News Update - PetroTech Oil and Gas, Inc. (OTC: PTOG)
Subsidiary, LP U.S. Management Group, Inc. -
March 13, 2014
PTOG’s Subsidiary LegalizePot.us Cannabis & Hemp
Division: Signs JV to Set Up State of the Art "Green Friendly" Cannabis Retail
Outlets
"The initial retail center will house both medicinal and
recreational cannabis along with specialty eatables"BEDFORD,
TX, - (Marketwired via COMTEX) -- PetroTech Oil and Gas, Inc. (OTC Pink:
PTOG) (the "Company" or "PetroTech)
subsidiary company Legalizepot.us and LP.US Inc., is pleased to announce that
Steven Machat (founder & CEO), and Jae Benjamin (president) of Legalize Pot have
signed a letter of intent with a large Real Estate group in Seattle Washington,
this week to close on a joint venture to open a series of state of the art
"green friendly" cannabis retail outlets in the downtown Seattle area.
"The initial retail center will house both medicinal and recreational cannabis
along with specialty eatables. The space will also house hemp based consumer
products such as clothing, shoes, blankets, towels as well as cosmetics and
creams carrying the Legalize Pot US label and logo. Additional retail spaces for
an organic food store and coffee shop with entertainment venue are also
planned," said Steve Machat president. 
Jae Benjamin, Vice President, will be meeting with his team of Legalize Pot US
growers to inspect, and review growth methodologies, as well as update their
"grow" facilities utilizing the latest innovations in wind and LED lighting
techniques.
Additional information can be found at LP.US Management Group, Inc.'s website at
www.legalizepot.us.
About LP.US Management Group, Inc.
PetroTech's subsidiary, LP.US Management Group, Inc., was founded to enter the
rapidly growing medical and recreational Cannabis and Hemp market with the goal
of establishing business licenses and opportunities around the legal
cultivation, production and distribution of Cannabis and Hemp related products
and services. All decisions made by the management team are subject to legal
compliance and advice of counsel.
DISCLOSURE:
PetroTech and LP.US Management Group, Inc. are planning on executing their
business objectives in accordance with current State and Local Laws and Federal
Enforcement Policies and Priorities as it relates to Cannabis and Hemp.
Potential investors and current shareholders are cautioned that PetroTech and
LP.US Management Group, Inc. will obtain advice of counsel prior to actualizing
any portion of their business plan. This advice, with regard to specific
activities of PetroTech and LP.US Management Group, Inc., State, Federal, or
Local legal action, or changes in Federal Government Policy or State and Local
laws, may adversely affect business operations and shareholder value.
About PetroTech Oil and Gas, Inc.:
PetroTech Oil and Gas, Inc. uses multiple patent technologies for Enhanced Oil
Recovery (EOR), and, in some cases, will use their new pumping system
co-developed by PetroTech. Throughout the United States, there are primary
depleted oil reservoirs representing billions of barrels of oil that lend
themselves to the use and exploitation of Enhanced Oil Recovery and PetroTech
Oil and Gas, Inc.'s proven patented technology. Without EOR technology, these
reservoirs will yield only about 20% of their original oil reserve. Gas
injection EOR is a proven method that has been in use over the last 50 years in
the oil fields of West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma.
Starting in the late 1990s, PetroTech began researching various EOR methods to
find an alternative gas to pure CO2 for EOR. In doing so, the Company discovered
that a N2-CO2 mixture was 2-3 times more efficient than CO2 in the recovery of
stranded oil. PetroTech was introduced to a patented exhaust unit that was more
efficient than regular CO2, with a prototype of that equipment being built for
injection purposes and being further developed for commercial use.
PetroTech has analyzed the different types of oil producing reservoirs in most
of the major geological basins in the United States, and has determined that the
use of our extraction methods will enhance the recovery of stranded oil reserves
in these areas that otherwise may never be produced. The pinnacle reefs, other
reefs in Texas make excellent reservoirs for EOR because they are compact, have
consistent reservoir properties, thick pay columns, and are overlain by an
impermeable cap seal. However, other formations have responded favorably as
well. These reservoirs represent over 300 million barrels of recoverable
stranded oil. PetroTech's patented method and technology has the potential to
have a major impact on the recovery of stranded oil in U.S. basins. This
statement is based, in part, on the fact that there is an unlimited source of
gas, an inexpensive infrastructure to transport the gas, and data that supports
that a mixture of CO2 and N2 is more efficient than CO2, in some trials.
The cost and recovery of a project will be dependent on size of structure and
depth, and will range depending on the type of formation and treatment design.
Company forecasts project it will yield an additional 20% to 40% of oil in
place, in a period of 5 years. Each successful project is estimated to have a
six to twelve month payout.
For more information please go to our website, which can be found at: http://petrotechog.com
Email: contact@petrotechog.com
Toll-Free 888-568-7111
SOURCE: PetroTech Oil and Gas, Inc.
Disclaimer
FN Media Group LLC (FNMG) owns and operates
FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates
electronic information through multiple online media channels. FNMG's intended
purposes are to deliver market updates and news alerts issued from private and
publicly trading companies as well as providing coverage and increased awareness
for companies that issue press to the public via online newswires. FNMG and its
affiliated companies are a news dissemination and financial marketing solutions
provider and are NOT a registered broker/dealer/analyst/adviser, holds no
investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNMG's market updates, news alerts and corporate profiles are NOT a
solicitation or recommendation to buy, sell or hold securities. The material in
this release is intended to be strictly informational and is NEVER to be
construed or interpreted as research material. All readers are strongly urged to
perform research and due diligence on their own and consult a licensed financial
professional before considering any level of investing in stocks. The companies
that are discussed in this release may or may not have approved the statements
made in this release. Information in this release is derived from a variety of
sources that may or may not include the referenced company's publicly
disseminated information. The accuracy or completeness of the information is not
warranted and is only as reliable as the sources from which it was obtained.
While this information is believed to be reliable, such reliability cannot be
guaranteed. FNMG disclaims any and all liability as to the completeness or
accuracy of the information contained and any omissions of material fact in this
release. This release may contain technical inaccuracies or typographical
errors. It is strongly recommended that any purchase or sale decision be
discussed with a financial adviser, or a broker-dealer, or a member of any
financial regulatory bodies. Investment in the securities of the companies
discussed in this release is highly speculative and carries a high degree of
risk. FNMG is not liable for any investment decisions by its readers or
subscribers. Investors are cautioned that they may lose all or a portion of
their investment when investing in stocks. This release is not without bias, and
is considered a conflict of interest if compensation has been received by FNMG
for its dissemination. To comply with Section 17(b) of the Securities Act of
1933, FNMG shall always disclose any compensation it has received, or expects to
receive in the future, for the dissemination of the information found herein on
behalf of one or more of the companies mentioned in this release. For current
services performed FNMG has been compensated one thousand five hundred
dollars for news coverage with regards to PetroTech Oil and Gas, Inc. by a
non-affiliated third party.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and FNMG undertakes no obligation to update such
statements.
|
