LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (OTC Pink: PCTL). After months of lab and then infield testing and characterizing results from systematic modifications and combinations of fluids, temperatures, and concentration levels, (parts per million) a stimulation procedure and protocol was established, and four wells were selected for a 14-day test.
First, a baseline of production was established by pumping the unstimulated wells for 7-days yielding a non-economically viable average production of 1% oil. For the next 14-days, the wells were stimulated by injecting our protocol of fluids.
Day one of the test the oil cut was 1% oil, 99% water. We then began our stimulation protocols and the wells were pumped in to a 100-barrel test tank. During the fourteen days the daily cuts were recorded and ranged from 6% oil to 22% oil with an average oil cut of 14.5%, an increase of 1440%.
To put these results into perspective: A) 1% oil cut would equal one barrel oil, ninety-nine barrels water with a value of $60/barrel after gravity reduction. B) With an average oil cut of 14.5%, the wells produced 14.4 barrels of oil and 85.6 barrels of water per 100 barrels of production. At $60/barrel, this equates to $864.00. This result is economically viable.
In the early January 2022, we will be conducting a new 14-day test using PCT’s newly developed Catholyte generator. This generator produces our proprietary catholyte at an increase of 300% in parts per million (ppm) and a 500% increase in volume of catholyte produced.
We anticipate an increase in oil cut and expect to see much greater results than we had in the December 6, 2021, testing.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. 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 are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. 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; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. 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 SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
