RE: germaninvestorThis is text is from page 23 from
the April Presentation
Our Projects – EOR Technology: Down Hole Heating Device
Through its royalty agreement with Nick Ba iton,
the inventor, Petrostar holds 75% royalty rights to
this patent pending technology.
This specialized equipment consists of
components of a down hole tool (DHT) that has
been designed and engineered to enhance the
recovery of heavy oil. When used in conjunction
with its related system components (control unit,
fire rod, armored cable and connectors) will
produce heat and in turn steam, which will
stimulate the pay zone of an existing or newly
drilled well. The tool (DHT) will have the ability to
carry out this stimulation procedure anywhere in
the vertical and horizontal bore of the well being
treated. The delivery and control of the DHT will
allow for pinpoint accuracy as to where the
steam generation will take place anywhere in the
well, vertical and horizontal.
and this from their website:
newtechnologymagazine
Petrostar owns a 20.5% royalty of the patented VRS, VertizontalRecovery System and a 75% royalty of the patent pending DHT, Down HoleTool. The balance of the royalty rights are held by Vertizontal EnergyResources Inc.
IMO, PEP cancelled the contract for the VRS, but not for the DHT.