The agreement, once finalized, will provide an ongoing working interest in the wells for Act, if the work-over and reconditioning efforts are successful, and the opportunity to continue the joint venture relationship for additional wells.
Russell Kidder, CEO of Act Clean Technologies, said: “Preliminary indications are that this is an excellent use of our oil sludge fluidizer to enhance recovery of marketable hydrocarbons, further expanding our market, and opening the door to opportunities throughout the oil patch.”
Act Clean Technologies claims that the company and its wholly-owned subsidiary American Petroleum Solutions are committed to both a safer environment through cleaner technologies as well as profitable methods of oil recovery and production from oil sands and other petroleum reserves.
