Skye Petroleum, Inc. Posts Sales Revenue in Texas and Pennsylvania

SUGAR LAND, Texas, Dec. 13, 2011 /PRNewswire/ -- Skye Petroleum, Inc. (Pink Sheets: SKPO), (the Company or "Skye") is pleased to announce that the first chemical sales revenue for its paraffin inhibitor technology was realized in the fourth quarter in the states of Texas and Pennsylvania.  The company developed a sales team in the third quarter of 2011 in order to expand and increase its revenue potential.  Skye has produced revenue from its own oil leases as well as from its production sharing contract in northwest Pennsylvania.  The company anticipates further growth in sales in 2012.

Skye continues to experience ongoing positive test results of its proprietary chemical technology in both Texas and Pennsylvania.  Rick Tallini of Otto Torpedo Company in Pleasantville, PA recently reported the following after using Skye's pretreatment chemical process on a well in northwest PA.

Case Study of Skyechem Wax Dispersant:  Pennsylvania, November 2011

This is how we treated well # T2 on the Thomas Lease located in Venango County PA off Oleopolis Rd:
(1) We pumped the well until it was pumped off
(2) We mixed up 5 gallons of Skyechem WD with 220 gallons of lease crude oil and 20 gallons of off road fuel oil.
(3) The above mixture was dumped down the annulus of the well.
(4) An Atlas Copco 370CFM/200psi air compressor was hooked up to the annulus of the well and the air turned on.
(5) Air pressure was applied for 1 1/2 hours at a maximum pressure of 135psi and a volume of 370 CFM(cubic feet per minute) and the pressure locked in.
(6) One week later the well was put on pump.  Two hours on two hours off.  The well pumps at the rate of 2 gallons per minute.
(7) The first day of pumping we got all the treatment oil back
(8) The second day of pumping( 17th Nov) we got 10 barrels of oil.
(9) Every day since the 17th the well has made around 3 barrels per day
(10) This well normally makes 3 barrels of oil per month so to pump over 25 barrels in 6 days is phenomenal!

Business Day Television, hosted by NFL Hall of Fame quarterback, Terry Bradshaw will be airing on the Ohio News Network (ONN), statewide every Saturday in the month of December at 8 AM EST.  The program discusses Skye's compelling story of suspending paraffin in oil wells while increasing production. 

As the company moves forward into 2012, its leadership has reached out to find more experienced and seasoned executives and managers to enhance its growth in this development stage.  Brad Knollenberg has asked Gerald Weber to step into the role of CEO.  Weber founded and developed an oil tool company 31 years ago that has thrived under his leadership and continues to be very successful.  The company believes this experience will best serve the shareholders into the future.  Weber will also develop a Board of Directors of seasoned professionals that will be announced in early 2012.

Please visit the company website at www.skyepetroleum.com or contact Buck Eaton, COO, at [email protected] or 713-254-0176.  Visit Business Day TV at www.businessdaytv.com. Skye Petroleum, Inc. is a publicly traded corporation, listed on the "OTC Pink Current Information" tier on the OTC Markets Group, Inc. quotation venue, under the trading symbol SKPO.

SOURCE Skye Petroleum, Inc.