FALCONRIDGE OIL TECHNOLOGIES CORP
RICHMOND HILL, ON--(Marketwired - Oct 22, 2014) - Falconridge Oil Technologies Corp. (
"We are extremely pleased to have the opportunity to fully commercialize the third generation of the Terra Slicing Technology for oil and gas well completion and are ready to employ this exciting technology in the field," commented Mark Pellicane, CEO of Falconridge Oil Technologies Corp. "The many recent improvements made to the technology have positioned TST to become a leading alternative and improvement to traditional fracking techniques and well stimulation for most low-volume under-performing oil and gas wells. The opportunity to become a leader in providing this revolutionary new technology and service to oil and gas operators is truly enormous."
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.
TST is very different from traditional shaped charge perforation because it is an extremely accurate and reliable water jet cutting procedure. There is no explosion, or burning, or scarring, or lamination. TST uses high pressure abrasive slurry to cut the casing, the cement, and deep into the reservoir formation with two vertical windows, each going out 6 to 15 feet, about 1 to 3 inches wide, and as vertically tall as necessary. At this point in the TST procedure, reservoir permeability is increased to 15 to 20 times higher than before.
Terra Slicing Technology may be used in virtually all environments and applications in the oil and gas industry and is the only tool known to work in less than 5% porosity/permeability. TST is applicable on land, or marine environments, in vertical or horizontal formats. These numerous economic, environmental, and safety advantages make Falconridge's Terra Slicing Technology the best option as an alternative to traditional fracturing / fracking.
To learn more about Terra Slicing Technology ("TST"), watch this video at www.falconridgeoil.com/video.php.
Pellicane concluded, "Falconridge's mission is to shift the oil and gas industry and social paradigm away from new drilling and towards increasing the efficiency of current extraction in existing well-bores to increase overall recovery of oil and gas. When widely applied, we believe Terra Slicing can add significant reserves to the energy resources of the United States and the world. I look forward to leading the Company's strategic growth plans and hope to build Falconridge Oil Technologies Corp., Terra Slicing, and TST into some of the most respected names in oil and gas production technology in North America."
For additional information, visit the Company's website at www.falconridgeoil.com.
About Falconridge Oil Technologies Corp. (FROT)
Falconridge Oil Technologies Corp. (
For additional information, visit the Company's website at www.falconridgeoil.com.
Disclaimer
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.
