PCT LTD Updates Grassy Creek O&G JV

Rhea-AI Summary

PCT LTD (PCTL) has formed a joint venture with Maverick Energy Services to test and monetize innovative enhanced oil recovery technology. Named Disruptive Oil & Gas Technologies Corp, the JV plans to drill wells in the Grassy Creek field, with Maverick providing drilling services and PCTL supplying their proprietary fluids. This technology aims to significantly improve oil recovery while cutting costs. The venture is independently funded through a Regulation D offering. PCTL will also collect data to market its services to fossil fuel operators.

Positive

• Formation of a joint venture with Maverick Energy Services for enhanced oil recovery.
• Proprietary technology expected to significantly increase oil recovery and reduce costs.
• Independent funding through a Regulation D offering will support the drilling operations.

Negative

• None.

PCT LTD (“PCTL” OTC Pink) is excited to report they have formed a JV with Maverick Energy Services ( https://www.okmaverick.com/services ) for the purpose of testing and monetizing proprietary and patentable technology in the area of enhanced oil recovery. The JV will be known as Disruptive Oil & Gas Technologies Corp.

The plan calls for the JV to drill a series of infield wells in the Grassy Creek field of which Maverick and PCTL will be participating on a royalty basis. Maverick will be providing all the drilling services and PCTL will be selling their fluids to the JV which will be independently funded through a Reg D offering. These wells will be treated with a proprietary process using nano technology ( https://www.nanogastechnologies.com/ ).

“We are very excited to infuse catholyte with the ‘Nanobubbles’ and expect a very substantial increase in oil recovery as well as significant savings in downhole treatments,” stated David Holcomb, PhD, Pentagon Technical Services. “This patentable process could be a real gamechanger in the oil patch.”

Doug Humphries added, “This technology has the potential to reduce costs, prolong the life of the well and shake up the multi-billion dollar oil industry.”

PCTL will continue to test, validate and hone this process, building a database of results so they can market and sell their services to the thousands of landowners and operators that provide the fossil fuels to heat and cool our homes and power our vehicles.

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.

www.para-con.com
www.pctcorphealth.com
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005380/en/

FAQ

What is the purpose of PCT LTD's joint venture with Maverick Energy Services?

The joint venture aims to test and monetize proprietary enhanced oil recovery technology.

What is the name of the joint venture formed by PCT LTD?

The joint venture is named Disruptive Oil & Gas Technologies Corp.

How will the joint venture between PCT LTD and Maverick Energy Services operate?

Maverick will provide drilling services while PCTL will supply proprietary fluids, operating on a royalty basis.

What technology will PCT LTD's joint venture utilize?

The joint venture will utilize a proprietary process involving nanotechnology for oil recovery.

How will the joint venture be funded?

The joint venture will be independently funded through a Regulation D offering.