University of Wyoming Enhanced Oil Recovery Institute Assisting Nikron Technologies With Identification of Potential Heavy Oil Production
TOPEKA, Kan., Feb. 13, 2012 /PRNewswire/ -- Nikron Technologies, Inc. (OTC Pink: NKRN) has developed cutting edge technology which relates to high temperature steam generators for use in the production of heavy oil.
As much as 60-80% of oil contained in mainland U.S. reservoirs has been left behind because it was too difficult and expensive to extract up until now.
Nikron presents a cost effective solution to oil recovery which eliminates the costs and uncertainties associated with exploration and drilling by targeting these known fields with proven reserves by capturing this "left behind" oil.
The Wyoming University Enhanced Oil Recovery Institute (EORI) has as its mission maximizing economic potential for application of enhanced oil recovery so as to benefit Wyoming oil producers, increase oil production, and, in turn, increase tax revenues for the state.
The EORI was created and is financially supported by the Wyoming State Legislature. The governor appoints and the legislature confirms eight commissioners who serve on the Enhanced Oil Recovery Commission (EORC) to oversee EORI's financial and strategic planning (See www.uwyo.edu/eori).
EORI is dedicated to delivering relevant, topical solutions to producers in Wyoming so that benefits can be realized in a reasonable period of time. The Institute is primarily focused on application of new technology, and supports additional development work necessary to support commercial-scale implementation.
The Institute is working with Nikron in identifying and screening steam flood candidates within the state. To that end, EORI has prepared for the sole use of Nikron an initial reservoir screening report of applicable EOR steam flood candidates in Wyoming.
Max Gaither, Nikron Secretary, stated: "We are delighted to be working with the Institute. The use of their facilities and resources advances our operations manifold. Their abilities of professionalism are appreciated. They enjoy an outstanding reputation within the industry, and their over-all knowledge of the field is of invaluable assistance to us. They provide us with an expertise and depth of knowledge which is priceless."
ABOUT NIKRON TECHNOLOGIES:
Nikron Technologies, Inc. (OTC Pink: NKRN) is a natural resource company with the specific purpose of conducting enhanced oil recovery operations. The Company has developed breakthrough proprietary enhanced oil recovery technology and has an aggressive development vision focused on utilization of this scientific system to extract additional oil from proven, mature oil fields, thus negating the high and risky costs associated with drilling and exploration. The innovative Nikron technology offers a different and exciting approach to oil development which has the potential to be "game changing" and propel the Company to the forefront of the industry. For more information please visit Nikron's website at www.nikrontech.com.
This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.
For more information contact us at:
Nikron Technologies, Inc.
3101 Southwest Shadow Lane
Topeka, KS 66604
Phone (785) 357-1055
Fax (785) 357-1105
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