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 companyâ€™s fully patented technology has been proven to be highly effective in harvesting a greater amount of oil from marginally producing â€œstripper wells.â€
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 Companyâ€™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 companyâ€™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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