FLASH – Results in From Lost Hills Testing
From: Riggs Eckelberry
Los Angeles, February 22, 2013
Zacks Research Weighs In
Independent analyst Ian Gilson said in yesterday’s Zacks update:
Management has decided to focus on the crude oil/water separation market using the “CLEAN-FRAC” system based on its Solids out of Solutions technology.
In our opinion this is a very positive move by the company.
It has the potential of generating very high profit margins without diluting its major market efforts.
We’re very happy to hear this positive analyst feedback.
Here’s an early peek at his post-testing report:
The produced water was fairly contaminated with a heavier crude oil and drilling residues. From the first test, there was significant separation of the oil and solids from the water.
Subsequent testing showed that Total Suspended Solids (TSS) were reduced as much as 97% and hydrocarbons by as much as 99%.
Wow! We knew that we removed the petroleum, but removing TSS is something new.
TSS measures turbidity, or sediment. It’s a big breakthrough that we can remove them along with the organic particles. That has huge implications.
More on this next week, as we produce a more complete report!
I still can’t get over the fact that it took just one field test to demonstrate the process working perfectly.
Off to Texas
Now we’re set for Texas.
In San Antonio, we have an industry site that will host our demonstrations.
Looks like the third week of March.
After that we’re off to Houston for press demonstrations.
Remember to Like our Facebook Page so you can see the photo stream!
The new licensing group
Alex came to us from USC’s Stevens Institute of Innovation, where he helped manage the complex licensing process of as many as 150 inventions at a time.
As Director of Operations, he coordinated the rollout of our Algae Appliance™ and Clean-Frac™ products.
Now he will have Profit and Loss (P&L) responsibility for the new Licensing Group.
As I write this, Alex is handling major licensing negotiations in areas — such as algae — in which we have invested many years of research and development. He is doing a great job.
Alex is welcomed to the hot plate!
OriginOil featured in “10 Algae Trends for 2013”
Biofuels Digest reported this week on the ten big trends for algae this year.
The 10th is REMEDIATION, spotlighting our latest project in aquaculture!
Enjoy your weekend!
Riggs and Team
President & CEO
OriginOil, Inc. (OOIL)
Safe Harbor Statement:
Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.