Edgeline Holdings announced after the markets closed yesterday that it has formed a new subsidiary, New EnerSource, and has entered into the due diligence phase on its potential acquisition of an enhanced oil recovery technology.
The company stated that the technology is still in the proof of concept phase, but could address part of the unrecoverable oil market after it is fully developed. It has been estimated that the state of Texas has over 100 billion barrels of oil that is known as unrecoverable.
Edgeline Holdings’ current and prospective portfolio consists of early stage companies that require management expertise to further develop their technology. The company is committed to maximizing the value of technologies through licensing arrangements and partnerships that will generate significant returns to the shareholders.
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