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
office@skyepetroleum.com 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.