Despite the fact the world appears to be running out of oil, some 87 million barrels of oil were still consumed per day in 2010 (Source: CIA World Factbook). The emerging markets of China and India are driving this daily figure higher minute by minute. It’s unlikely there will be sufficient oil for the remainder of this century, and even alternative energy experts are sceptical that this is sufficient time to overcome the world’s dependence on oil.
BBRTM - Extending the lifetime and asset value of known resources
Enhanced Energy Recovery Inc ( EER ) has developed an environmentally friendly process that can potentially extend the lifetime of oil reserves significantly. This unique process, known as Bio Remediation RecoveryTM (BRR), takes advantage of the vast amounts of un-utilized oil reserves in almost all oil fields. These oil reserves exist in the form of heavy crude, being the thick oil or sludge that exists at the bottom of oil wells. Heavy crude oil represents more than half of the world’s “recoverable” oil reserves (Source: Peak Oil – True or False, Stephen Lendman, 6 March 2008). But, until recently, it has not been cost effective to recover this “heavy” oil.
BRRTM uses an in situ microbial activity and bio-surfactants to not only cost-effectively break down the heavy oil, but to also remove impurities from that oil before it is recovered. The BRRTM Process therefore not only potentially releases substantial value in terms of previously unrecoverable oil, but may also significantly decrease the cost of refining that oil.
EER Ltd has put together a team of technical and business experts with a proven ability to commercialize the BRRTM Process, and to translate the potential of this MEOR business to a profitable exit for investors. The Corporate team is led by Gary Davis. Gary has over 30 years’ business experience, and has been responsible for taking companies in a number of industries from start- up through to sale and/or listing on public markets.
The Advisory team is led by Professor Ibrahim Banat, one of the world’s leading experts in bio- surfactants production and the use of bio surfactants and microbial activity for enhanced oil recovery. Professor Banat has been highly successful in recovering commercial heavy crude oil from oil storage tanks, and has extended his expertise in this area to the recovery of heavy oil from oil wells. He has exclusively committed his services, expertise and know-how in this field to EER.
The BRRTM Process has the following significant advantages over competitive recovery methods:
- It has been developed to recover heavy crude oil in a range of environmental situations, and across a range of heavy crude oil conditions (eg: high sulphur levels);
- It uses the same recovery infrastructure as for conventional crude oil, saving millions of dollars on infrastructure construction required for other recovery methods;
- It can be applied across a greater range of oil recovery situations, including recovery from oil sands;
- It is environmentally friendly; and
- It has demonstrated yields unachievable with other recovery methods.
EER offers the following financial advantages:
- Ability to re-value languishing assets;
- High value benefit to small to medium oil companies;
- Vendor financing potential based on expert re-valuation;
- Industry with growing revenues and increasing prices;
- Strong un-utilized resource asset class; and
- Opportunity for new structured financing options.