On Track Technology Solutions Negotiates Joint Venture With CGM
Energy on Two of Their Leases
EAST HANOVER, N.J.,
Nov. 16, 2012 /PRNewswire/
-- Unity Management Group (OTC Pink: UYMG), a business
resource and service company, is pleased to announce its wholly
owned subsidiary, On Track Technology Solutions Inc. (OTT), Has
negotiated the farm out of 2 continuous leases (from Integrated Oil
and Gas of UYMG) with CGM Energy LLC; Greenville Texas.
"The two have combined approximate 28 wellbores on the Martin
Lease (01388 Railroad Commission Number) and the Knott's Lease
(identified by lease number 01759 Railroad Commission); UYMG and
CGM Energy executed an agreement whereby CGM on an industry level
will provide funds, services and management of the leases to start
putting the wells into production. The first phase is to test and
install production and injection systems. CGM has spent several
thousand dollars over the last several days to purchase equipment
and begin process of installing equipment on these systems." Said
Eddie Schilb President of (OTT)
"The parties have been discussing the possibility of well
potentials, as well as what needs to be done to bring the wells
back online. After completion of the first phase, the parties
intend on entering into completion phase of the wells applicable
for completion after testing of specific wellbores. We hope
to achieve 80 BOPD with a successful Nitrogen or CO2 Huff and Puff
or Flood completions." He went on to say. "While the price of oil
varies daily we used $86.08 per
barrel (although most 5 year forecast is $101.07 Per Barrel); upon successful
implementation and good results; 80 BOPD would add approximately
$167,477 per month or $2,009,724 annually. The lease requires the
following: successful well treatment, production flow line, a
separator, injection and production systems."
"Historically, EOR projects have the highest financial
returns in the industry. One company reports their
estimates; amazingly their economic per barrel dollar
cost on these projects at current oil prices is in the range of the
mid-twenties, depending on the specific field and area. Co2 and
Nitrogen is becoming more popular; current success of CO2 gas
floods is becoming visible (80 projects producing approximately
200,000 barrels of oil a day an average of 2,500 Barrels of
oil a day per project)" Said Josh McAlpine COO of On Trac
Technology Solutions Inc.
About CGM Energy LLC;
They are an oil field service company that does work over rigs,
backhoes, plugging and general kinds of oil field service work. CGM
ENERGY LLC 328 Axe Trail Greenville Texas 75402
About Unity Management Group, Inc.
Unity Management Group, Inc. maintains a network of contacts in
the financial community. Our experience facilitates the development
of relationships that may lead to financing, joint ventures and
other opportunities that are so essential in this age of business
and technological relationships.
Unity Management Group, a business resource company, will
continue to provide innovative management services that offer high
value and significant return on investment through its three
subsidiary companies: Unity Capital Acquisitions, Unity
Technologies Inc., and United Business Services Inc.
Unity Technologies Inc. is a complete software solutions company
offering billing, electronic medical records, and electronic health
records for physicians' offices and hospitals. Unity Capital
Acquisitions will focus on building and accelerating growth
oriented companies, with the intent of spinning them out to our
shareholders as separate public companies.
For more information please go to our websites which can be
found at
www.unitymanagementgroup.com / www.mcc-online.com
www.ontracktechnology.net
About On Track Technology Solutions:
On Trac Technologies Solutions Inc. is a service, heavy
Equipment and production company. They develop solutions through
their R&D department and through the services department. They
work with other service companies and are available to preform
services and provide equipment to their company fields after
acquisition, to third party companies for hire and for state and
regulatory agencies projects. On Trac combines existing
technologies for production equipment, EOR equipment, treatments
(chemicals, CO2, Nitrogen and mixtures) and processes to provide
unique solutions and enhancements for service, hydrocarbon
production, and building of structures/infrastructures. On Trac
Technologies Solutions Inc. may identify service and acquire energy
properties with previously discovered known oil and gas reserves
that have not either been fully produced, or fully developed and
defined. They will accomplish this through joint venture, farm
outs, acquisition, third party service fee, or other means. Such as
utilizing new and existing proprietary technologies. Additionally
they will be providing equipment, preform heavy equipment
construction work in multiple industries, providing multiple
services; depending on the need of a project. On Trac believes the
oil gas industry and EOR segment is a rapid booming field; On Trac
expects to generate profit in this field as well in other fields of
operation.
On Track Technology Inc. uses multiple patent technologies for
Enhanced Oil Recovery (EOR) gas treatment. We will use this
patented technology with other proven EOR technology currently used
in the industry. Throughout the United
States there are primary depleted oil reservoirs
representing billions of barrels of oil that lend themselves to the
use and exploitation of Enhanced Oil Recovery and On Track
Technology Inc.'s proven patented technology. Without EOR
technology, these reservoirs will produce only about 20% of their
Original Oil in Place. Gas injection EOR is a proven method that
has been in use over the last 50 years in the oil fields of
West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma.
Certain information discussed in this press release may
constitute forward-looking statements within the Private Securities
Litigation Reform Act of 1995 and the federal securities laws.
Although the Company believes that the expectations reflected in
such forward-looking statements are based upon reasonable
assumptions at the time made, it can give no assurance that its
expectations will be achieved. Readers are cautioned not to place
undue reliance on these forward-looking statements. Forward-looking
statements are inherently subject to unpredictable and
unanticipated risks, trends and uncertainties such as the Company's
inability to accurately forecast its operating results; the
Company's potential inability to achieve profitability or generate
positive cash flow; the availability of financing; and other risks
associated with the Company's business. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Unity Management Group, Inc.
Investor
Relations
888-311-9891
SOURCE Unity Management Group, Inc.