AM Oil Resources & Technology Inc. is focused on becoming the premier provider of environmentally friendly thermal extraction technologies for the oil field in both domestic and international markets. The company's fully patented technology has been proven to be highly effective in harvesting a greater amount of oil from marginally producing “stripper wells.
The average daily production of the 480,000+ stripper wells existing in the U.S. today is less than 2.1 barrels. Once the production of these wells falls below a profitable level, operators can either shut-in the wells, abandon the wells and cease production, or continue to produce at a loss. However, according to the U.S. Department of Energy, stripper wells have yielded, on average, only 20% of the total amount of oil in the reserve. Unless a secondary oil recovery method is used, the remaining 80% stays in the ground unusable forever.
Through the utilization of the Company's innovative recovery technologies, it is possible to recover over 50% of the oil remaining at increased production efficiencies. The management team believes that applying the company's proprietary technologies to marginal wells, with known reserves, will earn a profitable niche in the U.S. petroleum industry. AM Oil is ideally positioned to profit from rising global demand for oil by providing an environmentally safe and cost-effective method of maximizing oil production from existing wells.
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