Skye Petroleum, Inc. Provides Introduction and Company Overview
26 4월 2011 - 11:03PM
Marketwired
Skye Petroleum, Inc. (PINKSHEETS: SKPO) (the "company" or "Skye")
is a publicly traded corporation, listed on the "OTC Pink Current
Information" tier of the OTC Markets Group Inc. quotation venue,
under the trading symbol SKPO.
Skye owns a proprietary chemical technology ("Intellectual
Property" or "IP") for a paraffin treatment process for crude oil.
The technology was developed in a private laboratory in Canada and
successfully field tested in Colorado by James Ryerson, current
President of Skye. The IP is applied with Skye's slip-stream well
treatment method to stimulate and improve production profiles of
certain oil wells. Skye is capable of identifying problematic crude
oil fields where the composition of the crude oil includes pressure
and temperature sensitive paraffin compounds. Skye's treatment
method reduces and prevents the precipitation of the paraffin
compounds, while increasing the production rate of the crude
oil.
In the spring of 2010, Skye entered into a contract with
Universal Resources Holdings, Inc. ("Universal") of New York to
treat three (3) oil wells. The contract was expanded to cover
twenty (20) wells after Skye's initial success. A representative of
Universal stated, "We have been very encouraged by the initial
results from a series of our shallow glade wells in Warren County,
Pennsylvania. The high paraffin 1980s vintage wells, which at best
produced ¼ BBL of fluid per day, now produce between five (5) and
seven (7) BBLs of fluid per day."
Skye's CEO, Brad Knollenberg, said, "Since we came to the area
last spring, we have developed valuable relationships in northwest
Pennsylvania. Our hope is to use our technology and geology to tap
what appears to be significant reserves, as well as increase
production in existing wells."
Skye was contacted in December 2010 by Business Day, a
television program hosted by former Pittsburgh Steelers
quarterback, Terry Bradshaw. The program will feature Skye in an
episode discussing emerging technologies in the energy market. The
program will air twenty (20) times on both national and regional
cable stations, beginning in 2011.
Skye is now expanding its operations in northwest Pennsylvania
by signing leases covering existing wells, as well as purchasing
leases covering potential, new drill sites.
For more information about Skye Petroleum, Inc. please visit
www.skyepetroleum.com and www.otcmarkets.com under the symbol
SKPO.
Contact: Buck Eaton COO Email Contact 713-254-0176
Skye Petroleum (PK) (USOTC:SKPO)
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Skye Petroleum (PK) (USOTC:SKPO)
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