TOPEKA, Kan., Feb. 15, 2012 /PRNewswire/ -- Nikron
Technologies, Inc. (OTC Pink: NKRN) has an aggressive development
vision focused on the enhanced recovery of heavy oil from small
stripper and abandoned wells 1,500 feet deep and less, thus
avoiding the expense and uncertainty of exploratory drilling.
Management believes that with its revolutionary oil extraction
technology it will dominate this area of the oil production
business. In a nutshell, Nikron has created and engineered a
proprietary thermal process designed for enhanced oil recovery for
an area of the business largely ignored by the rest of the
industry.
Crude oil and its derivatives are largely responsible for the
quality of life we enjoy. Fossil fuels are responsible for running
our cars, heating our homes, operating our factories, shipping our
food and much, much more.
We can all agree that oil is a finite commodity. Consequently,
supplies are dwindling. Yet the demand is growing. Short Term
Energy Outlook says global demand will exceed supplies in 2011
and 2012 because of emerging markets. The U.S. Energy Information
Administration (EIA) forecasts that the world will use 91 million
barrels of oil per day in 2012 - an increase of 1.5 million barrels
per day.
How big is this opportunity? According to the DOE 175 billion
barrels of oil have been produced in the U.S. (excluding the deep
and ultra deep water Gulf of
Mexico). However, from these same fields 400 billion barrels
are "stranded" after traditional primary and secondary oil
recovery. This compares to an estimated 21 billion barrels of
proven reserves - so the opportunities are enormous.
Only about a quarter of the wells drilled in the U.S. are still
producing. And, the American Petroleum Institute places the number
of abandoned U.S. wells at 2.5 million with an estimated 20-30
million globally. The economics provided by this opportunity are
staggering; turning just a fraction of these millions of wells into
producing wells will provide Nikron with hundreds of millions if
not billions in revenues. The potential is unlimited for Nikron
over the long term. This will translate into creating substantial
shareholder value for our stakeholders.
A 1990 Texas study found there are 1.5 million Texas wells, with a million of these abandoned
(and remember that was a study done 20 years ago).
The NETL found that from 1994 to 2003 (only 9 years) about
143,000 U.S. wells were plugged or abandoned - leaving 110 million
barrels of oil in the ground.
Robert Baker, Nikron President,
stated: "Our cutting edge, advanced technology makes enhanced
production from small and abandoned wells a commercial reality. We
will carve a niche in a largely ignored and overlooked segment of
the oil industry with little or not competition. In the same
breath, this segment is enormous. We look forward to being an
innovative industry leader."
ABOUT NIKRON TECHNOLOGIES:
Nikron Technologies, Inc. (OTC Pink: NKRN) is a natural resource
company with the specific purpose of conducting enhanced oil
recovery operations. The Company has developed breakthrough
proprietary enhanced oil recovery technology and has an aggressive
development vision focused on utilization of this scientific system
to extract additional oil from proven, mature oil fields, thus
negating the high and risky costs associated with drilling and
exploration. The innovative Nikron technology offers a different
and exciting approach to oil development which has the potential to
be "game changing" and propel the Company to the forefront of the
industry. For more information please visit Nikron's website at
www.nikrontech.com.
FORWARD-LOOKING DISCLAIMER
This summary contains forward-looking statements within the
meaning of the "safe harbor" provision of the Private Securities
Litigation Reform Act of 1995. These statements address future
events and conditions concerning the Company's business plans. Such
statements are based on management's current expectation and are
subject to a number of factors and uncertainties, such as future
economic conditions and changes in anticipated revenues and costs,
which may cause actual results to differ materially. The Company
expressively disclaims any future obligation or undertaking to
update or revise any forward-looking statements contained herein.
Investors and potential investors should independently investigate
and fully understand all risks before making investment
decisions.
For more information contact us at:
Nikron Technologies,
Inc.
3101 Southwest Shadow Lane
Topeka, KS
66604
Phone (785) 357-1055
Fax (785)
357-1105
info@nikrontech.com
SOURCE Nikron Technologies, Inc.