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Timeless Capital Corp V.TLC


Primary Symbol: V.TLC.P

Timeless Capital Corp. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and once identified and evaluated, to negotiate an acquisition or participation subject to acceptance by the exchange to complete a qualifying transaction. The Company does not own any assets, other than cash or cash equivalents.


TSXV:TLC.P - Post by User

Post by satongcollectoron Sep 19, 2011 3:29am
321 Views
Post# 19056368

Enhanced Oil Recovery technology

Enhanced Oil Recovery technology
source;

https://www.albertaoilmagazine.com/2011/09/enhanced-oil-recovery-it%E2%80%99s-happening-all-over-the-world/

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Enhanced Oil Recovery (EOR) projects are increasing dramatically all over the world. Also known as “tertiary recovery”, this is the next stage in oil production past primary and secondary recovery and involves multiple sophisticated processes that employ pressure, temperature and/or chemicals to release 70-90 per cent more oil than typical extraction methods.

My favorite story of enhanced oil recovery is the history of the Joffre Viking pool in Alberta. This large pool had been producing since the late 1950s. But by 1980, after delivering over 15 million barrels of oil, production had declined to less than 20 barrels of oil per day. The Joffre pool was thought to be “done” and abandoned. Then a group of engineers had an unusual idea. They formed Vikor Resources Ltd., acquired the rights to the dead pool, redeveloped a number of wells by putting well heads back on and then connecting some of these wells to a Nova ethylene plant about half a mile away. This plant produced carbon dioxide (C02) as a waste product. The CO2 was injected into the reservoir, and by reducing the viscosity of the oil, acted as a scrubbing agent on the remaining trapped oil.

Within six months significant new oil began to flow. Vikor continued to expand the number of wells involved over the next decade, until by 1993, the pool was at 800 barrels a day. This project encountered a lot of challenges over the years, not the least of which was the price collapses of 1986, 1992 and 1998, but Vikor persevered. Today, after 25 years, this pool is still producing about 400 barrels of oil per day and is well on the way to producing over seven million barrels of oil, which would have been left in the ground.

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