SOURCE: PetroTech Oil and Gas, Inc.
BEDFORD, TX--(Marketwired - Mar 10, 2014) - PetroTech Oil and Gas, Inc. (OTC Pink: PTOG) (PINKSHEETS: PTOG) (the "Company" or "PetroTech") Mr. Stephen Machat, founder, and head of the national organization Legalize Pot, announced today that recording artist/songwriter Ellen Burkstel's video of her recording "Who's The Pusher Now," has been nominated for best video of the year by the Association of American Independent Music Distributors.
The video appears on our website (www.legalizepot.us) and will soon be posted to our "Legalize Pot" YouTube channel along with other videos from Snoop Dogg and the many other artists that have contributed recordings and videos to this effort. I have brought onboard the British-based company Base 79, to bring worldwide corporate sponsors to the Legalize Pot - YouTube channel, and a promotion staff to help promote the video "viral" and spread the Legalize Pot message.
Ellen Burkstel's recording of "Who's The Pusher Now," is included along with recordings of Snoop Dogg and others in the compilation, CD/Album entitled "Legalize It! ...Its Natural Vol 1." The album/cd is being released internationally by Universal Music Group and nationally by Redeye, the largest independent record distributor in the United States.
Machat who has long worked behind the scenes to "help change bad laws" formed the organization Legalize Pot early this year to continue his efforts nationally. Machat anticipates physical as well as download sales of well over 100,000 within the next few weeks.
Already enjoying the success of his efforts in Colorado earlier this year, he and his staff are continuing their activates in Florida through a series of concerts which will be filmed and simulcast internationally. Their first concert was January 11 of this year in Miami and was instrumental in acquiring the necessary signatures need to secure the Florida amendment!
Stephen Machat, has a forty-year history of working with many successful entertainers, and feels that the marriage of musical talent and the branding of Legalize Pot is a natural.
In addition, Machat is happy to announce that Legalize Pot is putting together a series of concerts throughout Florida in conjunction with NORML to help register voters in the state to successfully vote in the constitutional amendment this fall. The first shows are scheduled in Miami on the 25th of April and in Gainesville on the 19th of April.
According to Machat, "We are doing this with a street team, which has a huge membership throughout the states. Our goal is to get the amendment passed and to brand our name with the voters as the company who helped bring pot to the market in the states."
Next to be added to the Legalize Pot website, Machat is announcing the creation of a blog where "people can ask us any and all questions regarding the process of the legalization of pot and we will do our best to answer as many questions as possible."
Machat and his Legalize Pot organization along with the Legalize Pot website will be a major force in helping organize and coordinate the national legalization efforts.
Additional information can be found at LP.US Management Group, Inc.'s website at www.legalizepot.us.
About LP.US Management Group, Inc.
PetroTech's subsidiary, LP.US Management Group, Inc., was founded to enter the rapidly growing medical and recreational Cannabis and Hemp market with the goal of establishing business licenses and opportunities around the legal cultivation, production and distribution of Cannabis and Hemp related products and services. All decisions made by the management team are subject to legal compliance and advice of counsel.
PetroTech and LP.US Management Group, Inc. are planning on executing their business objectives in accordance with current State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Cannabis and Hemp. Potential investors and current shareholders are cautioned that PetroTech and LP.US Management Group, Inc. will obtain advice of counsel prior to actualizing any portion of their business plan. This advice, with regard to specific activities of PetroTech and LP.US Management Group, Inc., State, Federal, or Local legal action, or changes in Federal Government Policy or State and Local laws, may adversely affect business operations and shareholder value.
About PetroTech Oil and Gas, Inc.:
PetroTech Oil and Gas, Inc. uses multiple patent technologies for Enhanced Oil Recovery (EOR), and, in some cases, will use their new pumping system co-developed by PetroTech. 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 yield only about 20% of their original oil reserve. Gas injection EOR is a proven method that has been in use over the last 50 years in the oil fields of West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma. Starting in the late 1990's, PetroTech began researching various EOR methods to find an alternative gas to pure CO2 for EOR. In doing so, the Company discovered that a N2-CO2 mixture was 2-3 times more efficient than CO2 in the recovery of stranded oil. PetroTech was introduced to a patented exhaust unit that was more efficient than regular CO2, with a prototype of that equipment being built for injection purposes and being further developed for commercial use.
PetroTech has analyzed the different types of oil producing reservoirs in most of the major geological basins in the United States, and has determined that the use of our extraction methods will enhance the recovery of stranded oil reserves in these areas that otherwise may never be produced. The pinnacle reefs, other reefs in Texas make excellent reservoirs for EOR because they are compact, have consistent reservoir properties, thick pay columns, and are overlain by an impermeable cap seal. However, other formations have responded favorably as well. These reservoirs represent over 300 million barrels of recoverable stranded oil. PetroTech's patented method and technology has the potential to have a major impact on the recovery of stranded oil in U.S. basins. This statement is based, in part, on the fact that there is an unlimited source of gas, an inexpensive infrastructure to transport the gas, and data that supports that a mixture of CO2 and N2 is more efficient than CO2, in some trials.
The cost and recovery of a project will be dependent on size of structure and depth, and will range depending on the type of formation and treatment design. Company forecasts project it will yield an additional 20% to 40% of oil in place, in a period of 5 years. Each successful project is estimated to have a six to twelve month payout.
For more information please go to our website, which can be found at: http://petrotechog.com