February 24, 2013 22:31 ET
CALGARY, ALBERTA--(Marketwire - Feb. 24, 2013) - Kilimanjaro Capital Ltd., a private Canadian resource development and services company focusing on emerging nations in West Africa, has signed a Strategic Technology Alliance with Northern Oil Research Technologies Inc. (NORT).
Northern Oil Research Technologies Inc. (NORT) holds a patent on a process for a heavy crude oil upgrading technology which is environmentally friendly and economically attractive. Heavy oil reserves are common in West Africa where Kilimanjaro Capital's portfolio is focused. Kilimanjaro Capital recently signed agreements for exclusive oil and minerals rights with the exile governments of Southern Cameroons, Cabinda and Biafra. Forest Gate Energy (TSXV FGE) also has a 20% stake in Southern Cameroons.
Kilimanjaro Capital's CEO Zulfikar Rashid has indicated that the heavy crude oil upgrading technology developed by NORT's chief scientist Frederick Boakye is particularly attractive because it leaves a small carbon footprint. According to Zulfikar Rashid: "Responsible stewardship of resources is of primary importance to Kilimanjaro Capital and its clients; we will be recommending and authorizing this innovative technology as we develop our oil interests." Under the terms of the Strategic Alliance, NORT will also be a provider of technology assistance to Kilimanjaro Capital.
Kilimanjaro Capital's fast growth and emphasis on contingent resource interests has catapulted it to prominence in recent months as the largest known services provider and developer of disputed resource properties in West Africa.
Kilimanjaro Capital Ltd.+1- firstname.lastname@example.org
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