Falconridge Oil Technologies Enters Asian Marketplace With Terra Slicing Technology Agreement in Malaysia
(firmenpresse) - RICHMOND HILL, ON -- (Marketwired) -- 11/19/14 -- Falconridge Oil Technologies Corp. (OTCQB: FROT) ("Falconridge" or the "Company") an emerging oil and gas technology company, is pleased to announce a technical service agreement with Terra Upstream Technology SDN ("TERRA") of Malaysia for representation and deployment of the Company''s Terra Slicing well enhancement and oil recovery technology.
Under this agreement, Falconridge will grant exclusive marketing and representation of Terra Slicing Technology™ ("TST™") within TERRA''s licensed territory to include the target region of Malaysia, as well as a major oil company with holdings internationally. Under the same agreement, TERRA will target major oil and gas companies within the region with specific focus on deployment of a 600 well project with within a 24 month period.
Mark Pellicane, President of Falconridge, stated, "We are pleased to be working with TERRA on this initiative and are looking forward to working closely together for the development and marketing of Terra Slicing throughout the region."
Dinla Taiwo, CIO of TERRA, added, "We had identified Falconridge as meeting a critical need in the market. We see Terra Slicing as a necessary service within the region and the future large scale deployment of TST very promising."
Falconridge expects to work closely with Terra executives and sales personnel to present TST to their major accounts and will be establishing a timeline for test wells within the area. Based on discussions between the parties and potential demand estimates, Falconridge and TERRA have a target goal of full scale deployment on an initial 600 well project within a 24 month period.
Terra Slicing Technology™ ("TST™") utilizes patented oil and gas completion technology to increase the production of under-performing oil and gas assets through precision excavation and cutting of damaged productive hydrocarbon zones, increasing permeability, creating previously non-existent vertical permeability, increasing the overall drainage area of the well, and avoiding further damage caused by explosive charge perforation.
To learn more about Terra Slicing Technology ("TST"), watch this video at .
Falconridge Oil Technologies Corp. (OTCQB: FROT) is an emerging Canadian based oil and gas company focused on licencing, developing, and deploying cutting-edge technologies to enable operators to economically increase production levels, expand known oil and gas reserves, and reduce environmental impact. Falconridge''s licenced and patented third-generation Terra Slicing Technology™ ("TST™") is the best option as an alternative to traditional fracturing / fracking on existing low producing wells throughout Canada and the USA.
For additional information, visit the Company''s website at .
This press release contains "forward-looking statements." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future and, specifically, references to TST and its capabilities. The reader can identify these forward-looking statements by forward-looking words such as "may," "will," "expect," "potential," "anticipate," "forecast," "believe," "estimate," "project," "plan," "continue" or similar words. The reader should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. Forward-looking statements include, but are not limited to, that TST is positioned to become a leading alternative and improvement to traditional fracking techniques and well stimulation for most low-volume under-performing oil and gas wells, and that TST will continue to be able to increase permeability. The risk factors listed in our disclosure documents and the cautionary language on the Company''s website provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by the Company in its forward-looking statements. Actual results relating to, among other things, the characteristics and capabilities of TST, could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: level of exploration and drilling activities, ability to secure operations staff and equipment; changes in the operating costs; changes in economic conditions, foreign exchange and other financial markets; changes of the interest rates on borrowings; in the investments levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and operational difficulties encountered in connection with the Company''s development activities; and labor relation matters and costs. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by the Company from time to time with the Securities and Exchange Commission and other regulatory authorities. "Terra Slicing Technology" and "TST" are trademarks of Falconridge Oil Technologies Inc.
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Datum: 19.11.2014 - 05:20 Uhr
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News-ID 1319637
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