PCTL update: PCT LTD Releases Current Oilfield Testing Update
April 30, 2021 09:08 AM Eastern Daylight Time
LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (OTC PINK: PCTL) provides an update relative to ongoing infield testing at the Grassy Creek, MO testing site.
During the three weeks, January 7th – 21st, PCTL implemented its oilfield testing protocols in Grassy Creek, MO. The purpose of the in-field testing was to gather empirical data relative to whether PCT Catholyte was effective in enhancing oil production in shallow wells, and then to determine the effective enhancement of each well and what process and protocols yielded the best results. In our first round of in-field testing, we selected and tested six (6) producing oil wells (that had prior “damage”) and one (1) injection well. The baseline of 99/1 (water/oil) was established. Over the next two (2) weeks, we injected PCT Catholyte, ran dye tests and the results improved to a 97/3 ratio of water to oil. Severe weather shut in our testing for approximately eighteen (18) days. Once we were able to resume testing in March, we changed the treatment regimen, ran further dye tests, shut in 3 non-oil producing wells and assessed the findings: 92/8, a 250% increase over baseline data.
Later in March, we added three (3) new wells, increased the intervals of treatment with different specifications of PCT Catholyte, ran new dye tests and determined another increase in water/oil, up to 90/10; then saw further improvement to 80/20 by the end of March. Our most recent test results indicate a level of 60/40 water to oil ratio, which is a significant turn-around.
Testing continues and PCTL will release the findings in a technical report within thirty (30) days.
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