Cobra Oil & Gas Provides Technology Update for Utah Oil Sands Prospect
July 23, 2009 09:00 AM Eastern Daylight Time
HOUSTON--(BUSINESS WIRE)--Cobra Oil & Gas Company (OTCBB:CGCA) (hereafter "Cobra") is pleased to announce that the company, along with its partner Enercor Inc., has secured the use of a proprietary oil extraction process for its Utah Oil Sands Prospect. The process, known as In-situ Combustion ('ISC'), will be overseen and carried out by Vernal, Utah-based Rocky Mountain Consulting, utilizing the expertise of renowned petroleum engineer Dr. Daulat Mamora, who is an expert in ISC methodology.
"We are pleased to utilize the most effective, efficient and environmentally sensitive methods available to extract oil from our promising Utah Oil Sands Project," said Max Pozzoni, Cobra's President. "Our belief is that In-situ Combustion is the most ideal method of extraction for a project with this large potential."
ISC works as an enhanced oil recovery utilizing conventionally drilled wells, with one well designated for injection, and multiple surrounding wells for oil production, or recovery. Upon completion of the wells, heat is introduced into wells designated as injection wells, which mobilizes the oil in place for free flow and pumping.
Along with the added ease of flow, the heat from the combustion adds to the economic benefits through upgrading the oil to a lighter grade. The heat cracks the crude hydrocarbons, vaporizes the lighter hydrocarbons, and deposits the heavier hydrocarbons as coke. The process results in the oil becoming a more suitable feedstock for refining purposes, which potentially enhances the marketability of the end product to a refiner.
“ISC is a very efficient and cost-effective method of getting more oil out of known fields,” said Dr. Daulat Mamora of Rocky Mountain Consulting. “It can recover more oil, at a lower cost, and in less time than most other processes when applied with proper engineering and process management, which requires skill and precision.”
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