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Ed Johnson joins FluidOil Board as Non-Executive Director

The Board of Directors of FluidOil Limited is pleased to announce the appointment of Ed Johnson as a Non-Executive Director with immediate effect.

ed_johnson

Ed has significant experience at board level in the oil and gas sector. He currently serves as Chief Executive Officer of Minotaur Environmental Services, a leading provider of soil remediation, oil sands production and water treatment services to the energy sector. Minotaur is active in Europe, Southeast Asia and Africa.

Ed’s previous executive roles have included Partner at Lothian Oil & Gas Partners, Chief Executive Officer at AIM-listed Sirius Petroleum Plc, Head of the New Markets Oil Team at Renaissance Capital, the leading international Emerging Markets Investment bank, and Head of Oil & Gas Specialist Sales at Canaccord Adams in London. Prior to Canaccord, Ed was a Partner at NewSmith Capital Partners, responsible for the Resources and Energy fund, and he has also worked at Merrill Lynch and Barclays Capital.

Olav Ellingson, Non-Executive Chairman of FluidOil Limited, said:

“I’m delighted to welcome Ed to the Board as a Non-Executive Director. His significant experience and knowledge of the oil and gas industry and capital markets, including as CEO of AIM-listed Sirius Petroleum, will greatly benefit the Company and we are very much looking forward to working with him.”

oil_and_gas_investments

Oil and Gas Investments Bulletin – Canada’s Pipeline Problems Have a Unique (Partial) Solution

VHTL_heavy_oil_upgradingNorth America is finding more oil than it can pipe or ship. Investors and the general public alike now know the story about pipeline constraints; it’s in our [US and Canadian] newspapers every day. Right now, the Permian formation in west Texas has it, and Western Canada has it. The Bakken play in North Dakota had it in 2012. (And the Marcellus natgas formation in Pennsylvania has had it for almost 10 years!

According to Keith Schaefer, writing in Oil & Gas Investments Bulletin, there’s a unique solution–or at least a partial solution–to Canada’s problem, and that is: upgrading Canadian heavy oil.

One of the new technologies that Schaefer identifies as a potential solution to the partial upgrading of Canadian heavy oil is FluidOil’s VHTL.

Read the full article on the Oil and Gas Investments Bulletin website.

 

 

FluidOil eNewsletter – Q2 2018

Mexico joint venture supports VHTL commercialisation strategy

FluidOil has concluded an agreement to form a new joint venture in Mexico, to advance the commercialisation of its VHTL upgrading technology in the country.

The joint venture, trading as FOMEX S.A. de C.V. (“FOMEX”), will see a new local partner, Petrofusion S.A de C.V. (“Petrofusion”), join FluidOil’s existing partner in Mexico, Mr. Americo Leal Rios (“Mr. Leal”), to provide testing and heavy oil upgrading services to Pemex, the state oil company, and other third parties, as well as to improve techniques and processes associated with producing, processing and refining heavy oil in Mexico.

FluidOil Chief Executive Officer, Charles Parker, said:

“We are delighted that our partners in Mexico recognise the opportunity that VHTL technology represents as well as the economic and logistical benefits it can bring to the heavy oil and refining market. Our partners have great experience in running successful businesses in the Mexican energy and resources sectors and have already demonstrated their ability to market VHTL and position FOMEX to secure suitable contracts. We are excited to partner with them as we seek to build a significant business in the country.”

FluidOil is implementing a multifaceted strategy to commercialise its VHTL technology. This involves the installation of VHTL heavy oil upgrading plants for a range of customers. The Company is actively pursuing this strategy in various regions of the world and has advanced opportunities currently in North America and the Middle East, as well as in Mexico.

This joint venture will see the local partners fund all of FOMEX’s core operations, including the installation, commissioning and operations of a pilot testing plant to provide a dedicated feedstock testing facility in Mexico. FluidOil will provide FOMEX with technical expertise and commercial support.

The FOMEX joint venture (FluidOil share 50 per cent, Petrofusion share 25 per cent, and Mr Leal share 25 per cent) holds full exclusive rights over the license for VHTL technology in Mexico. FOMEX has a mandate to negotiate, sign and deliver full service contracts with third parties in Mexico to commercialise VHTL technology.

