PCT LTD Signs Memorandum of Understanding with International Energy Company Providing Cash Infusion and Ongoing Partnership

Rhea-AI Summary

PCT LTD (OTC Pink: PCTL) has signed a Memorandum of Understanding (MOU) with LeadGreen Energy Services Limited to bolster its oil recovery efforts in Missouri. This partnership entails a cash investment for drilling a 7-spot pattern in the Grassy Creek formation, aimed at demonstrating the Enhanced Oil Recovery methods utilizing PCT’s technologies. The company anticipates generating $5-$10 million in revenue from its oil and gas division over the next year as it begins to monetize this initiative, following a long-awaited timeline to start significant revenue streams.

Positive

• Signed MOU with LeadGreen Energy Services to enhance oil recovery.
• Expected revenue of $5-$10 million from oil and gas division in the next 12 months.
• Drilling project in Missouri could lead to large-scale revenue streams.

Negative

• Dependence on successful drilling to generate expected revenues.
• Past delays in monetizing the business might raise investor concerns.

LITTLE RIVER, S.C.--(BUSINESS WIRE)-- PCT LTD (OTC Pink: PCTL). Paradigm Convergence Technologies Corporation, a company focused on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies announced today that it has signed a Memorandum of Understanding (MOU) with LeadGreen Energy Services Limited.

LeadGreen Energy Services Limited, an IADC member company, offers integrated services to the oil and gas industry in Nigeria, an OPEC member country. Services offered include procurement, drilling services, filtration service, consulting and training, and logistical support.

LeadGreen Energy Services Limited will provide a cash investment for the purpose of drilling a 7-spot pattern in the Grassy Creek, Missouri formation to be drilled and operated by Maverick Energy Services. The drilling will provide further demonstration and validation of Enhanced Oil Recovery methods utilizing PCT’s fluids and processes. Upon completion, likely during the next 60 days, the company can begin to finalize previous efforts with multiple energy companies to start initiating the Oil Recovery Process. This will commence large-scale revenue streams for PCT.

As a result of the cash infusion, LeadGreen Energy Services Limited will acquire the rights to utilize, market and distribute PCT’s Enhanced Oil Recovery technology and methodology for use in LeadGreen’s oil recovery projects in other areas of the world should they choose.

“We believe our pipeline for equipment is real and growing. We also believe the Oil & Gas and Agriculture Divisions will contribute significant revenues in the fourth quarter. Our forecasts call for $5-$10 million in revenue for just the Oil and Gas business over the next twelve months. While it has taken a significant amount of time to reach this point, we can now start to monetize this business very rapidly,” commented CEO Gary Greico.

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 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/20220607005988/en/

Investor Relations Contact

Tim Rieu

410-937-9789

or

Ir@pctl.com

www.pctl.com

Twitter: https://twitter.com/PCTL_

LeadGreen Corporate Profile

Source: PCT LTD

FAQ

What is the recent partnership announced by PCT LTD (PCTL)?

PCT LTD signed a Memorandum of Understanding with LeadGreen Energy Services Limited to enhance its oil recovery projects.

What are the expected revenues for PCT LTD from the oil and gas division?

PCT LTD forecasts revenues of $5-$10 million from its oil and gas division over the next twelve months.

Where is PCT LTD's new drilling project located?

The new drilling project is located in the Grassy Creek formation in Missouri.

How will the partnership with LeadGreen benefit PCT LTD?

LeadGreen will invest cash for drilling, allowing PCT to validate its Enhanced Oil Recovery methods and potentially open new revenue streams.

What is the significance of the MOU signed by PCT LTD?

The MOU signifies a strategic partnership for PCT LTD to leverage enhanced oil recovery technologies, potentially increasing market presence and revenue.