BEDFORD, Texas, February 20, 2014 /PRNewswire/ --
PetroTech Oil and Gas, Inc. (OTC: PTOG) (the "Company" or
"PetroTech) announced today it will leverage its expertise in
natural resource development in enhanced oil recovery and launch
LP.US Management Group, Inc. The partnership allows The Company to
secure a leadership position in the rapidly developing marketplace
around legalized Cannabis and Hemp production.
LP U.S. Management Group, Inc. which owns
(http://www.legalizepot.us) is structured around three main
divisions, including Entertainment Arts, Information and News, and
Cannabis and Hemp Production. These divisions will work cohesively
to produce and market medicinal and recreational marijuana, as well
as the many fiber, oil and seed related Hemp products produced for
home and commercial use. The Company is acquiring warehouse
facilities in Telluride, CO, and
currently has three growers in Colorado and two in Washington, with immediate plans for expansion
already formalized.
The management group, led by Founder, Steven Machat, includes professional producer
and comedian Jae Benjamin serving as
President, Founding Member, and music industry icon Flash as
Founding Member and informational activist largely responsible for
getting the legalization of marijuana on the upcoming Florida voting ballot in January. "Our
management team has a diverse capability set with a proven
understanding and application of creative marketing, disseminating
information through traditional and digital media and music, making
business growth decisions in this rapidly emerging marketplace in
the best interest of shareholders, and a complete understanding of
the methods, logistics, and distribution processes necessary to
bring the best Cannabis and Hemp products to the people."
Additional information can be found at LP.US Management Group,
Inc.'s website at http://www.legalizepot.us.
About LP.US Management Group, Inc.
PetroTech's subsidiary, LP.US Management Group, Inc., was
founded to enter the rapidly growing medical and recreational
Cannabis and Hemp market with the goal of establishing business
licenses and opportunities around the legal cultivation, production
and distribution of Cannabis and Hemp related products and
services. All decisions made by the management team are subject to
legal compliance and advice of counsel.
DISCLOSURE:
PetroTech and LP.US Management Group, Inc. are planning on
executing their business objectives in accordance with current
State and Local Laws and Federal Enforcement Policies and
Priorities as it relates to Cannibis and Hemp. Potential investors
and current shareholders are cautioned that PetroTech and LP.US
Management Group, Inc. will obtain advice of counsel prior to
actualizing any portion of their business plan. This advice, with
regard to specific activities of PetroTech and LP.US Management
Group, Inc., State, Federal, or Local legal action, or changes in
Federal Government Policy or State and Local laws, may adversely
affect business operations and shareholder value.
About PetroTech Oil and Gas, Inc.:
PetroTech Oil and Gas, Inc. uses multiple patent technologies
for Enhanced Oil Recovery (EOR), and, in some cases, will use their
new pumping system co-developed by PetroTech. Throughout
the United States, there are
primary depleted oil reservoirs representing billions of barrels of
oil that lend themselves to the use and exploitation of Enhanced
Oil Recovery and PetroTech Oil and Gas, Inc.'s proven patented
technology. Without EOR technology, these reservoirs will yield
only about 20% of their original oil reserve. Gas injection EOR is
a proven method that has been in use over the last 50 years in the
oil fields of West Texas,
Kansas, Oklahoma, Michigan, Wyoming and Oklahoma. Starting in the late 1990's,
PetroTech began researching various EOR methods to find an
alternative gas to pure CO2 for EOR. In doing so, the Company
discovered that a N2-CO2 mixture was 2-3 times more efficient than
CO2 in the recovery of stranded oil. PetroTech was introduced to a
patented exhaust unit that was more efficient than regular CO2,
with a prototype of that equipment being built for injection
purposes and being further developed for commercial use.
PetroTech has analyzed the different types of oil producing
reservoirs in most of the major geological basins in the United States, and has determined that the
use of our extraction methods will enhance the recovery of stranded
oil reserves in these areas that otherwise may never be produced.
The pinnacle reefs, other reefs in Texas make excellent reservoirs for EOR
because they are compact, have consistent reservoir properties,
thick pay columns, and are overlain by an impermeable cap seal.
However, other formations have responded favorably as well. These
reservoirs represent over 300 million barrels of recoverable
stranded oil. PetroTech's patented method and technology has the
potential to have a major impact on the recovery of stranded oil in
U.S. basins. This statement is based, in part, on the fact that
there is an unlimited source of gas, an inexpensive infrastructure
to transport the gas, and data that supports that a mixture of CO2
and N2 is more efficient than CO2, in some trials.
The cost and recovery of a project will be dependent on size of
structure and depth, and will range depending on the type of
formation and treatment design. Company forecasts project it will
yield an additional 20% to 40% of oil in place, in a period of 5
years. Each successful project is estimated to have a six to twelve
month payout.
For more information please go to our website, which can be
found at: http://petrotechog.com
CONTACT:
PetroTech Oil and Gas, Inc.
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.