FOYJ .07 consolidation tomorrow above .10 HUGE OIL PLAYER -70% POSITIVE NEWS IN LAST DAYS IT WAS .30
Foy-Johnston Redirects Corporate Focus to Capitalize on Enhanced Oil Recovery Foy-Johnston Redirects Corporate Focus to Capitalize on Enhanced Oil Recovery DOVER, DE, Mar. 15, 2010 (Marketwire) --
DOVER, DE -- (Marketwire) -- 03/15/10 -- Foy-Johnston Inc. (PINKSHEETS: FOYJ), through its wholly owned subsidiary Liquid Gold International utilizing the enhanced oil recovery technology sees enormous opportunities. Below is a brief summary of this opportunity:
The Liquid Gold Opportunity:
Abandoned wells in the U.S. are estimated to hold 377 Billion Barrels -- more than double the cumulative production to date.
It is estimated that 2/3 of oil contained in the U.S. reservoirs is left behind because it was too difficult or too expensive to extract.
Stripper wells (average production of 2 barrels per day) amount to 28 - 30% of U.S. production and 4 - 5% of consumption.
Heavy oil has more than double the reserves of conventional oil.
The dependence on heavy oil production is bound to increase.
The State of California alone contains approximately 80 billion barrels of original oil in place that could be tapped with a successful thermal recovery method.
A big motivating factor for U.S. recovery is the need for the U.S. to lessen its dependence of foreign oil, hence there is a focus on secondary and enhanced oil recovery technology to extract oil from mature onshore U.S. fields.
"This opportunity has the potential to exceed everyone's expectations and we feel goes beyond anything out there in the marketplace that could provide such exceptional returns to our shareholders," stated Winay Sangsomborn, President of Foy-Johnston Inc.
About Foy-Johnston Inc.
Foy-Johnston is a venture capital firm that specializes in discovering and exploiting new technologies that have enormous commercial application and explosive revenue potential. The Liquid Gold International enhanced oil recovery system presents those very qualities that Foy-Johnston's management team has identified to meet those criteria. Our website is www.foyj.us
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Foy-Johnston Enters Into Negotiations for Producing Properties With Expanded Producing Possibilities Foy-Johnston Enters Into Negotiations for Producing Properties With Expanded Producing Possibilities DOVER, DE, Mar. 12, 2010 (Marketwire) --
DOVER, DE -- (Marketwire) -- 03/12/10 -- Foy-Johnston Inc. (PINKSHEETS: FOYJ), through its wholly owned subsidiary Liquid Gold International, has entered into negotiations to acquire additional producing oil properties in areas where heavy oil deposits are prolific that can best utilize the enhanced oil recovery technology.
These potential acquisitions are consistent with Foy-Johnston's new strategy of adding quality long life reserves. We are looking at properties that will have greater than five year reserve life left in them once our enhanced oil recovery technology is utilized to bring new life to the well. The areas that we are negotiating are in California, Texas, Oklahoma and Kansas, all known oil producing regions and all known regions that have heavy oil deposits and reserves.
"Now we are working on the acquisition phase of the EOR strategy which will result in giving the company additional sustainable long term revenue streams," stated Winay Sangsomborn, President of Foy-Johnston Inc.
About Foy-Johnston Inc.
Foy-Johnston is a venture capital firm that specializes in discovering and exploiting new technologies that have enormous commercial application and explosive revenue potential. The Liquid Gold International enhanced oil recovery system presents those very qualities that Foy-Johnston's management team has identified to meet those criteria. Our website is www.foyj.us
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Foy-Johnston Closes Its Liquid Gold International Inc. Acquisition Foy-Johnston Closes Its Liquid Gold International Inc. Acquisition DOVER, DE, Mar. 12, 2010 (Marketwire) --
DOVER, DE -- (Marketwire) -- 03/12/10 -- Foy-Johnston Inc. (PINKSHEETS: FOYJ), a venture capital company, is pleased to announce that it has closed its acquisition of Liquid Gold International Inc. a leader in the enhanced oil recovery business. The Company has non-exclusive license rights to the use of new, cutting edge technology which creates new opportunities within the industry. The business plan of Liquid Gold is centered on the utilization of this heavy oil recovery system, which sets it apart and gives it a distinct advantage over other companies in the field.
The advantages of the Liquid Gold International process:
No exploration Risk No international or offshore risk Compactness of unit and low cost of unit Unit is totally portable, very easily transportable No drilling costs Superior technology No polluting surfactants, no residual toxic solvents, no green-house gases No pipeline or injection wells needed No separation techniques needed, oil contains no water, solvents or sand. With this acquisition Liquid Gold becomes a wholly owned subsidiary of Foy-Johnston Inc.
Foy-Johnston has positioned its energy business as a significant strategic business area and will continue to acquire attractive oil assets in order to establish a more robust and well-balanced business portfolio.
"We have been working for the last 3 months on closing this acquisition as we feel that this company will be the future of the oil industry and the revenues and profits derived from this business will be substantial giving shareholders above average returns," stated Winay Sangsomborn, President of Foy-Johnston Inc.
About Foy-Johnston Inc.
Foy-Johnston is a venture capital firm that specializes in discovering and exploiting new technologies that have enormous commercial application and explosive revenue potential. The enhanced oil recovery business presents those very qualities that Foy-Johnston's management team has identified to meet those criteria. Our website is www.foyj.us
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
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