Worthington Energy to Utilize ADR's Levia Thermal Oil Recovery Process
April 08 2014 - 10:15AM
Marketwired
Worthington Energy to Utilize ADR's Levia Thermal Oil Recovery
Process
SAN FRANCISCO, CA--(Marketwired - Apr 8, 2014) - Worthington
Energy, Inc. (OTCQB: WGAS) ("Worthington" or the "Company"), an
energy company engaged in the acquisition, exploration, development
and drilling of oil and natural gas properties, will utilize the
Levia Thermal Oil Recovery Process developed by American
Dynamic Resources, Inc. ("ADR") to target the vast Heavy Oil
deposits in Southeast Kansas and Western Missouri. An estimated 1.6
to 2.4 billion barrels of shallow (100-350 feet) heavy oil have
been identified in Vernon, Barton, Jasper and the western portion
of Dade and Cedar Counties in Western Missouri. Comparable heavy
oil deposits have also been identified in Crawford, Bourbon,
Labette and Neosho Counties in Southeast Kansas.
According to the Kansas Geological Survey, as of 2011 Kansas has
produced nearly 6.4 billion barrels of oil and 39.3 billion mcf of
natural gas. Many industry analysts believe that only a small
portion of the original oil reserves found in Kansas have ever been
recovered. In the 1920s, Kansas was among the top oil producers in
the world and remains 9th in the United States for oil production.
Phillips Petroleum (now ConocoPhillips), Getty Oil and Sinclair
Oil, among others, all had large operations in the state. Over the
years as oil reserves in Kansas became increasingly difficult and
expensive to extract with conventional methods, they moved on to
other areas.
Thermal oil recovery processes used for recovering heavy oil
have traditionally been capital intensive. The equipment,
installation and operating costs often make thermal enhanced heavy
oil recovery uneconomical. ADR has developed a new, more efficient
way to recover the heavy oil and medium gravity oil reserves in
Southeast Kansas and Western Missouri. The Levia Thermal Oil
Recovery Process uses water that is heated to a specific
temperature and then injected into the oil bearing formation to
drive oil to the wellbore.
The Levia Oil Recovery Process combines ADR's EcoLift Artificial
Lift System (Patents Pending #61896838 and #61897237), which
produces oil by utilizing compressed air pumped through a series of
valves resulting in oil jetting to the surface where it can be
stored, with ADR's High Efficiency Thermal Enhancement Process
(Patent Pending #61897233) which utilizes standardized continuous
flow, high-efficiency, natural gas hot water heaters to heat oil
bearing formations.
"The Levia Thermal Oil Recovery Process uses water that is
heated to a specific temperature and then injected into the oil
bearing formation to drive oil to the wellbore. It integrates
specialized pipe, pumps, fluid lifting processes and water heating
capabilities to extract low gravity heavy oil and medium gravity
oil profitably. Lower developmental capital requirements, improved
lifting techniques and reduced lifting costs improve heavy oil
recovery economics in comparison to traditional thermal processes,"
stated ADR President and CEO, Mr. Charles A. Adams.
About Worthington Worthington is an energy turnaround company
whose strategy is to acquire cash flow producing properties with
proved and probable reserves, develop the fields by reworking
existing wells and drilling new wells. Worthington was founded in
2004 and is based in San Francisco, CA.
Safe Harbor Certain statements in this press release regarding
strategic plans, expectations and objectives for future operations
or results are "forward-looking statements" as defined by the
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included in this press release
that address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks
and uncertainties that could cause actual results to differ
materially from the results contemplated by the forward-looking
statements, including the risks discussed in the Company's annual
report on Form 10-K and the Company's other filings with the
Securities and Exchange Commission. Factors that could cause
differences include, but are not limited to, history of losses;
speculative nature of oil and natural gas exploration, substantial
capital requirements and ability to access additional capital;
ability to meet the drilling schedule; changes in tax regulations
applicable to the oil and natural gas industry; results of
acquisitions; relationships with partners and service providers;
ability to acquire additional leasehold interests or other oil and
natural gas properties; defects in title to the Company's oil and
natural gas interests; ability to manage growth in the Company's
business; ability to control properties that the Company does not
operate; lack of diversification; competition in the oil and
natural gas industry; global financial conditions; oil and natural
gas realized prices; ability to market and distribute oil and
natural gas produced; seasonal weather conditions; government
regulation of the oil and natural gas industry, including potential
regulations affecting hydraulic fracturing and environmental
regulations such as climate change regulations; uninsured or
underinsured risks; and material weakness in internal accounting
controls. The forward-looking statements in this press release are
made as of the date of this press release, even if subsequently
made available by the Company on its website or otherwise. The
Company does not undertake any obligation to update the
forward-looking statements as a result of new information, future
events or otherwise.
Contact Surety Financial Group, LLC 410-833-0078