Royal Petroleum Developing New Technology for NC-02 Oil Extraction
Royal Petroleum has contracted a Research and Development firm to create new technology for the NC-02 oil extraction process. The developer of this unique technology was introduced and recommended by Royal Petroleum's Technology Consultant. The Company intends to commence field testing with this innovative process within 60 days and expects to have a patent filing in 6 months.
Utilized by major oil companies for several years, NC-02 technology has proved successful by increasing oil production in various types of oil reservoirs by up to 400 percent. The process can typically restore a well back to its original flow rates while potentially dealing with greenhouse gas emissions. Blended with this newly developed technology, it is expected to restore reservoir pressure, increase oil production and lower operating costs. By using nitrogen and carbon dioxide gas injection unites to ``pump up'' and re-pressure oil wells, we are able to significantly increase oil output from these assets with this innovative process.
Royal Petroleum Corp. is focused on crude oil and natural gas. This production is accumulated via two different strategies: acquisition of existing oil and gas wells and bringing them back into production using the latest technologies and drilling of new oil and gas wells where the geology permits. Royal Petroleum Corp. has the enviable position of being one of the lowest cost producers in North America because of our approach.
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- Royal Petroleum Developing New Technology for NC-02 Oil Extraction (Sep 11)