Updates Regarding Remedial Stimulation Treatments, H2S Remediation and Restructuring
Update
After the initial remedial stimulation treatment of the well, performed by Maverick Energy Solutions,
Based on these current results and the knowledge gained from earlier tests at the
One of these wells will be treated with only “Super-Catholyte.” The second well will be treated with our proprietary ECA “Super-Catholyte” infused with a High Concentration Nanogas Nitrogen Spheres. These treatments are anticipated to be completed by the first week of
Update
Initial treatments in
Update Concerning a Restructuring of 21st
21st Energy is currently a subsidiary of PCTL. The board of PCTL has decided to commence the process to spin-off 21st Energy to become an independent public company. 21st Energy intends to file a registration statement in 2023 with the
Forward-Looking Statements:
This press release contains "forward-looking statements." Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL or 21st Energy to execute its business plan; actual results from the oil well treatments; actual production increases to the wells; and any other effects resulting from the information disclosed above. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the
Contacts
Investor Relations Contact
410-825-3930
or
ir@pctl.com
Follow us:
www.pctl.com
Twitter:
twitter.com/PCTL_
twitter.com/21stEnergy
LinkedIn:
linkedin.com/company/paradigm-convergence-technologies
linkedin.com/company/21st-century-energy
Source: Paradigm Convergence Technologies
2023 GlobeNewswire, Inc., source