DIDSBURY, Alberta, September 7, 2016 /PRNewswire/ --
Xfuels Inc. (OTC: XFLS) is pleased to report on joint venture progress.
Area 2 Energy completed swabbing its first test group of 7 wells and results were very encouraging. Swabbing is a method of removing water from the wells in order to allow the gas to flow better which translates into increased production. Prior to the swabbing the group of wells was producing an average of 68 GJ/day and post swabbing an immediate increase was recorded of 230 GJ/day giving a net increase of approximately 230%.
Mr. Michael McLaren states "The increase in natural gas production represents a group of some of our best producers and as we begin to clean out more wells we believe the results will be as impressive." He further stated "The test swabbing is proof that by implementing the full capital plan to increase the well production will dramatically increase profitability."
Area 2 will continue the swabbing program on 100 additional wells over the next few weeks as per the capital plan and will analyze the results. Area 2 currently owns and operates 350 wells on the Atlee property.
About XFuels, Inc.
XFuels The Clean Petroleum & Power Company is a publicly held energy company based in Portland, Oregon USA, established to design, build, and operate regionally-integrated, small-to-midcap electricity and petroleum production facilities. XFuels is a leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve the quality of life on our planet.
The company's (patented and patent-pending) IP delivers one of the highest energy yields (electricity at sub-5 cents per kWh, and diesel fuel profitable at $25 a barrel oil without government subsidies), from a broad range of carbon-bearing inputs (Gas. Coal, forestry, agricultural, and urban waste including municipal solid waste and plastics), with one of the lowest capital expenditures of any known energy production method. One of XFuels technologies literally converts garbage to gas.
XFuels offers a range of low cost attractive modular systems via its hydrocarbon bio refinery platform (the XRefinery), which produce low cost electricity and advanced petroleum-equivalent fuels and chemicals in partnership with select small to mid-size industrial energy users (email@example.com) in target markets.
XFuels Clean Petroleum chemicals and fuels have the same molecular composition as traditional petroleum, offer premium performance with NEAR-ZERO environmental footprint, and with easy integration to full market penetration in today's existing petroleum vehicle fleet and distribution infrastructure.
For more information on Xfuels Inc. please see http://www.xfuels.com
Also you can visit us at Investors Hangout: http://investorshangout.com/Xfuels-Inc-XFLS-88175/
This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Xfuels Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Xfuels Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Xfuels Inc.'s filings with the Securities and Exchange Commission.
SOURCE Xfuels Inc.