I don't know what to think anymore. Needless to say, none of us really know what's going on. Months ago we're told that ACLH was undertaking oil well tests on Texas wells, and then nothing. But on B@CL's website there's a February 10, 2010 press release that states its wholly owned subsidiary, NuTech Energy, Inc. "has signed a non-binding letter of intent to acquire majority interests in five producting Texas oil wells." Further, the press release confirms, "NuTech Energy intends this proposed transaction to be the start of a program to acquire existing and marginal production oil wells and to use proprietary technology to improve the production of these wells."
So what's the "proprietary technology" that B@CL plans to use? Is it "Free Oil?" And if ACLH is the source of the proprietary technology, wouldn't you believe it would merit a press release by Kidder? What if, however, the proprietary technology will ultimately not be ACLH's?
It's not reassuring to ACLH shareholders that one of Shipley's boys might be using the other's product, and the company holding the patent doesn't PR the potential business. Why? Waiting to release the information once off the grey market? Progress over the past NINE MONTHS leads one to believe this is close to impossible. Perhaps who currently owns the patent to this proprietary technology is irrelevant, as patent ownership may change soon enough. One thing is certain though, B@CL is intent on using "proprietary technology" on Texas oil wells, and ACLH has nothing to say...
