Foy-Johnston Redirects Corporate Focus to Capitalize on Enhanced Oil Recovery
15 Março 2010 - 8:07AM
Marketwired
Foy-Johnston Inc. (PINKSHEETS: FOYJ), through its wholly owned
subsidiary Liquid Gold International utilizing the enhanced oil
recovery technology sees enormous opportunities. Below is a brief
summary of this opportunity:
The Liquid Gold Opportunity:
Abandoned wells in the U.S. are estimated to hold 377 Billion
Barrels -- more than double the cumulative production to date.
It is estimated that 2/3 of oil contained in the U.S. reservoirs
is left behind because it was too difficult or too expensive to
extract.
Stripper wells (average production of 2 barrels per day) amount
to 28 - 30% of U.S. production and 4 - 5% of consumption.
Heavy oil has more than double the reserves of conventional
oil.
The dependence on heavy oil production is bound to increase.
The State of California alone contains approximately 80 billion
barrels of original oil in place that could be tapped with a
successful thermal recovery method.
A big motivating factor for U.S. recovery is the need for the
U.S. to lessen its dependence of foreign oil, hence there is a
focus on secondary and enhanced oil recovery technology to extract
oil from mature onshore U.S. fields.
"This opportunity has the potential to exceed everyone's
expectations and we feel goes beyond anything out there in the
marketplace that could provide such exceptional returns to our
shareholders," stated Winay Sangsomborn, President of Foy-Johnston
Inc.
About Foy-Johnston Inc.
Foy-Johnston is a venture capital firm that specializes in
discovering and exploiting new technologies that have enormous
commercial application and explosive revenue potential. The Liquid
Gold International enhanced oil recovery system presents those very
qualities that Foy-Johnston's management team has identified to
meet those criteria. Our website is www.foyj.us
Forward-Looking Statements
Please be advised that statements made herein, other than
historical data, constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those stated or implied by such forward-looking
statements. The potential risks and uncertainties include, among
others, potential volatility in the company's stock price,
increased competition, customer acceptance of new products and
services offered by the company, and uncertainty of future revenue
and profitability and fluctuations in its quarterly operating
results. Please also be advised that the company's stock is not
currently registered with the Securities and Exchange
Commission.
Contact: Investor Relations E-mail: info@foyj.us URL:
http://www.foyj.us
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