SANTA CLARITA, CALIFORNIA December 8, 2014 (PRNewswire) - US ENERGY INITIATIVES CORPORATION, INC. (OTC Pink: USEI) is pleased to announce today that the Directors...
Oil Company Overview
AM Oil Resources & Technology Inc is a wholly owned subsidiary of U.S. Energy Initiatives Corporation (Symbol: USEI-OTC) and the Company was formed for the express purpose of bringing forth a proven business opportunity that is more relevant now, based upon historical high crude oil prices, than when it was introduced into the market in 1996 when prices were at historical lows.
Our plan is to create a Dynamic Oil and Gas Production Company that will utilize our technology to enhance production and produce significant oil revenues from properties acquired, through our relationships. We will acquire and develop new oil properties for enhanced oil production (with heavy or light gravity oil) create partnerships with operators, create strategic alliances for primary and secondary recovery, and partner with farm-ins on properties where our technology may be utilized to improve recovery efforts. Our goal is to become an environmentally responsible oil and gas company; utilizing all methods available to improve oil recovery.
Oil Production and revenue generation is our immediate targeted goal. We believe that we will accomplish this goal throughout 2012 and into perpetuity. Additionally our objective is marketing our technology to all potential customers worldwide.
The Company’s Goal is to utilize our team of professionals with all of their experiences to become an extremely profitable Oil and Gas Production and Technology Company. This elite team will develop and market our technologies to provide solutions to help minimize U.S. dependence on foreign oil.
Our Technology and Manufacturing Efforts are targeted to companies looking to enhance domestic production and reduce our dependence on foreign oil. However; collectively the technologies were designed to address the worldwide need for enhanced recovery. Engineering and Manufacturing will begin in the first quarter of 2013… Including Marketing. Management has formed a team of both past and present engineers to assist in the success of this venture.
History Note: The prior firm United States Crude International sustained itself as a publicly traded oil company for over 10 years with the same business model (acquiring property and enhancing oil production with this technology). This was accomplished with oil prices at historical low values (of $12 to $20.00 per barrel… The Company had months where it produced $50,000 in oil revenue… at those prices); and now with significantly higher crude oil prices Management believes that this opportunity is enormous… if we just repeat that model.
The Company’s goal is to re-introduce, refine, develop and market proven oil recovery technology, and acquire oil properties to utilize technology to produce crude oil.
Management will be seeking to acquire properties for generating revenues, testing and demonstration of the devices and to create strategic partnerships in significantly larger firms to enhance the global reach of these technologies.
Management believes that its unique approach of applying its proprietary technologies to marginal wells, with known reserves, will earn the company a profitable niche in the petroleum industry. Targeting approximately 390,000 producing “stripper” (marginal) wells in the United States, the Company is ideally positioned to ride the tide of rising global demand for oil by providing an environmentally safe and cost-effective method of maximizing oil production from existing wells. Strategically marketing this technology positions the Company to benefit from the U.S. and world demand for oil, resulting in significant growth in both revenues and profits.
Upon final commercialization of the technologies the Company will have over 5 options to consider:
1). To be a manufacturer of oilfield technologies;
2). To become a significant oil producer;
3). To become an oil service company;
4). To become a licensee of technologies worldwide or;
5). Any combination of the aforementioned.
“AM Oil Resources & Technology Inc. previously traded on the OTC: BB under the symbol (AMOR.OB) until 10-1-09, when we terminated our Material Definitive Agreement with Aventerra Exploration a shell company. At the moment of the legal termination, approved by FINRA, AM Oil Resources & Technology Inc. became a private company again”…comments Management