Current Report Filing (8-k)
February 03 2016 - 5:24PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported):
February
2, 2016
INTEGRATED
ENVIRONMENTAL TECHNOLOGIES, LTD.
(Exact
name of registrant as specified in charter)
Nevada |
|
000-26309 |
|
98-0200471 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
4235
Commerce Street, Little River, South Carolina |
|
29566 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (843) 390-2500
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
[ ] |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
[ ] |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
[ ] |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
[ ] |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section
8 – Other Events
Item
8.01 . Other Events.
On
February 2, 2016, Integrated Environmental Technologies, Ltd. (the “Company”) issued a press release announcing that
it had developed a new proprietary well treatment protocol, utilizing the Company’s proprietary Excelyte®
and Catholyte Zero™ solutions, which increases oil production and substantially reduces hydrogen sulfide,
iron sulfide scales, bacteria and bacterial deposits present in oil wells.
A
copy of the press release is attached hereto as Exhibit 99.1.
Section
9 – Financial Statements and Exhibits
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits:
|
Exhibit
No. |
|
Description |
|
|
|
|
|
99.1 |
|
Press
Release Re: Integrated Environmental Technologies, Ltd. Announces New Proprietary Treatment Protocol the Significantly Increase
Production in Oil Wells |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
|
INTEGRATED
ENVIRONMENTAL |
|
TECHNOLOGIES,
LTD. |
|
|
|
February
3, 2016 |
By: |
/s/
David R. LaVance |
|
|
David
R. LaVance |
|
|
President
and Chief Executive Officer |
EXHIBIT
INDEX
Exhibit
No. |
|
Description |
|
|
|
99.1 |
|
Press
Release Re: Integrated Environmental Technologies, Ltd. Announces New Proprietary Treatment Protocol the Significantly Increase
Production in Oil Wells. |
EXHIBIT
99.1
INTEGRATED
ENVIRONMENTAL TECHNOLOGIES, LTD. ANNOUNCES NEW PROPRIETARY TREATMENT PROTOCOL THAT SIGNIFICANTLY INCREASES PRODUCTION IN OIL WELLS
Initial
Testing Shows Significant Increase in Production for Stripper Wells While Reducing Hydrogen Sulfide, Iron Sulfide Scales and Bacterial
Deposits
LITTLE
RIVER, S.C., February 2, 2016 – Integrated Environmental Technologies, Ltd. (OTCQB: IEVM) today announced that it has developed
a new proprietary well treatment protocol that increases oil production and substantially reduces hydrogen sulfide (HsS),
iron sulfide scales (FeS), bacteria and bacterial deposits present in oil wells. The protocol consists of a dual treatment regimen
that utilizes the Company’s proprietary Excelyte® and Catholyte Zero™ solutions.
Initial tests were performed in the West Texas Region of the Permian Basin on five stripper wells, which are typically defined
as oil wells producing ten barrels of oil per day or less. The results showed that this new proprietary dual treatment substantially
reduced hydrogen sulfide and bacteria and their deposits present in the five wells and increased the production volumes of the
wells by approximately 75% after one month of treatment. The Company believes that this new dual treatment provides operators
of stripper wells with an important tool to substantially increase production and profitability of these wells. The additional
revenue that a producer can generate from its wells following our dual treatment protocol is of particular importance in this
current low oil price environment where operators are forced to consider shutting in their wells due to economic considerations.
The Company believes that there are over 400,000 stripper wells in the United States that could benefit from the dual treatment
with approximately 140,000 of these wells in Texas alone. In addition, the Company believes that its novel dual treatment regimen
can be adapted to treat and clean oil and gas pipelines more safely than other chemical treatments. The Company is in the process
of pursuing patent protection on its new dual treatment protocol.
David
R. LaVance, the Company’s President and Chief Executive Officer, commented, “I am extremely pleased by the results
of our proprietary dual treatment protocol on stripper wells. The current price of oil has hit operators of these wells hard.
I believe that our new treatment protocol of Excelyte® and Catholyte Zero™ provides operators
with a powerful one-two punch that can help these producers address current economic conditions by significantly increasing well
productivity and efficiency. The number of stripper wells in Texas alone provides us with a tremendous market opportunity. Going
forward, we will continue to refine this new protocol and will expand testing to wells producing higher volumes of oil.”
Hydrogen
sulfide is a toxic and corrosive chemical that frequently appears in oil and gas production. Excelyte® acts
as a biocide and as a hydrogen sulfide eliminator/scavenger that kills sulfate-reducing bacteria, which are known to produce hydrogen
sulfide. The Company’s current down-hole well maintenance treatments consist of regularly scheduled Excelyte®
treatments on oil production wells that contain bacteria which can corrode well equipment and well linings; contain bacteria
that can sour the oil produced; and/or test positive for hydrogen sulfide. Excelyte® well maintenance treatments
are attractive to oil and gas producers because Excelyte® is both an effective biocide and a hydrogen sulfide
scavenger that has been shown to reduce well maintenance costs and improve safety.
About
Integrated Environmental Technologies, Ltd.
Integrated
Environmental Technologies, Ltd. is a publicly-traded company that operates through its wholly-owned operating subsidiary,
I.E.T., Inc. All of the Company’s products and services are marketed and sold under the umbrella brand name, EcoTreatments™.
The Company markets and sells its anolyte disinfecting solution under the Excelyte® brand name, which is
produced by the Company’s proprietary EcaFlo® equipment that utilizes an electrolytic process known
as electrochemical activation to reliably produce environmentally responsible solutions for cleaning, sanitizing and disinfecting.
Excelyte® solutions are EPA-registered, hard-surface disinfectants and sanitizers approved for hospital-level
use and are also approved for use as a biocide in oil and gas drilling. The products can be used anywhere there is a need to control
bacteria and viruses. The Company’s EcaFlo® equipment also produces a cleaning solution that the Company
markets under the Catholyte Zero™ brand name. Catholyte Zero™ solutions are environmentally
friendly cleansers and degreasers for oil and gas, janitorial, sanitation and food processing uses. To learn more, visit www.ecotreatments.com.
Forward-Looking
Statements
Statements
about the company’s future expectations and all other statements in this press release other than historical facts are forward-looking
statements. Such statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially
from expected results. Among these risks, trends and uncertainties are economic conditions both generally and within the industries
in which the Company may participate; competition within the Company’s chosen industries, including competition from much
larger competitors; technological advances; available capital; regulatory approval; and failure by the Company to successfully
develop or acquire products and form new business relationships. Since these statements involve risks and uncertainties and are
subject to change at any time, the Company’s actual results could differ materially from expected results.
Contact:
Integrated
Environmental Technologies, Ltd.
Thomas
S. Gifford
732-820-1415
tgifford@ietltd.net