HELENA, Mont., July 1, 2013 /PRNewswire/ -- Bakken Resources, Inc. (OTCQX: BKKN) ("BRI") announces a joint venture and collaboration agreement with Applied Geotech, Inc. Among the initial activities to be part of the joint venture is the development of enhanced oil recovery technologies (EOR) for potential implementation in the Williston Basin.
Applied Geotech's president is Andrew D. Yu. Dr. Yu has 39 years of experience in the research and application of various technologies in the areas of EOR and the radiological assessments of groundwater flow and contaminant transport modeling. Dr. Yu has supervised various EOR research and implementation projects for large operators such as Chevron and Texaco. For the past 17 years, Dr. Yu has been closely associated with analysis, containment and safe transport of nuclear waste while working with the Savannah River National Laboratories in connection with the Savannah River Site, which has long been a critical part of the United States' nuclear weapons program.
"We are very excited at the level of experience that Dr. Yu brings to BRI and are honored to be working together with Applied Geotech to develop what we believe could be invaluable applications to the operators in the Williston Basis and other similar shale plays," noted BRI's CEO and Chairman, Val M. Holms.
One of the initial projects the collaboration will focus on is the development of a first-in-class, transportable, customizable, efficient and economical gas collection, separation and reinjection system.
ABOUT BAKKEN RESOURCES, INC.
BAKKEN RESOURCES, INC. is an oil and gas exploration/exploitation and development company with activities currently focused on the acquisition of mineral leases in North Dakota and Montana and the development of potential EOR technologies.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, including among others, statements and projections regarding BRI's future financial position, operations, performance, business strategy, returns, budgets, reserves, levels of production and costs and statements regarding the plans and objectives of BRI's management for future operations, are forward-looking statements. BRI typically uses words such as "expect," "anticipate," "estimate," "project," "strategy," "intend," "plan," "target," "goal," "may," "will" and "believe" or the negative of those terms or other variations or comparable terminology to identify its forward-looking statements. In particular, statements, express or implied, concerning BRI's future operating results and returns are forward-looking statements. Forward-looking statements are not guarantees of performance. BRI makes no representation of the accuracy of any information presented or derived from any third party sites or information.
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SOURCE Bakken Resources, Inc.