International Western Petroleum Announced Its Initial Study On New Eor Method
International Western Petroleum, Inc. March 26, 2015, Irving, Texas – International Western Petroleum Inc., an exploration-stage oil and natural gas company that focuses on the acquisition, development, and exploration of crude oil and natural gas properties in Texas, is pleased to announce the Company has identified an Enhanced Oil Recovery (EOR) technology candidate that holds a proven technology to improve existing productions. The Company is working toward a potential technology licensing program from this technology candidate.
According to the Company’s further research, specific application of this environmentally friendly and low-cost technology can release trapped oil with zero exploration risks. To date, this technology has been applied to over 300 oil & gas wells on 40 global oil fields resulting with an average production increase of 104% without damaging any wellbores. In diverse environments, this technology can extent economic life of oil & gas properties with significant increase in cash flow and profitability.
“We are looking forward to implementing a technology sampling procedure to be applied to our exploration projects. Upon successful verification among our projects, we will start looking to acquire or create partnerships with low producing properties and apply this technology to enhance their productions,” stated IWP Chairman Dr. Benjamin Tran.
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