PetroTech Oil and Gas, Inc.'s Subsidiary (Legalizepot.us Inc.) LP.US Management
Group, Inc. Announces Expansion in Washington and Colorado
BEDFORD, TX -- (Marketwired) -- 02/26/14 -- PetroTech Oil and Gas,
Inc. (OTC Pink: PTOG) (the "Company" or "PetroTech) announced today
it has expanded Cannabis and Hemp production and distribution
channels in states of Washington and Colorado. The company has
secured a Medical and Recreational License from the state of
Colorado, and has signed on six licensed growers, as well as three
additional growers in Washington. They are currently negotiating to
lease warehouse space in Tacoma, Washington, and a dispensing
storefront in Telluride, Colorado.
As a result, the company has increased its projected production
capacity to a minimum of 60-70 pounds per state, per month, with an
average market price of $3,000.00 per pound.
Founder Steven Machat states, "Our management team remains committed,
and on schedule, to securing a leadership position in this rapidly
emerging marketplace. These most recent expansions are just the first
in a series, with additional expansion opportunities being finalized
and announced in the very near future."
He went on to add, "On the Entertainment Arts side of things, the
music video of Ellen Bukstel 'Who's the Pusher Now' has just been
nominated by the A2IM American Association of Independent Music
Awards, and we are signing SpaceGhostPurrp to create his own
marijuana line called Space Goes Purple, and he will give us a song
for our next record compilation."
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 Enfor
cement 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
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
For more information please go to our website, which can be found at:
PetroTech Oil and Gas, Inc.
E Relations Group
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