Oil Tech, Inc. SHALE OIL
Oil Tech, INC ...Time is of the Essence/Wall Street Journal
OIL TECH Inc.
OIL TECH INC (www.OilTechInc.com) 801-876-2001 Utah (Scott, 425-785-3235-Seattle)
***DAVID ELTON 509-999-2569 CELL*** .......(509-448-1687)
This is a Utah Corporation which specializes in the cost-effective extraction of oil from the rich deposits of shale rocks in Utah and Wyoming. More coming soon.
(it is estimated to have enough oil in the rocks to supply the world for 200 years)
**NO MORE RELIANCE on the middle east...Very attractive politically !
Call Us Now @ 509-448-1687 or 509-710-2152 (Belinda)
The Answer to Impending Oil Crisis is Right Here in US
March 31, 2005. It is impossible to pick up a paper these days with out reading something about the growing predicament in oil. Exponential growth in demand by emerging countries. Spiraling oil prices. Dwindling domestic reserves. Increasing dependence on foreign oil. All of these factors are threatening the security and economic health of the US. In desperation, we are now going to impinge on the pristine Alaskan wilderness. Ironically, the most abundant source of oil in the entire world is right in our own backyard.
According to the World Energy Council, the world’s largest oil reserves occur in the form of oil shale located in an area covering northeastern Utah, northwestern Colorado, and southern Wyoming. The 5.5 million acre Green River formation has more potential oil than all of the Middle East. This single formation has an estimated 2.6 trillion barrels of recoverable oil. This is enough oil to meet US energy demands for over 200 years.
So why haven’t these reserves been extracted? In the 70’s and early 80’s oil companies poured R&D into oil shale development. However, the last effort to commercialize oil shale ended in 1985 when world oil prices dropped to around $8 per barrel while production costs were still over $45. During the intervening years most of the major oil companies abandoned shale oil research altogether. What is different this time around?
Several, fundamental factors are very different from the previous boom / bust cycle. First, technology is now available to economically produce oil from shale. Second, OPEC production capacity is near saturation. It would be difficult to radically affect oil prices by over supply. Third, demand from emerging countries continues to prop up prices. No reputable economist believes we will be returning to cheap oil in the foreseeable future.
Oil-Tech Cracks the Code for Economic Production of Oil from Shale
While other oil companies gave up, Oil-Tech has carried on continuous research in oil shale development. After nearly two decades of effort, Oil-Tech has painstakingly addressed all issues that doomed previous production techniques. In 2004, Oil-Tech conducted extensive independent validations of its oil production process. In addition, Department of Energy and Department of Interior experts have privately recognized Oil-Tech as the only near-term technology that is ready for commercialization.
Oil-Tech has perfected its extraction process by constructing a full-scale experimental retort. (See figure) The next step is to build a fully-operational commercial retort and prove out the ability to economically produce oil in scale. Each Oil-Tech retort will cost about $2 million to fabricate and will produce 1000 barrels of oil per day. The cost of producing a barrel of oil with the first retort will be approximately $25 per barrel, it will drop to $16 per barrel with the 2nd retort, and by the time the 7th retort is in operation the cost per barrel is expected to be below $10 per barrel.
Another challenge faced by Oil-Tech has been securing a long term supply of shale. Meetings this week with the DOE and DOI and a meeting next week with Utah’s new governor appear to resolve the shale supply problem (in a very dramatic way). The investment opportunity with Oil-Tech has always been very attractive. Now the timing appears excellent.
Oil-Tech Experimental Retort in Vernal, Utah
While we see Oil-Tech as an extraordinary investment opportunity, we are also mindful of the need to make a positive difference in the world. We envision Oil-Tech’s impact as a tipping point that could induce massive economic and societal change in the US by:
• disrupting OPEC’s energy stranglehold
• reversing the national trade deficit
• helping to protect US security
• creating 10,000s of new US jobs
There is a lot more about this story we would like to tell you. There are executive summaries, DVDs, and extensive business plans available that document all of our claims. We invite you to investigate and join us in creating a vital new industry that will change the world! Please contact us through: www.oiltechinc.com.
***KEEP IN MIND THE FOLLOWING***
Oil-Tech has developed breakthrough technology for economically producing oil from oil shale.
State and Federal officials are actively supporting Oil-Tech to accelerate the procurement of shale and leasing of prime mining sites.
Utah Governor Jon Huntsman will visit the Oil-Tech site in early April.
Oil-Tech has recently been featured in articles by the Wall Street Journal and Deseret News.
Oil-Tech is seeking up to 6 million from private and angel investors to fund the construction and operation of a commercial retort. This will most likely be the last private funding round.
Oil-Tech CEO Jack Savage is coming to the Portland area in mid April to brief interested potential investors on the Oil-Tech story. We invite you to join us and learn about this extraordinary opportunity. Please contact David Elton for more details on time and place.
We envision Oil-Tech’s impact as a tipping point that induces massive economic and societal change in the US by:
• disrupting OPEC’s energy stranglehold
• reversing the national trade deficit
• helping protect US security
• creating 10,000s of new US jobs
Copyright © 2010 Elton Research International, USA/Russia/China/SPAIN. All rights reserved.