More good news:
Thursday February 18, 10:31 am Eastern Time
Company Press Release
SOURCE: Toups Technology Licensing, Inc.
TTL Upgrades BORS Lift: Triples Output From Low-Producing Oil Wells, Cuts Power Costs 99%
Increased Production, Reduced Electrical Costs Save The Day For Small Producers
Major National Marketing Campaign Launched For February
LARGO, Fla., Feb. 18 /PRNewswire/ -- Toups Technology Licensing, Inc. (OTC Bulletin Board: TOUP - news; ''TTL'') reports that its proven BORS Lift(TM) (Balanced Oil Recovery System) technology has been upgraded for more efficient production. Product performance in 1998 field trials and sales installations continue to receive high praise from buyers.
Invented in Oklahoma after nearly two decades of research and design, the BORS Lift system can increase oil production while dramatically reducing electricity costs and eliminating the need for water separation. It is a unique, turn-key device that more economically produces oil from shallow, low-volume ''stripper'' wells (10 barrels per day or less).
By lifting oil rather than pumping, the BORS Lift also eliminates conventional rods, tubing, downhole pumps or pumping units, and related maintenance costs. Standing just 4 ft tall and 8 ft long, it is capable of producing from a maximum fluid level of 2,500 feet.
The installation base of BORS Lift has revealed impressive numbers: An average 387% increase in oil production and a reduction in electrical costs from $3.50 per barrel to just under 3.5 cents. Using the BORS Lift, wells that were expelling 25 barrels or more of salt water every day are now pulling up only oil, saving on salt water disposal fees, and is better for the environment.
Nearly one quarter of all domestically produced oil comes from stripper wells operated by small businesses. Falling oil prices are putting hundreds of these small operators out of business and reducing a significant portion of domestic oil production capability.
At today's prices, which can be less than $8.00 per barrel (vs. $21.00 in 1985), extracting oil using traditional pumps often exceeds the value of the oil removed. With no price relief in sight, the BORS Lift presents an excellent solution to the owners of hundreds of thousands of stripper wells across the nation.
At the current $8.00 per barrel price in Texas, gross margins can increase from $2.10 per barrel to $5.60 per barrel on utility bill savings alone -- making the difference between profit and loss.
''The BORS Lift is working as advertised and to our amazement all three have shown increases in oil production,'' said new BORS Lift customer, Gary Mayfield, a petroleum engineer at Tripledee Oil, Ardmore, Oklahoma.
Mayfield reports that before installing the BORS lift, these wells were producing four barrels per day with 45 barrels per day of water on average. With the installation of the BORS Lift, Tripledee is pulling 13.3 barrels of oil per day with no water at all -- a 335% average increase across their three wells. Electric bills were also reduced by 99%. Tripledee Oil has more than 150 stripper well locations.
Independent oil producer associations from California to Kansas report drops in membership. Some are dramatic. Frank Gorham, president of the Independent Oil Producers of New Mexico reports that his membership has dropped form 300 to 100 in the past four years.
''How long can you call the bank and say, 'I cannot make payments'?'' Gorham said.
The producer's woes affect the rest of the industry, too. ''For every one rig, you probably have 20 businesses that support that well, from chemical businesses to mechanical,'' according to Harry Spannaus, vice president of corporate services for Pioneer Natural Resources in Midland, Texas, the area's largest independent producer.
''All things considered,'' said TTL Executive Vice President, Mark Clancy. ''We have a product that can make the difference between success and failure for the small oil man. The BORS Lift can save a huge amount of our domestic oil production capability that may be otherwise lost forever.''
TTL wants to distinguish itself from other products and technologies that have been pitched to hard-pressed oil producers in the past few years with little actual benefit. TTL has launched a ''Seeing is Believing'' national marketing campaign, where select buyers have the opportunity to realize significant return from the BORS Lift before the first payment is made.
The campaign also includes special, limited-time incentives to oil producers, including free shipping and installation and generous factory rebates.
The BORS Lift sales team believes that meeting an installation target of 300 BORS Lifts in the field before the end of March will create significant ''word of mouth'' advertising and ''run away'' sales.
As a technology licensing company, TTL seeks, authenticates and secures the rights to manufacture and market new advances that can have an impact on one or more of its marketplaces, in the energy, environment, healthcare and natural resource market segments.
The company's technologies include: AquaFuel, an alternative fuel derived from electric carbon arcs in water, that produces no harmful emissions; Balanced Oil Recovery Lift device which increases marginal oil field production; Multi-Purpose Generators which provide electric power cogeneration that automatically parallels with the local utility power grid; The Tunnel Bat, a mechanized, efficient and profitable process of culvert cleaning; and Electromagnetic Tire Recycling that converts scrap tires into marketable products without emissions.
TTL also acquires companies that complement its technologies, with such advantages as manufacturing capability, technical expertise, synergistic product lines, established markets and sales capability in target markets. TTL's wholly owned subsidiaries include: TTL Manufacturing, a fully equipped manufacturing facility; Brounley Engineering & Associates which provides radio frequency power generators for lasers, plasma etching and other applications; and Intersource Healthcare, Inc., which offers design and outfitting services for a full range of medical environments.
For further information on the BORS Lift, visit the company's web site at http//:www.toupstech.com.
Company contacts: Mark Clancy, executive vice president of TTL, (727) 548-0918, fax (727) 549-8138. James Dryer/Geoffrey Plank, investor relations, (561) 655-7575, fax (561) 655-2171, email: jamesdryer@aol.com.
This press release may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Although such statements are based on reliable information and past experience, operating results are affected by a variety of factors, many of which are beyond the control of the Company. The factors include the levels of order which are received and can be shipped in a quarter; whether and when order options are exercised; customer order patterns and seasonability; contract mix and shifting production and delivery schedules; manufacturing capacity and yield; cost of labor, raw materials, supplies and equipment; technological changes; competition and competitive pressures on pricing; economic conditions in the United States and worldwide, as well as other risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Toups Technology Licensing, Inc. |
