Worthington Energy, Inc. (OTCQB: WGAS) ("Worthington" or the "Company"), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, announces that the Company will begin collaborative efforts with American Dynamic Resources, Inc. ("ADR") (collectively, referred to as the "Companies") in utilization of ADR's (patent pending)lift Technologies.
- Heavy Oil Technology. The ADR Levia Oil Recovery Process is an efficient method to recover the heavy oil reserves in southeast Kansas and western Missouri region estimated in the billions of barrels.
- Water Resources. WaterAid has estimated that one in three water pumps in developing countries are not operational at any given time. The CLT-1 is an artificial lift system developed by ADR that is powered by alternative energy for applications in remote locations. The system is economical, energy efficient and durable.
- Renewable Energy Resources. ADR/Worthington has tested wind turbines and solar panels for providing power in remote locations. The company designed, built and tested an alternative energy Power Plant (CLT-1) and a has created designs for a Vertical Access Wind Turbine (VAT) that may reduce maintenance and installation costs in comparison to other wind powered electric generation systems.
- Micro Power Plant. The purpose of a micro renewable energy power plant is to have the capability to generate consistent power anywhere at any time, minimizing the need for carbon based energy. Micro electric generation technologies includes small-scale wind turbines, micro hydro, photovoltaic solar systems, plant microbial fuel cells and ground source heat systems. Power Plant designs are primarily based on of wind and sun availability.
- Protecting the Environment. Reduce the carbon foot print of conventional energy production by replacing production methods that are nearly 100 years old with new environmentally sound technology.
- The ADR Air Lift System (EcoLift) greatly reduces the common leaks and spills caused by traditional oil production methods.
- CLT-1 Renewable Energy powered water pumping system.
The Companies primary focus will be on improving production in existing oil and gas wells by utilizing cutting edge technology enhanced through ADR's research and development. "Over the past 24 months ADR has been incrementally integrating the most advanced energy technology available in order to recover the billions of barrels of heavy oil reserves in Southeast Kansas and Western Missouri. Many of our technological improvements involve the use of existing technologies in more efficient ways," stated ADR President and CEO, Mr. Charles A. Adams. "The application of modern energy technology has dramatically improved the manner in which oil and gas reserves are identified, developed, and produced resulting in tens of billions of dollars in revenues industry wide. Most importantly, there is still the potential for hundreds of billions more."
"We are excited to integrate ADR's technology into other profit centers besides Oil and Gas production," added Worthington Chairman and CEO, Mr. Charles F. Volk.
About Worthington
Worthington is an energy turnaround company whose strategy is to acquire cash flow producing properties with proved and probable reserves, develop the fields by reworking existing wells and drilling new wells. Worthington was founded in 2004 and is based in San Francisco, CA.
Safe Harbor
Certain statements in this press release regarding strategic plans, expectations and objectives for future operations or results are "forward-looking statements" as defined by the Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements, including the risks discussed in the Company's annual report on Form 10-K and the Company's other filings with the Securities and Exchange Commission. Factors that could cause differences include, but are not limited to, history of losses; speculative nature of oil and natural gas exploration, substantial capital requirements and ability to access additional capital; ability to meet the drilling schedule; changes in tax regulations applicable to the oil and natural gas industry; results of acquisitions; relationships with partners and service providers; ability to acquire additional leasehold interests or other oil and natural gas properties; defects in title to the Company's oil and natural gas interests; ability to manage growth in the Company's business; ability to control properties that the Company does not operate; lack of diversification; competition in the oil and natural gas industry; global financial conditions; oil and natural gas realized prices; ability to market and distribute oil and natural gas produced; seasonal weather conditions; government regulation of the oil and natural gas industry, including potential regulations affecting hydraulic fracturing and environmental regulations such as climate change regulations; uninsured or underinsured risks; and material weakness in internal accounting controls. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.
Contact
Surety Financial Group, LLC
410-833-0078
SOURCE: Worthington Energy, Inc.
Associated Documentation:
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