Contact

The Middleton Partnership M. +44 (0)7885 508527
Ian Middleton E. pr@fluidoil.co.uk

About Petrofusion

Petrofusion is a subsidiary of MVRS Holdings, a Mexican, multinational holding company, headquartered in Monterrey, Mexico, with operations in 19 countries and employing more than 1,300 people. MVRS encompasses a diverse portfolio of investments across a number of sectors including financial services, venture capital, business consulting, steel, chemicals, plastics, food service, entertainment, assistance services, real estate and land development, and oil technology. Petrofusion focuses specifically on the oil and gas market and invests in pioneering and innovative technologies that can disrupt the industry.

About Mr. Americo Leal Rios

Mr Leal is the owner of PYMSA S.A. de C.V. (“PYMSA”), a family-owned Mexican company focused on providing oil services to Pemex, as well as developing other opportunities in the Mexican oil sector. FluidOil and Mr Leal entered into a Framework Agreement in 2013 to offer heavy oil upgrading services in Mexico to Pemex and to raise the profile of FluidOil’s upgrading technology in the country.

FluidOil eNewsletter – Q1 2018

Our January 2018 eNewsletter updates on exciting new commercial discussions, developments at our testing facility in San Antonio, Texas, and the latest news on our Reverse Take Over with Dawson Gold, plus other news.

Appointment of Head of Engineering

London, October 23, 2017: FluidOil, the independent international heavy oil technology company, is delighted to welcome Howard Simons as a full-time member of the Company in the newly created role of Head of Engineering. For the past two years, Howard has worked with FluidOil as an external consultant, helping to operate the Company’s UK pilot plant for the conversion of heavy oil and bitumen to synthetic crude oil in a commercial scale unit. Through this work, Howard has developed a detailed understanding and knowledge of the Viscositor Heavy-to-Light (“VHTL”) oil conversion process.

Howard_SimonsHoward will have responsibility for FluidOil’s commercial engineering as well as the engineering for the Company’s Feedstock Test Facility located at the Southwest Research Institute (SwRI) in San Antonio, Texas, USA.

Howard has over 30 years’ experience in refinery and process engineering projects globally, and is a leading expert on heavy oil upgrading. He has worked previously as head of refining and heavy oil at KBR, and as technical director for the Sonhoe Development Company on a large UK heavy oil upgrading project.

Howard graduated from the University of Sheffield in 1974 with an Honours Degree in Chemical Engineering and Fuel Technology.  He is a qualified Chartered Engineer, a Fellow of the Institution of Chemical Engineers, and a Member of the Energy Institute.

Charles Parker, CEO, commented: “We are delighted to have Howard join our senior management team on a full-time basis. His experience, knowledge and vision will be instrumental in optimising the ongoing integration of HTL with FluidOil’s Viscositor technology, enabling us to accelerate the commercialisation of VHTL. The team are looking forward to working with him even more closely than before.”

Media Enquiries
Celicourt Communications
Ian Middleton / Jimmy Lea
E:  fluidoil@celicourt.uk
M: +44 7885 508 527

Dawson Gold Enters Into Engagement Letter with Emerging Equities Inc.

NOT FOR DISTRIBUTION IN TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, October 13, 2017: Dawson Gold Corp. (NEX: DYU.H) (“Dawson” or the “Company”) is pleased to announce that it has entered into an engagement letter with Emerging Equities Inc. of Calgary (“EEI”) pursuant to which EEI will act as the lead agent for the Company in connection with its proposed prospectus offering of a minimum of 30,000,000 common shares and a maximum of 50,000,000 common shares of the Company at a price of $0.25 per share for gross proceeds of a minimum of $7,500,000 and a maximum of $12,500,000 (the “Offering”). The Company has also granted EEI an over-allotment option to purchase up to an additional 10,000,000 common shares at a price of $0.25 per share for a period of 30 day from the date of the completion of the Offering.

