New Seismoelectric Technology Accurately Locates Oil Bearing Zone in Texas
LAKEWOOD, Wash., May 13, 2014
The PL14 seismoelectric technology has been used by a Texas geophysicist to successfully detect oil reserves over the week of May 4, 2014. Mike G. geophysicist states, "They hit it! In fact, they think they may be in several good producing zones. I've seen enough to convince me there is something to this [PL14] technology in finding oil and gas. We are moving forward to purchase tomorrow. What is your time of delivery?"
"Until now there hasn't been any technology available that could directly detect resistive liquid such as oil." – Ervin Kraemer, PL14 Manufacturer.
In addition to imaging mobile resistive liquids (oil, gas, and fresh water) the PL14 seismoelectric technology can detect those liquids at depths of greater than 2,000 meters and has been able to even detect very small volumes of important liquids like oil. Ervin Kraemer of PetroLocate recently used the PL14 to detect a 1450m deep oil reserve, which only produces six barrels of oil a day on known producing oil wells. The confirmation of a PL14 Test with a subsequent successful drilling after the PL14 data collected confirms the technology's ability to see oil beneath the ground before the oil well has been drilled. The Seismoelectric units manufactured by Ervin Kraemer of PetroLocate have currently been used to image geothermal zones, as well as oil, successfully. Patent pending (Ser. No.: 2014111207), Ervin Kraemer also manufactures the Aqualocate GF6 Seismoelectric Technology which is used for groundwater location, detecting an aquifer depth, yield and thickness before the water well is drilled. Mr. Kraemer has been the sole manufacturer of this technology since 2003.
Black Ridge Mining (ASX:BRD) has entered into an exclusive agreement to acquire and operate oil and gas exploration equipment using Seismoelectric technology.
The newly developed Seismoelectric technology is designed specifically for detecting resistive liquids to a depth of up to 3,000 metres.
It identifies whether or not it’s even reasonable to drill oil and gas targets and does so at substantial cost savings to traditional seismic survey exploration methods.
Black Ridge’s wholly owned subsidiary company, Oil & Gas SE Pty Ltd has the right to use the technology in Australia, Indonesia, Thailand, Malaysia, Myanmar and Cambodia.
(copy/paste from announcement 14/10/2015)
Ervin Kraemer will be performing on site Seismoelectric demonstrations, with keen interest being shown by a number of oil and gas companies, to have tests done on their permits in the Perth basin. Upon completion of these tests, indications from these companies are that contracts will be entered into, which will consist of a service fee for Seismoelectric work done and a success fee/profit share/royalty, based on successful results. Black Ridge will also be hosting a seminar on the Technology, with Ervin Kraemer as main platform speaker. This seminar to be aimed at the oil and gas industry, selected Stock Brokers and members of the press.
(Copy/paste from announcement 28/10/2015)
SEISMOELECTRIC UPDATE Black Ridge Mining NL is pleased to confirm that Mr Ervin Kraemer, the designer of the Seismoelectric PL14 technology, will be in Perth from 15 November to 22 November inclusive to conduct theoretical and field training with BRD technical personnel. During the visit, field trials of the technology will be undertaken on acreage in the Perth Basin where Empire Oil & Gas NL (EOG) owns a 100% working interest. BRD acknowledges the foresight shown by EOG in being the first company in Australia to pioneer the trials of the technology. Use of the technology is rapidly gaining momentum in the US, with a growing number of successful results defining hydrocarbon accumulations. On Friday 20 November Mr Kraemer will be presenting to the oil and gas industry on the revolutionary Seismoelectric technology and discussing the successes achieved in the US to date using the PL14 tool.
(NB …stock code for Empire Oil and Gas is EGO I think a typo in announcement DYOR)
I am most excited for this presentation today
Presenting to stockbrokers, O&G companies, members of the press, 20th Nov, of successes already achieved in the USA...
I'm glad EGO is having the free trials as the exposure with over 10 billion shares, will be great marketing.
Contracts may be entered into, which will consist of a service fee for Seismoelectric work done and a fee/profit share/royalty, based on successful results.
I would guess that O&G companies wanting to try the new PL14 technology, would come under the Research & Development
This $1 456 203 company, with directors holding approx 42% of the company
* have the technology built
* have had successful results
* Can only grow and sign deals from here
If I compared the market cap of this company with an asx 'shell/aquisition' with speculative earnings/value.
This company may be receiving revenue from the first and all subsequent services,
plus BRD will have the first option, to profit share/ royalties from which BRD chooses as viable.
From my little research of O&G companies, (please assist with these figures) it appears there is a 15% -20% success rate in O&G companies, costs are approx $400,000 for 1000m drill?
I see that their are approx 280 wells in the Canning Basin, approx 300 wells in the Perth Basin,and there is the Cooper, Amadeus, Georgina, Drummond, Surat, Darling, Eromanga, Bowen, Otway, Gippsland etc
I wonder how many were unsuccessful and how much drilling would have cost?
This could be worth squillions... IMHO....time will tell
SRN Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held
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