Nikron Technologies Targets Heavy Oil Recovery
TOPEKA, Kan., Dec. 8, 2011 /PRNewswire/ — Nikron Technologies, Inc. (OTC Pink: NKRN) is pleased to announce that it is planning an immediate launch of a comprehensive recovery program for heavy oil which will create a solid foundation for exponential growth for the Company with a corresponding increase in shareholder value.
The operations of Nikron center on the recovery of heavy oil. Operators around the world, especially those in the U.S., have long been looking to heavy oil production to prop up the nation’s declining oil output.
Heavy oil is a vast U.S. resource that has been underexploited because of the difficulty of production. The U.S. sits on three percent of the world’s proven oil reserves and accounts for more than a fifth of global consumption.
In the U.S. alone there is a rich resource to be tapped in the form of abandoned wells, which experts estimate could hold as much as 377 billion barrels – more than double the cumulative U.S. production to date. In the U.S., the Department of Energy (DOE) has estimated that full use of “next generation” EOR in the U.S. could generate an additional 240 billion barrels (38 km3) of recoverable oil resources. To put that in prospective, that equates to approximately $20,000,000,000,000 ($20 trillion) in potential revenues just in the U.S. alone. If Nikron carves out just a 1/1000th of a percent business, that is worth more than $200,000,000 annually at today’s prices.
The Nikron Enhanced Oil Recovery System (NEORS) is targeted for deployment in the U.S. as the U.S. is littered with oil fields that have been drilled, had oil extracted, and then been abandoned without the field’s full potential being realized. Experienced oil men see the significant level of potential in shifting their focus away from exploring new fields and towards extracting more oil from fields that had already been drilled.
Most of the current and historical oil production has come from conventional reservoirs, which contain oil that is sufficiently viscous to be pumped utilizing well pressure and non-specialized pumps. Heavy oil is more viscous (thicker, like molasses) than conventional oil so is much more difficult to extract from the ground. Currently, the volume of heavy oil production is only a fraction of the production from conventional oil. However, going forward, it is almost certain that the world’s dependence on heavy oil production will increase due to the massive resource base of heavy oil and projected increased demand from Asia and developing countries.
Injection of steam has historically been the most widely applied EOR (enhanced oil recovery) method for the production of heavy oil. Heat from steam or hot water dramatically reduces the viscosity of oil, making it flow more readily.
Nikron has created and developed a proprietary steam injection thermal recovery technology that renders this method to new heights.
The Company will employ this “super heat” thermal process in its oil production. This breakthrough technology is only now being unveiled after extensive testing. This revolutionary methodology makes the production of heavy hydrocarbons a reality.
The Company will first deploy the technology in the U.S. and has identified several opportunities in the states of Kansas, Missouri, Oklahoma, Colorado, Wyoming, Texas and California that it will target for initial operations.
It has been said: “There are several methods of heavy oil extraction currently, but as the heavy oil industry is still in its beginning stages, there is not a de facto ‘standard’ of heavy oil extraction for the industry – one that is low cost and efficient, that can be applied across most heavy oil deposits. The question that is most relevant for investors is: when will there be a dominant, patented technology for the development of heavy oil reserves? And secondly, if so, which firm will capture and patent this technology?”
Max Gaither, Nikron’s Secretary, said: “We believe the technology answers that question and affords a way for Nikron to create its own success story. Some of the most successful companies are those which have selected and identified a niche within a large market or specific field, and then become the leader in that particular specific. The Company believes it is uniquely positioned to become a preeminent operator in its industry. In the world of business, initial discoveries have led to the birth of empires and unprecedented wealth for those entrepreneurs and investors who got in first. Now we’re presented with the same kind of unique opportunity. We intend to take full advantage of it.”
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 machinery (vehicle) 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.
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
SOURCE Nikron Technologies, Inc.