Acquisition of the first technology to increase oil production and to improve operational effectiveness
SCOTTSDALE, Arizona, November 19, 2014 – Boomerang Oil, Inc. (the “Company” or “ Boomerang “) (CSE: BOI) (FSE: 0B9) is pleased to announce that the launch of its new division will enable strategic partnerships to technology partnerships with a focus on the development and marketing of oil, gas and to enable energy-related technologies. The new department is to acquire and deploy its first technology.
The Technology has been developed in order to increase oil production and the operational performance and based on a computer-controlled system for controlling the variable production cycle. The total efficiency of the system is to control the well-pump based on the flow rate of the oil. Allows thus achieved improved pump efficiency the known problem of burning out a pump, which lead to costly production downtime and repair costs or even the complete replacement of a pump.
According to www. freedoniagroup.com/industry-study the US demand for oil and gas infrastructure equipment is reviewed annually by 6.3% by 2016 rising to $ 12.1 billion. It is expected that this new technology could make a good market share.
“I am very pleased to launch our QE4 Tech Division and this improves with our first technology, the downhole pump technology to take shape, said Boomerang’s CEO Dennis Alexander and continued: it is a necessary application has global significance and can make a significant contribution to our industry. I see a successful marriage between size and scalability, a technology that can be rapidly developed and promoted in order to increase oil production while reducing the cost, through the use of operational improvements. “
Boomerang sees the new division unit with a focus on innovative technologies and collaborative Teamwork is the basis for revenue and asset growth and is associated with this first related acquisition.
A condition of the transaction the transfer of technology.
The Company is an oil and gas producer that is focused primarily on the acquisition of oil and gas concessions in the United States of America. The company currently operates in Texas and has published a NI 51-101 compliant reserve estimate. The company’s business model is, with proven reserves to acquire existing oil fields and to reactivate oil fields with potentially high throughput rates.
On behalf of the Board
Dennis Alexander, President & amp; CEO
For more information: Dennis Alexander at firstname.lastname@example.org , or by calling (480) 948-6581
This press release also contains forward-looking statements, that involve risks and uncertainties. The information reflects numerous assumptions about economic success of the industry, general business and economic conditions, the regulatory and legal requirements, to the taxes and other matters, many of which are beyond the control of the company. Similarly, this information will be made on certain future business decisions that are subject to changes. There is no assurance that the projected results will actually occur here. The Actual results may differ materially from the results discussed here in part.
This press release does not constitute an offer to sell or a solicitation of an offer for sale of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act” registered) or other state securities laws and may not be sold in the United States or to US persons, except it takes place a registration under the US Securities Act and applicable state securities laws or there is an exemption from such registration.
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