SOURCE: Unity Management Group, Inc.
EAST HANOVER, NJ--(Marketwire - Jul 17, 2012) - Unity Management Group (PINKSHEETS: UYMG), a business resource and service company, today announced that its wholly owned subsidiary, On Track Technology (OTT), has acquired Integrated Oil and Gas Technology Solutions (IOG.) IOG is currently a licensed and bonded operator that has met the requirements for the State of Texas to operate oil and gas leases for approximately 2 years now.
"Historically, Enhanced Oil Recovery (EOR) projects have the highest financial returns in the industry. EOR is a generic term for techniques that increase the amount of crude oil that can be extracted from an oil field. Using EOR, 60% or more of the reservoir's original oil can be extracted, compared with 20-40% using primary and secondary recovery. EOR has been used in the United States for several decades. The Department of Energy has estimated that full use of 'next generation' CO2-EOR in United States could generate an additional 240 billion barrels of recoverable oil resources. Developing this potential would depend on the availability of commercial CO2 in large volumes, which could be made possible by widespread use of carbon capture and storage," said Eddie Schillb, President of OTT.
Mr. Schillb went on to say, "One company we are familiar with is estimating their economic per barrel dollar cost on these projects is in the amazingly low mid-twenty dollar range, depending on the specific field and area. This acquisition complements our prior $500,000.00 acquisition of the rig, roustabout and work over equipment. We are very excited that we now meet the state of Texas requirements to operate in Texas on oil and gas properties. Also, we will be able to utilize the equipment for potential 3rd party clients and pursue our own leases to utilize our new technologies," said Eddie Schillb, President of OTT.
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
www.unitymanagementgroup.com / www.mcc-online.com
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. 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.