The Company has agreed to pay EEI a cash commission of 7% of the gross proceeds of the Offering and an option to purchase 7% of the number of shares sold pursuant to the Offering, exercisable for 24 months.

The common shares will be offered in the provinces of Alberta, British Columbia, and Ontario, and in such other jurisdictions including the United States and Europe subject to certain exemptions from registration of the shares being available.

Closing of the Offering is subject to, and will occur concurrently with, the completion of the proposed business transaction with FluidOil Limited (see news release dated April 12, 2017 for more information). The Offering is also subject to approval of the TSX Venture Exchange.

About Dawson Gold Corp.

Dawson Gold is a junior mineral exploration company with no active operations. The company was incorporated under the BCBCA on January 16, 2006, and is publicly traded on the NEX Board of the TSXV under the trading symbol “DYU.H”.

About FluidOil Limited

FluidOil is an independent, international oil services technology company that is commercializing the “Viscositor Heavy to Light” (“VHTL”) oil upgrading technology. VHTL is a proprietary and patented technology that provides a cost efficient and environmentally sound way to increase the economic viability of heavy oil production by upgrading close to source. The VHTL process improves the properties of heavy oil by reducing viscosity, reducing density, and removing undesired contaminants, resulting in a higher value synthetic crude oil which can be transported as easily as conventional crude oil.

About Emerging Equities Inc.

Emerging Equities Inc. (“EEI”) is an independent, employee owned Investment Dealer registered in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, specializing in underwritings, mergers, acquisitions and divestitures of emerging companies (i.e. market capitalization of $2 – $300 million). EEI is a Type III introducing broker and a member of the Investment Industry Organization of Canada, the Canadian Investment Protection Fund, and a Participating Organization with the TSX Venture Exchange.

For more information, contact:

John Anderson, Director
T:  +1-604-218-7400
E:  john@purplefish.ca

Bijay Singh, Director
T:  +1-604-897-0132
E:  bijay@shaw.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referenced in this press release have not and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.

 

Offshore Technology – Steam Oil and FluidOil Sign Technology Deal

Offshore Technology

4 May 2017
Offshore Technology

Steam Oil Production has signed an agreement to explore the potential of integrating FluidOil’s Viscositor Heavy-to-Light (VHTL) oil upgrading technology into an offshore steamflooding project. Currently, Steam Oil is working on plans for the offshore project. The company holds multiple licences of heavy oil reservoirs in the UK Western Platform, 140km east of Aberdeen. These licences are expected to contain approximately 650 million barrels of oil.

FluidOil VHTL Offshore Facility

FluidOil VHTL Offshore Facility

Steam Oil CEO Steve Brown said: “Steamflooding is the most effective recovery mechanism for heavy oil and we expect to see recovery factors of between 50% and 80% when we steamflood these reservoirs. To do that, we will need a lot of steam and the steam produced as a by-product of FluidOil’s upgrading process will significantly reduce our fuel costs.

“In addition, the VHTL process does not demand a stringent water-in-oil content specification so we can simplify our process requirements.”

As the first step towards the development, Steam Oil is set to construct a steamflood demonstration project on part of the pilot field.

FluidOil’s VHTL technology can generate significant volumes of high-pressure steam and its integration with the Western Platform Steamflood project is expected to reduce separation, steam generation and associated fuel requirements.

Under the agreement, both Steam Oil and FluidOil will evaluate the potentiality to determine the plant configuration for optimal process synergy.

 

For more information, contact:
Celicourt Communications
Ian Middleton / Jimmy Lea
Telephone: +44 (0)20 7520 9261
Email: IMiddleton@celicourt.uk

 

Offshore Oil & Gas – Steam Oil investigates VHTL for heavy-oil North Sea fields

Offshre-Oil-&-Gas-Masthead

By Offshore Staff – 3 May 2017
Offshore Oil & Gas Magazine

LONDON – FluidOil has entered into a cooperation agreement with The Steam Oil Production Co., operator of various undeveloped heavy-oil fields in the UK North Sea. The two companies will investigate the application of FluidOil’s Viscositor Heavy-to-Light (VHTL) oil upgrading technology into an offshore steam flooding project.

