Foy-Johnston: Liquid Gold Addresses Pressing Need for Domestic Oil Production
16 Marzo 2010 - 5:30AM
Marketwired
Foy-Johnston Inc. (PINKSHEETS: FOYJ), through its wholly owned
subsidiary Liquid Gold International, utilizing the enhanced oil
recovery technology, addresses the need for domestic oil
production.
In the United States, both citizens and leaders, including the
president, alike recognize that our nation must become more
dependent on domestic oil production, and less on foreign oil. One
strategy that is growing in prominence and application with respect
to petroleum is Enhanced Oil Recovery (EOR). EOR refers to the
recovery of oil that is left behind after primary and secondary
recovery methods are either exhausted or no longer economical and
effective.
Liquid Gold International's mission is to conduct EOR operations
in the oil industry.
The Company will focus on enhanced oil recovery technology to
extract additional oil from mature onshore U.S. fields. The Company
employs a unique business model which exploits our country's proven
reservoirs of oil -- assets with marginal production that still
contain significant reserves that can be produced through enhanced
oil recovery. The Company has non-exclusive license rights to the
use of a new, cutting edge technology which creates tremendous
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 this field.
Primary recovery typically provides access to only a small
fraction of a reservoir's total oil capacity. Secondary recovery
techniques increase productivity to a third or more. Tertiary
Recovery (EOR) enables producers to extract up to over half of a
reservoir's original content, depending on the reservoir and the
EOR process applied.
Professor Kishore Mahanty at the University of Houston estimates
that as much as two-thirds of the oil contained in
mainland U.S. reservoirs has been left behind because it has proved
too difficult or expensive to extract. But technological
advances and a sustained run of high oil prices has made it
attractive for smaller companies to develop assets dropped and sold
by the majors in states such as Texas, Oklahoma, Kansas, Utah and
California.
Liquid Gold is building the company on the idea that a multitude
of oil fields have already been drilled that still possess vast
potential for future extraction.
Enhanced Oil Recovery has the potential to enhance the energy
landscape that is an integral part of the foundation of the world's
economy and people's everyday lives.
It is a given that a technology which could effectively create
EOR production would stand to profit in an unparalleled way. Liquid
Gold is at the threshold of just such an opportunity. The advanced
methodology employed by Liquid Gold will set the standard in heavy
oil recovery. This Company presents an opportunity which is unique
and timely, with unlimited growth possibilities.
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.
Contact: Investor Relations E-mail: info@foyj.us URL:
http://www.foyj.us
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