Paradigm Convergence Technologies Announces Grassy Creek Testing Justifies Commercial Drilling

Rhea-AI Summary

PCT LTD (OTC Pink: PCTL) reported successful testing of its Super Catholyte® infused with nitrogen nanospheres for heavy oil recovery in Grassy Creek Warner Sandstone Core.

The high concentration catholyte achieved a 25.5% improvement over catholyte alone and a 13.35% improvement over lower concentration versions, with quicker results (54 hours vs. 96 hours).

The company plans to secure financing for drilling at Grassy Creek and continue research in Oklahoma, with executives traveling to various locations to enhance revenue opportunities.

Positive

• Super Catholyte® achieved a 25.5% better oil recovery compared to catholyte alone.
• Testing showed results in a shorter timeframe (54 hours vs. 96 hours), potentially reducing operating costs.
• Commitment to secure financing for drilling programming at Grassy Creek.

Negative

• None.

LITTLE RIVER, S.C.--(BUSINESS WIRE)-- PCT LTD (OTC Pink: PCTL) is excited to announce the Summary of Amott Cell Testing for Validating Heavy Oil Recovery Using High Concentration Catholyte® infused with High and Lower Concentration Nano Gas Nitrogen Spheres in Grassy Creek Warner Sandstone Core.

As hoped, the higher concentration catholyte, referred to as Super Catholyte®, infused with high concentration nitrogen (N@) nanospheres achieved a 25.5% better recovery than the catholyte alone, and a 13.35% better than lower concentration NanogasN2 spheres infused into a high concentration of Super Catholyte®. These results validate that high concentration, Nanogas N2 Sphere infused high concentration catholyte (Super Catholyte®) outperforms Super Catholyte alone, or a lower concentration Nanogas Sphere Infusion in Super Catholyte®.

It was also noted that these differences could be observed in a shorter time frame (i.e., 54 hours as opposed to 96 hours as in past testing). This will allow for shorter treatment shut in times in the field, thus allowing for optimum results to be obtained in a shorter amount of time which helps to reduce overall lease operating costs!

With these affirming results, we have committed to continue to secure financing for the drilling programming at the Grassy Creek formation. Additionally, research, development and testing will continue to move toward its final stages in the Oklahoma formation. Corporate executives will be traveling to Kansas City and other locales in the coming weeks to further the advancement of revenues for this project.

About PCT LTD:

PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.

Forward-Looking Statements:

This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. 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 are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. 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; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005801/en/

Tim Rieu

Chesapeake Group

410.825.3930

IR@para-con.com

www.pctl.com

Twitter: https://mobile.twitter.com/PCTL_

Source: PCT LTD

FAQ

What were the results of PCTL's recent heavy oil recovery tests?

PCTL's tests demonstrated a 25.5% improvement in oil recovery using Super Catholyte® with nitrogen nanospheres.

How does Super Catholyte® perform compared to lower concentration options?

Super Catholyte® performed 13.35% better than lower concentration Nanogas N2 spheres infused into catholyte.

What is the significance of the 54-hour testing period for PCTL?

The 54-hour testing period allows for quicker treatment, potentially reducing overall lease operating costs for PCTL.

What are PCTL's future plans following the testing results?

PCTL plans to secure financing for drilling at Grassy Creek and continue research in Oklahoma.