Geotec Thermal Generators, Inc. (OTC BB: GETC) did an interview with WallStreetReporter.com on Thursday, Sept. 12. It will be up on WallStreetReporter's web site for only five days.
A few highlights: Operational status started in 2nd qtr 2002 doing work for joint venture partner, Sierra Corp. Sierra agreement calls for minnimum of $1 million to GETC, which should just about leed them to profitability. Geotec sees that Sierra could be 3-4 times that over the next 12 months. Sierra is working on financing up to $40 million. Several other joint venture partners and agreements have yet to be announced. More information will become transparent over the next 4-8 weeks. Funds are coming from Sierra. Geotec is just now bringing in funds, which should increase as they are successful in treating wells. Do not need to raise additional capital at this time. Goetec would hope to generate a large amount of cash, and benefit shareholders.
Geotec Thermal Generators, Inc. is an emerging oil and gas well treatment company. The Company brings to North, South and Central America the PGDBK technology which was developed by the former Soviet Union Military Research and Production Facility, NPO ALTAI, for the Ministry of Geology, USSR. This technology is designed to produce a thermo-chemical treatment of oil and gas wells, restoring and increasing productivity.
The PGDBK technology can be used to treat reservoirs of diverse geological conditions. It is designed to treat carbonates, limestone, sandstone and dolomite. Generally treatments have been performed in fractured limestone, consolidated sandstone and dolomites. Reservoirs with combinations of these sedimentary rocks have also been successfully treated with this technology.
The technology is based on a firm scientific foundation of a facility with expertise in pyrotechnics. This technology has been successfully applied to over 30,000 wells.
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