BEDFORD, Texas, January 2, 2014 /PRNewswire/ --
PetroTech Oil and Gas Inc. (OTC: PTOG) (the "Company" or
Petrotech") today announced That PTOG is in negotiations with a
major Service Company in the Oil Field Service Industry to
establish an exclusive area in this multi-billion dollar industry,
to utilize and market new completion technologies that will work
with our current technologies. These technologies replace toxic and
harsh chemicals; they are green and environmentally, friendly. They
also will eliminate some of the dangers in the industry. Recently
workers were killed applying chemicals to a well; the products we
will be providing are more effective and food grade approved by the
FDA.
Eddie Schilb says, "We believe we
will have an agreement in place by the middle to end of January,
with the holidays and recent ice storms along with harsh weather in
our areas past; we believe we can start back to work on
Navarro County."
PTOG has recently executed an LOI to acquire some producing
wells approximately 15 miles from our current wells in Navarro County. The lease has two profitable
producing wells; that we researched and viewed the last three years
production history. This could put a net of $12,000.00 a month into the company. The lease
also has multiple drilling locations in multiple formations.
The transaction would be approximately 40% stock and require
the balance in cash.
About PetroTech:
PetroTech Oil and Gas, Inc. uses multiple patent technologies
for Enhanced Oil Recovery and in some cases will use their new
pumping system co developed by PetroTech. We will use this patented
technology with other proven technologies currently used in the
industry to drill, complete equip new drill wells and older wells
with secondary production opportunities.
For more information please go to our websites, which can be
found at: http://petrotechog.com
Certain information discussed in this press release may
constitute forward-looking statements within the Private Securities
Litigation Reform Act of 1995 and the federal securities laws.
Although the Company believes that the expectations reflected in
such forward-looking statements are based upon reasonable
assumptions at the time made, it can give no assurance that its
expectations will be achieved. Readers are cautioned not to place
undue reliance on these forward-looking statements. Forward-looking
statements are inherently subject to unpredictable and
unanticipated risks, trends and uncertainties such as the Company's
inability to accurately forecast its operating results; the
Company's potential inability to achieve profitability or generate
positive cash flow; the availability of financing; and other risks
associated with the Company's business. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Website: http://www.petrotechog.com
Phone: 888-568-7111 Email: info@petrotechog.com
Investor Relations Gabriel Rodriguez E Relations Group
888-261-6537
SOURCE PetroTech Oil and Gas Inc.