PetroTech Oil and Gas, Inc. have been successful in the first well number 11 in free flowing oil.

"Pre testing of the chemical intended to treat the well, resulted in free flowing oil from the annulus, and production from the oil zone into the test tank beside the wellbore" Said Eddie Schilb President, PetroTech, he went on to add "We are excited about the results from the work effort. The primary free flowing IP test indicated pretreatment production of 5 to 10 barrels of oil per day, and when sustained at that rate production gross revenue per month could exceed $20,000.00.

"We hope that after major treatment is completed with our own technology that we will significantly increase that amount," said Ayo Odetunmibi engineer for Petrotech. He added that 70% of the wells located on these leases could be productive wells, producing up to 5 barrels of oil per day averages but with the proper treatments, work over and recomplete procedures; this could yield 350 or more barrels per day, and it seems we are on the right track so far.

Tags: PetroTech Oil and Gas Inc.