SUGAR LAND, Texas, April 29, 2013 /PRNewswire/ -- Skye Petroleum, Inc. (Pink Sheets: SKPO), ("Skye" or the "company") is pleased to announce that Hoover Oil Field Supply in Clarendon, PA is offering the company's primary chemical technology, Skye Chem Wax Dispersant-Ready to Use (WD-RTU), to its customers in the northwest and central Pennsylvania region. Hoover is a well-known supplier in the region and has been pleased with the responses they are receiving from customers who purchased Skye's technology.
The Skye Chem WD-RTU technology is able to function in multiple ways in the fight against constant paraffin problems. Skye believes its proprietary technology will make life easier for operators who continue to struggle with paraffin in the well bore, perforations, tubing, pumps, rods, flow line and tank bottoms. Charles Grisham of the Thompson Pump Shop in Vivian, Louisiana reports, "In my 34 years of oilfield experience, I have never seen an oilfield chemical that works as well as Skye's WD-RTU. It not only penetrates the paraffin, it keeps it in solution from down hole all the way to the refinery. It cleans the rods and tubing and will control tank bottoms, if regularly used in the system. This will allow the producers to avoid stripping and steaming jobs, saving time and money, and possibly avoid any EPA situation."
Also, Skye continues to test oil wells in new areas of the United States. In Illinois, Bob Johnson, an operator in Crawford County, stimulated two (2) different wells in December 2012 with 10 gallons of WD-RTU, followed by 10 barrels of stock crude oil. After allowing the wells to stand for 8 days, he began pumping again. In the first well, daily production increased from 1 barrel a day to 3 barrels per day, while the second well had a greater result, increasing from ¾ barrel per day to 4 barrels per day. He was exceedingly pleased with the resulting financial gain and has recommended it to other operators in the area. New supplies of WD-RTU were shipped to Illinois last week.
Skye has seen the strongest increase in interest in its technology on a wider scale than at any time in its history. Due to the increase in demand for its chemical technology and further study of its oil and gas leases in northwest Pennsylvania, Skye has determined that drilling oil wells in this region would not offer the best overall return by continuing to operate its oil wells or drill new wells. Skye has sold three (3) of its leases for cash, plus a 1% overriding royalty interest. Skye is currently negotiating to sell the balance of its leases in order to focus its entire effort on sales and distribution of its chemical technologies.
Please visit the company web site, www.skyepetroleum.com or contact Buck Eaton, COO, at [email protected] or 281-265-1199. Skye Petroleum, Inc. is a publicly traded corporation, listed on the "OTC Pink Current Information" tier on the OTC Markets Group, Inc. electronic quotation venue, under the trading symbol SKPO.
SOURCE Skye Petroleum, Inc.