quarterly filed...no SS change in many years...majority held by insiders...increased revenues...no convertible debt...cyclic mover - folks look at the chart and patents they hold https://www.otcmarkets.com/stock/SKPO/disclosure
Skye Chem AD-RTU (Asphaltene Dispersant - Ready to Use) Solvent surfactant combination for the removal or asphaltenic deposits from production strings, formations, pipelines, and vessels.
Summary: Skye Petroleum, Inc. located in Sugar Land, Texas, offers production chemical treatment services to oil companies that battle flow assurance issues relating to paraffin, asphaltene and sludge. The Company also offers a significant line of Drilling and Completion fluids, as well as a concentrated degreaser agent that has performed extremely well against the competition. The Production Chemistries, which were developed over several years and sold under the Skye Chem name, are unique as they perform powerfully in many different regions. Skye has reported successful results in suspending paraffin, asphaltene and sludge in many of the major oil producing states in the US; such as, Texas (Permian Basin and Eagle Ford Shale Formations), North Dakota and Pennsylvania, in addition to many other locations. Once the paraffin wax has been returned to liquid form, it will remain in that state all the way to the refinery. Lab testing has also shown the chemistry to be effective against paraffin wax in other parts of the world. Due to these results, Skye is seeking partners to expand internationally into significant oil producing countries. Skye’s chemistries are effective in oil wells, flowlines, storage tanks, pipelines, vessels, railcars, terminals and refineries. The chemistry was designed to be effective on a wide range of paraffin waxes and to work quickly. Larry Gatlin, a seasoned veteran in oilfield chemistry, stated that the Skye Chem Wax Dispersant (WD-RTU) chemical is the fastest acting paraffin dispersant he has seen, on the widest number of paraffin samples. Skye Petroleum, Inc. is a publicly traded corporation listed on the OTCMarkets “Current Information” Tier.
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