Marathon will be field testing the ARID Tool and Process to determine the effectiveness in managing the water produced from two of their coalbed methane (CBM) fields in the Powder River Basin of Wyoming. These projects are comprised of seven wells in the central part of the basin and four wells in the northern part of the basin. Big Cat anticipates that the results of these two projects will highlight the value of the ARID system in CBM water management.
With the selection of the projects by Marathon and permit preparation and submission by Big Cat already completed, the two companies are well on their way to putting the ARID system to this test. Permit approvals by DEQ are expected in two to four weeks with project initiation slated for mid-October.
The Termo Company has permitted and installed an ARID tool in the northern part of the Powder River Basin. Preliminary data from this well indicates the ARID Tool and Process are working as planned. This should open the door for additional tool sales to the Termo Company.
Big Cat personnel have been notified that the Wyoming Department of Environmental Quality intends to begin public notification of a rule change regarding water quality sampling requirements during the week of October 22nd 2007. The rule change will allow water quality sampling frequencies to be changed from quarterly to annual and is an important development for companies planning to utilize the ARID Tool technology.
Effective September 30th, 2007, Robert Goodale resigned as principal financial officer, treasurer and secretary of Big Cat Energy Corporation. Mr. Goodale also resigned as the secretary and chief financial officer of Big Cat Energy's subsidiary, Sterling Oil and Gas Company, effective 9/30/07. Mr. Goodale, who has been with the Company since 2006 will be pursuing opportunities outside the Oil and Gas industry.
Effective October 1st, 2007, Big Cat Energy announced Richard Stifel joined the company as the principal financial officer, secretary and treasurer. Mr. Stifel has also become the chief financial officer and secretary of Big Cat Energy's subsidiary, Sterling Oil and Gas Company. Mr. Stifel previously served as the President of RGS Resources LLC, a Denver based provider of interim CFO/Controller and Sarbanes Oxley services to startup and mid sized companies. Mr. Stifel also served as the Market Leader for Denver and Phoenix and as a consultant for The Siegfried Group LLP, a Delaware based provider of professional financial services to Fortune 1000 companies.
On October 2, 2007 the company completed a private place for 500,000 shares of the company's restricted common stock at $1.00 per share to an accredited investor. The proceeds from the placement will be used for operating capital.
Big Cat Energy Corporation has developed a patented technology called the ARID Tool (Aquifer Recharge Injection Device), a revolutionary new method of water handling that provides coal bed methane wells with the ability to redistribute produced water. This revolutionary new coal bed methane production technology will allow coal bed methane operators to process produced water at a fraction of the cost of current technology.
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