Customer Located in
Initial treatment of the well was performed by our partner, Maverick Energy Solutions,
The well is currently shut-in for a few days, as planned.
Our customer’s wells in the Oil Creek Formation typically have an initial production of five barrels per day with little or no water.
We will release additional information soon as the results become available to us.
About
Forward-Looking Statements:
This press release contains "forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; benefits arising from the transfer of assets into the two subsidiaries; the ability of the subsidiaries to attract investment and strategic alliance opportunities; and any other effects resulting from the information disclosed above. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the
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Investor Relations Contact
410-825-3930
Or
ir@pctl.com
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Source: Paradigm Convergence Technologies
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