of the deposits is found in the 42 700 km2 Eocene Green River formation in north-western Colorado, north-eastern Utah and south-western Wyoming.
Data reported for the present Survey indicate the vastness of US oil shale resources: the proved amount of shale in place is put at 3 340 billion tonnes, with a shale oil content of 242 billion tonnes, of which about 89% is located in the Green River deposits and 11% in the Devonian black shales. Recoverable reserves of shale oil are estimated to be within the range of 60-80 billion tonnes, with additional resources put at 62 billion tonnes.
All field operations have ceased and at the present time shale oil is not being produced in the USA. http://www.worldenergy.org/wec-geis/publications/reports/ser/shale/shale.asp
That is what I called untapped $$. Oil prices will most likely continue to increase. All major Oil companies are looking at both the shale oil in the west and the Tar sands in Canada. That patent may be worth alot.