Freestone Resources and the Deepwater Horizon Oil Leak
Those of us who have closely examined Freestone Resources and its unparalleled EncapSol oil recovery technology eagerly await its commercial application. For those unfamiliar with Encapsol, a scrutinizing view of the videos showing how this remarkable substance works, at the Freestone Resources website, will be revealing.
The recent involvement of Michael McGhan as a principal corporate advisor further substantiates Freestone's technology. McGahn has previously built two, billion-dollar companies in the natural gas processing industry and knows the oil industry like few others. His involvement with a small start-up like Freestone can only mean that Freestone has a very promising future. The only apparent reason McGhan would associate himself with Freestone would be because of EncapSol. Nothing else seems reasonable, given his illustrious and successful oil industry background. EncapSol must really work, not just in the Freestone videos, but also outside of the laboratory in the company's under-development, soon-to-be-in-operation oil recovery machines.
And because of both recent and more long-term events, commercial application of EncapSol technology will be rewarding for many parties, not just Freestone shareholders. The massive Deepwater Horizon oil leak is an example.
Not only are BP, Transocean (RIG), and Halliburton (HAL) incurring continuing liabilities with this leak, the disruption of Gulf Coast fisheries and recreation resources are ominous.
The EPA, the Coast Guard, and a number of state agencies and officials are all legitimately concerned about this most unfortunate deep water oil extraction episode. How the leak will be stopped is still a question. But even if the leak can be stanched or completely sucked up at the leak, tens of thousands of barrels of crude will continue to circulate and pollute Gulf of Mexico waters and shores. If not another drop of oil leaks in a few days, the problems are not solved. The leaked oil will not much evaporate, except for the short-chain hydrocarbons (hence the odors being smelled along Coast areas). After the volatiles have evaporated, oily blobs of thicker goo will be washing up onto sandy beaches and fouling wetlands.
That's the real question. How can this be cleaned up after the leak is stopped?
And with conventional technologies, the outlook is not promising, as the clean-up of the Exxon Valdez spill reveals.
But because it appears that EncapSol can safely, with no pollution or toxicity, and efficiently, with almost complete recovery of the unique solvent, extract spilled oils (even very heavy ones), it makes sense that Freestone Resources will sooner or later be strategically involved with shoreline and wetland clean-up. The last-century technologies used with the Exxon Valdez clean-up involving solvents, detergents, and steam blasting do not compare with EncapSol's efficiency. Unlike the others, EncapSol recaptures virtually all of the oil it encounters. Conventional technologies leave large amounts of stranded oil residues.
The completely non-toxic nature of EncapSol must not be dismissed. Make no personal decision on this until you have read the MSDS report at the Freestone website. ("Non-hazardous / non-toxic chemical blend.")
So, will Encapsol get the attention of oil company and governmental officials? Soon, will Freestone, perhaps with McGhan's industry contacts, be demonstrating EncapSol clean-up technology? If so, the news is not likely to remain buried on a back page of the Wall Street Journal or Investor's Business Daily. What happens if some investigative reporter for NBC, ABC, CBS, or the New York Times reports that a small Texas oil technology company has a product that efficiently and economically cleans oil-soaked beach sands?
Of course, none of this relates to Freestone's much larger potential market, the clean extraction of strategic domestic quantities of oil from American and Canadian oil shales and tar sands. That's an exponentially larger story, which likely will be revealed in coming quarters.
Those of us who scrutinize Freestone Resources are watching all of this with a close eye. We like all that we see.
