BALTIMORE, MD--(Marketwired - Jun 14, 2013) - Goldman Small Cap Research, a stock market research firm focused on the small cap and microcap sectors, has initiated research coverage of PetroTech Oil and Gas, Inc. (OTC Pink: PTOG), an emerging oil and gas firm specializing in the recovery of oil from depleted reservoirs.
Throughout the U.S. there are primarily depleted oil reservoirs representing billions of barrels of oil that lend themselves to the use and exploitation of Enhanced Oil Recovery and PetroTech's proven patented technology. Without EOR technology, the recovery of stranded oil reserves in many areas would never occur and these reservoirs will produce only about 20% of their Original Oil in Place. Management believes that it can extract as many as 10-15 barrels of oil per day from wells that are treated with its system.
In the Goldman Opportunity Research report on the Company, analyst Rob Goldman outlines his investment thesis.
"In our view, there could potentially be tremendous value in PetroTech's tools that can quite literally unearth oil from depleted reservoirs and we look forward to the results of its 8-well field test, ahead of deployment in an additional 102 wells. Plus, yesterday's news regarding the purchase leases in mineral interests of up to 30,000 acres in North Dakota's Bakken Shale Formation that has Probable and Possible reserves of 116M barrels of oil could result in huge profitability down the road."
To view the report and its disclaimers, or to download the report in its entirety, please visit www.goldmanresearch.com
About Goldman Small Cap Research: Led by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces small cap and micro cap stock research reports, daily stock market blogs, and popular investment newsletters. For more information, visit www.goldmanresearch.com.
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About PetroTech Oil and Gas, Inc.: PetroTech Oil and Gas, Inc. (OTC Pink: PTOG) uses multiple patent technologies for Enhanced Oil Recovery and in some cases will use their new pumping system co developed by PetroTech. We will use this patented technology with other proven technologies currently used in the industry to drill, complete equip new drill wells and older wells with secondary production opportunities. Throughout the United States there are primary depleted oil reservoirs representing billions of barrels of oil that lend themselves to the use and exploitation of Enhanced Oil Recovery and PetroTech Oil and Gas, Inc.'s proven patented technology. Without EOR technology, these reservoirs will produce only about 20% of their Original Oil in Place.
For more information, please visit http://www.petrotechog.com.