Tuesday March 16, 2:40 pm Eastern Time
Company Press Release
SOURCE: Toups Technology Licensing, Inc.
Toups Technology Licensing, Inc.'s BORS Lift To Be Presented At American Petroleum Institute Meeting In Ardmore, Okla.
Increased Production And Reduced Operating Costs Lower Break Even Points For Stripper Wells By As Much As 2/3
LARGO, Fla., March 16 /PRNewswire/ -- Toups Technology Licensing, Inc. (OTC Bulletin Board: TOUP - news; TTL), a diversified company serving the energy, natural resource, environment and healthcare market segments, with a wide range of products and services, is introducing its BORS Lift(TM) to the Arbuckle division of the American Petroleum Institute on Thursday, March 18 at 7:30 p.m. in Ardmore, Oklahoma.
Interest in the meeting has been so high that a larger venue had to be secured to accommodate the estimated 125 to 150 attendees. TTL's BORS Lift headquarters in Garden City, Kansas has been working hard to add 25 more salespeople in March to handle the inquiries and fuel the momentum.
The BORS Lift is designed to produce oil from shallow, low-volume ''stripper'' wells. With approximately one quarter of all domestically produced oil coming from stripper wells, low prices threaten domestic oil production capability by putting small operators out of business.
The most significant effect of the BORS Lift is to lower the break-even point of pulling a barrel of oil from the ground. Operators of the familiar pump-jacks, which have been an unchanging fixture in oil fields for over 100 years, need to sell their oil at an average of $12.46 per barrel to break even. Accounting for historical operating expenses and production increases for BORS Lifts, the break-even sales price drops to $3.79 after the cost of the new equipment.
Even presuming that no increase in production were to take place, the break-even sale price is still an unprecedented $8.03 per barrel, an improvement that can net an additional $10,000 per year on a five-barrel-per- day well at $14.00 per barrel.
Actual BORS Lift performance on stripper oil wells has been impressive, with an average increase in production of 387% and a reduction in electrical costs from $3.50 per barrel to just under 3.5 cents. Further, wells pumping up 25 barrels or more of salt water daily now pull up nothing but oil while costly ''downhole'' maintenance costs are eliminated.
While the improved productivity and profitability offered by the BORS Lift may be dramatic, it should not be surprising. Technology used to find and treat oil below the ground has leaped forward to the space age with advances that include magnetic resonance imaging (the familiar MRI from the medical field). Technology to pull the oil out of the ground has remained essentially unchanged since the turn of the century. Any use of the technological advances in the past 100 years is bound to improve efficiency and productivity.
As a technology licensing company, TTL seeks, authenticates and secures the rights to manufacture and market new advances that can have an impact in the energy, environment, healthcare and natural resource markets. 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 co-generation; The Tunnel Bat, a mechanized, efficient 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 & Assoc., 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 or James Doulgeris, vice president, marketing, (727) 548-0918, fax (727) 549-8138, e-mail: bors@toupstech.com; James Dryer/Geoffrey Plank, public/investor relations, (561) 655-7575, fax (561) 655-2171, e-mail: GFCComm@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 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. |
