Finding the right lease is the name of the game in technology oil recovery. There is plenty of oil left behind as the bigger oil names move on to other fields. The only thing preventing the remaining oil from being extracted is the right technology and the appropriately promising oil lease. Find that oil lease, and profit is ready to flow.
Titan Oil and Gas Inc., an oil and gas rediscovery concern, works to claim oil from previously producing oil wells. The company is gearing up on several well opportunities and indicates that it will be able to capitalize on current oil prices soon.
In recent days, the company has announced that initial testing in the Kern County, California area is positive for oil recovery. The 480-acre lease that the company controls is surrounded by 1,810 currently producing wells that have actually witnessed an increase in capacity from 2006-2007. The company feels that it has a prime piece of oil producing property, as do BP Exploration and Chevron – which are operating in adjacent lease parcels. The latest reports for the area, held by the State of California, indicate a 15.7 Mbbl potential still in the ground.
The company feels that it is ready to begin anew with this property. It has several other potential lease opportunities waiting on further testing from its new geology team, and feels that past issues are resolved. As the price of oil continues its climb, Titan Oil and Gas is ready to take advantage and become a contender in the oil recovery field.
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