21st Century Energy Solutions Announces New Customer for Its Proprietary Enhanced Oil Recovery System
PCT LTD (PCTL) has announced a new customer within its Enhanced Oil Recovery (EOR) program located in Murray County, OK, utilizing its 'Super-Catholyte' technology. The initial treatment of the well was completed by Maverick Energy Solutions. Wells in this region typically produce five barrels per day with minimal water. Further results will be disclosed after the current planned shut-in period. PCTL focuses on eco-friendly technologies and aims to commercialize various innovative products through its subsidiaries.
- New customer acquisition in EOR program.
- Utilization of proprietary technology 'Super-Catholyte' for enhanced oil recovery.
- Current well is shut-in, delaying production results.
Customer Located in Murray County, OK
LITTLE RIVER, SC, Dec. 08, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – PCT LTD (“PCTL” OTC Pink): 21st Century Energy Solutions Inc., a subsidiary of PCTL, announces a new customer in our Enhanced Oil Recovery (EOR) program. The project is in the Oil Creek formation, Murray County, OK.
Initial treatment of the well was performed by our partner, Maverick Energy Solutions, Holdenville, OK, using 21st Century Energy Solutions’ priority ECA “Super-Catholyte”.
The well is currently shut-in for a few days, as planned.
Our customer’s wells in the Oil Creek Formation typically have an initial production of five barrels per day with little or no water.
We will release additional information soon as the results become available to us.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, eco-friendly disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiaries, Paradigm Convergence Technologies Corporation, 21st Century Healthcare, Inc. and 21st Century Energy, Inc.
Forward-Looking Statements:
This press release contains "forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; benefits arising from the transfer of assets into the two subsidiaries; the ability of the subsidiaries to attract investment and strategic alliance opportunities; and any other effects resulting from the information disclosed above. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts
Investor Relations Contact
Tim Rieu
410-825-3930
Or
ir@pctl.com
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FAQ
What recent announcement did PCT LTD (PCTL) make regarding its EOR program?
What technology is being used in the new oil project by PCTL?
What is the initial production capacity of the wells in the Oil Creek formation?
How does the shut-in period affect PCTL's oil production?
