COSTA MESA, Calif., Nov. 4, 2010 (GLOBE NEWSWIRE) -- Force Fuels Inc. (OTCBB:FOFU) announces the start of Phase 2 of the well rehabilitation project aimed at increasing oil production of its Kansas properties.
"Phase 1 involved determining the state of our existing wells and placing them back into service to verify our production assumptions as well as geological data. Phase 2 is all about ramping up daily production," said Oscar Luppi, CEO of Force Fuels Inc.
Last week, the company initiated Phase 2 of its plan which involves treating the working wells with specialized chemicals designed to restore the underground formations around the well to their initial state. Three wells have been selected to begin Phase 2 rehabilitation and are currently being treated. Once the treatment is completed on the wells, the company will have solid oil production data, which is necessary for financial projections as well as additional well performance information needed to fine tune the chemical composition of the cleaning agents.
"Initial tests conducted last quarter confirmed the viability of the existing oil wells and confirmed the potential untapped oil reserves which could be developed on the properties. Several wells were placed back into production with little effort and expense. We expect this Phase 2 testing to yield a substantial amount of information about the properties," stated Oscar Luppi, CEO of Force Fuels Inc.
Acid treatment is an established technique for removing contaminants from the bottom of existing wells and restoring the structural composition of the earth around them. The procedure involves the disassembly of pumping equipment and the introduction, under pressure, of specialized chemical custom mixed to properly interact with the local geological composition.
About Force Fuels, Inc.
Force Fuels, Inc.'s primary products are regulated and standardized energy based products, which do not require a massive marketing or sales force, thus eliminating the related expenses. These energy based products include oil, natural gas, solar and wind. In the oil and gas field the company plans to focus on the purchase of marginally producing shallow oil wells which can be optimized with existing technologies; the purchase of leases with potential for additional drilling in proven producing areas and the acquisition of in-house know-how to further optimize production through stimulation, refurbishing and site optimization.
More information can be obtained contacting the company at info@forcefuels.com
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, adverse economic conditions, intense competition, lack of meaningful research results, inadequate capital, termination of contacts or agreements, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products or programs and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.