TOPEKA, Kan., Dec. 13, 2011 /PRNewswire/ -- Nikron
Technologies, Inc. (OTC Pink: NKRN) is pleased to announce that it
is working with the Wyoming Enhanced Oil Recovery Institute in
furtherance of the common objective of a cost effective solution to
the recovery of proven oil reserves which have heretofore been
non-recoverable heavy oil.
The University of Wyoming, with the
cooperation of the state legislature, has created an Enhanced Oil
Recovery Institute (EORI) with its School of Energy Resources. The
purpose of the Institute is to assist Wyoming producers with the recovery of
"stranded" oil. Accordingly, EORI's mission includes facilitation
of the testing, evaluation and documentation of EOR technologies in
real world environments. It aims to assist in the creation of
benchmark innovative petroleum practices and transfer that "know
how" to Wyoming operators through
workshops, conferences and projects. A Technical Advisory Board
(TAB) comprised of leading experts from universities and energy
companies throughout the U.S. provides technical oversight of EORI
work (see www.uwyo.edu/eori).
In developing the most complete Wyoming EOR-specific dataset
that exists, EORI has estimated that additional recovery of oil
from the state's depleted oil fields using advanced EOR technology
could total more than 1 billion barrels of additional production
over the next 20 years. In 2009 approximately 51.3 million barrels
of oil were produced in Wyoming.
About 12 percent, or 6 million barrels, of that oil was produced
from EOR projects.
Nikron's approach, which is of extreme interest to the
Institute, is the use of super heated steam to reclaim oil in
shallow wells. Nikron has spent the past several years developing
environmentally friendly proprietary technology which relates to
high temperature steam generators used in the recovery of heavy
oil.
Dave Mohrbacher, Director of the
Institute, said: "We have been working with Nikron for some time,
and look forward to building and enhancing our cooperative
relationship. EORI has screened Wyoming reservoirs using our institute's data
base, and we have identified reservoirs in which Nikron's steam
technology may be applicable. EORI will assist with field
demonstration of Nikron's technology in Wyoming."
ABOUT NIKRON TECHNOLOGIES:
Nikron Technologies, Inc. (OTC Pink: NKRN) is a natural resource
company with the specific purpose of conducting enhanced oil
recovery operations. The Company has developed breakthrough
proprietary enhanced oil recovery technology and has an aggressive
development vision focused on utilization of this scientific system
to extract additional oil from proven, mature oil fields, thus
negating the high and risky costs associated with drilling and
exploration. The innovative Nikron technology offers a different
and exciting approach to oil development which has the potential to
be "game changing" and propel the Company to the forefront of the
industry. For more information please visit Nikron's website at
www.nikrontech.com.
FORWARD-LOOKING DISCLAIMER
This summary contains forward-looking statements within the
meaning of the "safe harbor" provision of the Private Securities
Litigation Reform Act of 1995. These statements address future
events and conditions concerning the Company's business plans. Such
statements are based on management's current expectation and are
subject to a number of factors and uncertainties, such as future
economic conditions and changes in anticipated revenues and costs,
which may cause actual results to differ materially. The Company
expressively disclaims any future obligation or undertaking to
update or revise any forward-looking statements contained herein.
Investors and potential investors should independently investigate
and fully understand all risks before making investment
decisions.
For more information contact us at:
Nikron Technologies, Inc.
3101 Southwest Shadow Lane
Topeka, KS 66604
Phone (785) 357-1055
Fax (785) 357-1105
info@nikrontech.com
SOURCE Nikron Technologies, Inc.
