Proposed Merger with Hydrocarbon Dynamics
Melbourne, Mar 28, 2017 AEST (ABN Newswire) - Indago Energy Ltd (ASX:INK) (POGLY:OTCMKTS) is pleased to provide the Company's latest Corporate Presentation titled "Proposed Merger with Hydrocarbon Dynamics".
Rebuilding Initiatives During 2016
- New board and management
- Sale of projects with no material upside
- Change of name
- Change of capital structure
- Proposed acquisition of Hydrocarbon Dynamics ("HCD")
o HCD owns an exceptional technology used to improve oil flow and recovery rates
o The technology also reduces oil operating, transportation and cleaning costs
o Business has tremendous potential to grow via product sales and oil reserve and production growth
Applications and Benefits
Key product applications and their benefits:
- Ensures successful and economic flow in onshore/offshore pipeline and oil gathering lines that transport heavy or paraffinic crudes
- Increases oil production and recovery rates and thus economics in both onshore and offshore wells in fields producing heavy or paraffinic crudes
- HCD Multi-Flow(TM) reduces the need for costly workovers and chemical or heat treatments to remove paraffin or asphaltene deposition on production tubulars & oil flowlines
- Enables efficient clean-up, oil recovery and water & sediment separation of tank bottom sludge in oil tank batteries offshore/onshore. HCD Tank Clean separates oil, water & sediment without the need for human intervention in tank cleaning
- HCD Multi-Flow(TM) also improves crude quality in all applications by lifting the API Specific Gravity and separating water by breaking water-in-oil emulsions, resulting in a higher price for the crude at the point of sale
Opportunities for Future Applications
The opportunities for future applications of HCD Multi-Flow(TM) are enormous because the technology is directly applicable and beneficial to any area or business involved with the production, handling, storage or transport and refining of waxy or heavy crude oil.
In summary, potential applications include:
- Production in heavy and extra heavy crude oil fields
- Production in paraffinic crude oil fields
- Production in tar sands
- Treating pipelines that transport heavy or paraffinic crude oils
- Treating tanks that store heavy or paraffinic oils
- Treating refinery feedstock by reducing corrosive BS&W levels
To view full presentation, please visit:
About Indago Energy Ltd
Indago Energy Ltd (ASX:INK) (OTCMKTS:POGLY) is an Australian listed company engaged in oil and gas exploration, development and production. Indago's project portfolio includes liquid rich producing assets together with substantial oil development and exploration acreage in the United States.
The Company's Exploration and Production focus is on high growth oil and gas projects offering scalability of production, cash flows and reserves. Indago currently has several producing projects together with a significant acreage position. The Company's immediate focus is the development of its Capitola Oil Project located in an active region of the Cline Shale resource play along the Eastern Shelf of the Permian Basin, Texas. The project's core development and exploitation opportunities are shallower multiple "stacked" sandstones and limestones to depths of 7,000 feet which are effectively produced from vertically drilled wells. Indago's value driven model is executed through exploiting shallower, well defined intervals with advanced completion and stimulation technology within known produced oil fields together with exposure to the emerging Cline Shale resource play.
Indago's shares are publicly traded on the Australian Securities Exchange (ASX ticker: INK) and also as American Depositary Receipts on the OTCQX (ADR ticker: POGLY).