PetroTech Oil and Gas, Inc. is a recognized leader in our industry. Our Company was developed in a world where new technologies and global markets have changed the equation for profits in one of the world’s most lucrative industries. As a result, our Company has adopted a winning strategy to derive immediate revenue from existing reserves that have literally been left in the ground.
PetroTech Oil and Gas, Inc. initiates, operates, and develops Enhanced Oil Recovery (EOR) opportunities within qualifying oil reservoirs in the United States using its Enhanced Oil Recovery method and technique. Also, PetroTech Oil and Gas, Inc, is a construction and heavy equipment company and may bid on various third party jobs for State and Independent Oil Companies in the form of fee or Joint Venture; including but not limited to the Work over, Treating, Installation of Production equipment or Plugging of abandoned wells with the State Compliance Agency and bid on Road work for the State or independents as well; PetroTech Oil and Gas, Inc intends to obtain a license to gather oil / pick up from tank batteries and conduct trading of oil and other commodities, hydrocarbons and currency. PetroTech Oil and Gas, Inc is working on developing and acquisitions of technology in secondary oil recovery, oil and gas reporting software, trading software and Nitrogen and CO2 injection equipment. PetroTech Oil and Gas, Inc. expects to utilize its technology within depleted reservoirs throughout the United States capturing hundreds of million barrels of stranded oil, therefore creating significant value for its partners and shareholders. Enhanced oil recovery is also called improved oil recovery or tertiary recovery (as opposed to primary and secondary recovery).
The deployment of new technologies, which greatly reduce operating and extraction costs, allow PetroTech Oil and Gas, Inc. to bring back to production previously producing wells and recognize near term cash flow. These funds provide the capital to further develop properties, resulting in reserve appreciation.
Our target markets for acquisitions are large and small overlooked oil reservoirs where we can maximize oil production and recoveries while minimizing the injection time frame and capital investment. Based on our Reservoir Models, we believe payout on any particular project will be between 6 and 12 months with IRR exceeding 300% during the initial 3-year production period.
Petro tech does plan to Joint Venture new drill opportunities in more conservative exploitation ventures.