"The CLRS technology is expected to be fully developed and ready for commercialisation by the end of FY09."
this from 2 years ago
"Coretrack Limited is pleased to announce that after three years of meticulous R&D, building of the Core Level Recorder System (?CLRS?) has been completed. The tool completion follows years of dedicated research and development, as well as advanced bench and well testing of crucial tool components. During this period, the well testing was conducted with the assistance of a number of major national and international oil companies both in Australia and abroad. The CLRS constitutes cutting edge technology for the oil and gas exploration sector and it is the only tool available that provides real time core acquisition data to the rig floor. The completed CLRS is currently undergoing final bench, heat and pressure testing. Managing Director, Mr Nanne van ?t Riet said, ?Years of hard work are coming to fruition; I am very pleased that the tool is now complete and we can progress to running the fully integrated system in a well?.
"The Company will now approach oil and gas companies to use this exciting technology in upcoming local or international coring work."
CKK Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
