Favorable Results to be Presented in September in Anticipation of Long Term Contract
Gun Barrel City, TX, Sept. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Demand Brands, Inc. (OTCPK: DMAN), (“Company” or “DMAN”), announced today that its wholly-owned subsidiary, GEOEnhanced Technologies, Inc. (“GEO”), recently completed a series of tests using its proprietary electro-seismic technology in North and South Dakota on Native tribal lands. The test was conducted at the invitation of the tribal council to demonstrate the effectiveness of the GEO technology for imaging subsurface geology, including porosity.
Adrian Garcia, Vice President of Science and Development for GEOEnhanced, commented, “The tribal council is very interested in knowing what lies below the surface of their land and, in fact, has U.S. federal grant money allocated specifically for that purpose. Foremost on their list is finding new fresh water sources that can be tapped for crops and livestock as the tribe seeks to foster their burgeoning agricultural program. Our seismic imaging team recently spent several days shooting various sections of their land to show the effectiveness of the technology at depths up to 40,000 ft. This week we are returning to present our findings to the council. We have been working over the past months to secure a long-term contract to image all 1,500,000 acres of the tribe’s land. Showing the effectiveness of our technology in a limited test was a critical piece to completing this transaction.”
The company released details of the test indicating that a total of twelve test shots were performed at locations selected by the tribe and covering areas in both North and South Dakota. While not disclosing the results of the tests, Mr. Garcia indicated that he believed the council will be interested to know what lies beneath their land. “Just knowing what is down there is an important first step so that a plan can be developed to capitalize on their natural resources. We’re excited to share these initial results.”
Craig Fischer, company Chief Executive Officer, commented, “GEOEnhanced's forthcoming seismic drone application is ideally suited for this and other projects by avoiding environmental impacts of typical dynamite seismic shots. We are continuing to gain acceptance of our industry leading and proprietary 4-D seismic geologic imaging product in the oil and gas industry.”
GEOenhanced Technologies was founded in 2016 to develop and bring to market a 4D seismic imaging system for oil, gas, mineral and water exploration. The proprietary technology conducts subsurface analysis in order to locate, identify, and quantify liquid and gaseous hydrocarbons, water, and other minerals. The electro-seismic process can eliminate “dry hole” and other exploratory costs in both the energy industry and mineral exploration. Unlike other seismic imaging devices, GEO’s system works without drilling any holes and also gives a reading on porosity at depths up to 40,000 feet. In the case of subsurface liquids, the system is able to show not only the size, depth and composition of the material, but also the direction of flow. This information greatly reduces drilling and operating costs and increases well productivity.
GEO’s business is primarily a service model where they image property for third party exploration companies. Revenues are generated from a combination of flat fees charged per acre plus an override percentage on production that results from using the information provided.
About Geo Enhanced Technologies, Inc.
GEOEnhanced Technologies, Inc. is a South Dakota company headquartered in Gun Barrel City, Texas, and engaged in both oil and gas exploration as well as using a proprietary electro-seismic technology to facilitate subsurface mapping to depths of 40,000 vertical feet. The company is positioned as service provider to the energy and mineral exploration industries where it charges fees plus revenue overrides for employing its technology to create seismic mapping. In addition, GEO is actively acquiring oil and gas production leases which it intends to map using its technology, drill exploratory wells to confirm the mapping, then either resell or further develop and produce the properties. For additional information, see the Company’s website at www.geoenhanced.com.
This press release includes "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. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", “projects” "will", or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
Press Contact:
Craig Fischer
cf@geoenhanced.com
866-385-9248