Via the acquisition, SINO now owns Tritium’s recently awarded patent (CAVITATION APPARATUS AND RELATED SYSTEMS AND METHODS, EFS ID: 45321627) for their Oil Upgrading Technology which converts heavy WCS Western Canadian Select to WTI pricing.
This technology is currently installed and operational at the
$8.00 per cubic meter (1000 liters) of produced water to be taken in and injected down Tritium’s disposal well$16.00 per cubic meter (1000 liters) of emulsion to be taken in and treated at our facility
SINO and Tritium, have joined forces to increase the size and processing capability of the Cynthia facility throughout 2022 and 2023.
The acquisition is subject the delivery of US GAAP audited financial statements from
SINO is currently updating its filings to remain fully compliant with the Securities regulators of both the US and
ABOUT SINO:
Information about Forward-Looking Statements This press release contains "forward-looking statements" that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward looking statements. Important factors that could cause these differences include but are not limited to: inability to gain or maintain licenses, reliance on unaudited statements, the Company's need for additional funding, the impact of competitive products and pricing, the demand for the Company's products, and other risks that are detailed from time-to-time in the Company's filings with the
Contacts:
Email: ir@sinooilcorp.com
Website: www.sinoamericanoil.com
Phone: (360) 361-8066
Source:
2022 GlobeNewswire, Inc., source