On Track Technology Solutions Negotiates Joint Venture With CGM Energy on Two of Their Leases
EAST HANOVER, N.J., Nov. 16, 2012 /PRNewswire/ -- Unity Management Group (OTC Pink: UYMG), a business resource and service company, is pleased to announce its wholly owned subsidiary, On Track Technology Solutions Inc. (OTT), Has negotiated the farm out of 2 continuous leases (from Integrated Oil and Gas of UYMG) with CGM Energy LLC; Greenville Texas.
"The two have combined approximate 28 wellbores on the Martin Lease (01388 Railroad Commission Number) and the Knott's Lease (identified by lease number 01759 Railroad Commission); UYMG and CGM Energy executed an agreement whereby CGM on an industry level will provide funds, services and management of the leases to start putting the wells into production. The first phase is to test and install production and injection systems. CGM has spent several thousand dollars over the last several days to purchase equipment and begin process of installing equipment on these systems." Said Eddie Schilb President of (OTT)
"The parties have been discussing the possibility of well potentials, as well as what needs to be done to bring the wells back online. After completion of the first phase, the parties intend on entering into completion phase of the wells applicable for completion after testing of specific wellbores. We hope to achieve 80 BOPD with a successful Nitrogen or CO2 Huff and Puff or Flood completions." He went on to say. "While the price of oil varies daily we used $86.08 per barrel (although most 5 year forecast is $101.07 Per Barrel); upon successful implementation and good results; 80 BOPD would add approximately $167,477 per month or $2,009,724 annually. The lease requires the following: successful well treatment, production flow line, a separator, injection and production systems."
"Historically, EOR projects have the highest financial returns in the industry. One company reports their estimates; amazingly their economic per barrel dollar cost on these projects at current oil prices is in the range of the mid-twenties, depending on the specific field and area. Co2 and Nitrogen is becoming more popular; current success of CO2 gas floods is becoming visible (80 projects producing approximately 200,000 barrels of oil a day an average of 2,500 Barrels of oil a day per project)" Said Josh McAlpine COO of On Trac Technology Solutions Inc.
About CGM Energy LLC;
They are an oil field service company that does work over rigs, backhoes, plugging and general kinds of oil field service work. CGM ENERGY LLC 328 Axe Trail Greenville Texas 75402
About Unity Management Group, Inc.
Unity Management Group, Inc. maintains a network of contacts in the financial community. Our experience facilitates the development of relationships that may lead to financing, joint ventures and other opportunities that are so essential in this age of business and technological relationships.
Unity Management Group, a business resource company, will continue to provide innovative management services that offer high value and significant return on investment through its three subsidiary companies: Unity Capital Acquisitions, Unity Technologies Inc., and United Business Services Inc.
Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physicians' offices and hospitals. Unity Capital Acquisitions will focus on building and accelerating growth oriented companies, with the intent of spinning them out to our shareholders as separate public companies.
For more information please go to our websites which can be found at
About On Track Technology Solutions:
On Trac Technologies Solutions Inc. is a service, heavy Equipment and production company. They develop solutions through their R&D department and through the services department. They work with other service companies and are available to preform services and provide equipment to their company fields after acquisition, to third party companies for hire and for state and regulatory agencies projects. On Trac combines existing technologies for production equipment, EOR equipment, treatments (chemicals, CO2, Nitrogen and mixtures) and processes to provide unique solutions and enhancements for service, hydrocarbon production, and building of structures/infrastructures. On Trac Technologies Solutions Inc. may identify service and acquire energy properties with previously discovered known oil and gas reserves that have not either been fully produced, or fully developed and defined. They will accomplish this through joint venture, farm outs, acquisition, third party service fee, or other means. Such as utilizing new and existing proprietary technologies. Additionally they will be providing equipment, preform heavy equipment construction work in multiple industries, providing multiple services; depending on the need of a project. On Trac believes the oil gas industry and EOR segment is a rapid booming field; On Trac expects to generate profit in this field as well in other fields of operation.
On Track Technology Inc. uses multiple patent technologies for Enhanced Oil Recovery (EOR) gas treatment. We will use this patented technology with other proven EOR technology currently used in the industry. 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 On Track Technology Inc.'s proven patented technology. Without EOR technology, these reservoirs will produce only about 20% of their Original Oil in Place. 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.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Unity Management Group, Inc.
SOURCE Unity Management Group, Inc.