Steam Oil’s heavy-oil reservoirs are in an area known as the Western Platform, 140 km (87 mi) east of Aberdeen. Collectively they hold in-placed resources of nearly 650 MMbbl. Initially, Steam Oil plans to construct a steam flood demonstration project on part of the Pilot field. The subsequent steam flood development of the remainder of Pilot and the other Western Platform fields, could, the company believes, deliver more than 300 MMbbl. Further exploration success in the area could increase the potential recoverable resource base to more than 500 MMbbl.

The VHTL technology generates large volumes of high-pressure steam. Integration into the process design for the follow-on Western Platform Steam Flood project could reduce separation, steam generation, and associated fuel requirements. The two companies will examine this potential and determine the optimum plant configuration to maximize process synergies and at the same time minimize fuel costs.

Steve Brown, CEO of Steam Oil, said: “Steam flooding is the most effective recovery mechanism for heavy oil and we expect to see recovery factors of between 50% and 80% when we steam flood these reservoirs. To do that we will need a lot of steam and the steam produced as a by-product of FluidOil’s upgrading process will significantly reduce our fuel costs. “In addition, the VHTL process does not demand a stringent water-in-oil content specification so we can simplify our process requirements. Finally, the VHTL process consumes heavy metals and naphthenic acid and other contaminants which refiners do not like and which would otherwise affect the value of our crude.”

VHTL combines FluidOil’s patented ‘Viscositor’ technology with the ‘Heavy-to-Light’ upgrading process which the company acquired when it purchased the intellectual property of Ivanhoe Energy in 2016. The VHTL process is a simplification of the traditional Fluidized Catalytic Cracking process, used widely in petroleum refineries. VHTL can upgrade heavy oil from less than 10° API into a synthetic crude oil with a gravity of between 23° and 29° API, while removing most of the heavy metals, lowering the sulfur content, significantly reducing the total acid number, and lowering the viscosity. Taken together, this simplifies handling of the crude oil, reducing production and logistics costs, and allows heavy-oil producers to obtain a higher price for their product – up to $20/bbl.

 

For more information, contact:
Celicourt Communications
Ian Middleton / Jimmy Lea
Telephone: +44 (0)20 7520 9261
Email: IMiddleton@celicourt.uk

 

Penn Energy – FluidOil and Steam Oil Enter Into Oil Technology Agreement

1439997446571May 2, 2017
By PennEnergy Editorial Staff , PennEnergy
Source: The Steam Oil Production Company

 

The Steam Oil Production Company has entered into a cooperation agreement with FluidOil, the independent international heavy oil technology company, to explore the potential of integrating FluidOil’s Viscositor Heavy-to-Light oil upgrading technology into an offshore steam flooding project.

Steam Oil is working on plans to launch the world’s first major offshore steam flooding project. Steam Oil has under licence or award a number of heavy oil reservoirs in the UK, in an area known as the Western Platform, some 140 km east of Aberdeen. These discoveries have a total of nearly 650 million barrels of oil (“mmbbls”) in place.

As a first step to developing this resource base, and to learn how best to steam flood offshore, Steam Oil plans to construct a steam flood demonstration project on part of the Pilot field. The subsequent steam flood development of the remainder of the Pilot field, and the other Western Platform heavy oil fields, has the potential to produce in excess of 300 mmbbls. Further exploration success could increase the potential recoverable resource base from the Western Platform to over 500 mmbbls.

FluidOil’s VHTL technology generates significant volumes of high pressure steam, and its integration into the process design for the follow-on Western Platform Steam Flood project could reduce separation, steam generation and associated fuel requirements. As part of the cooperation agreement, FluidOil and Steam Oil intend to explore this potential and to determine the plant configuration which maximises process synergies, delivers the highest value of product from the Western Platform reservoirs, and minimises fuel costs.

“We are very taken with the obvious synergies of integrating FluidOil’s upgrading technology into a steam flooding project,” said Steve Brown, CEO of Steam Oil. “Steam flooding is the most effective recovery mechanism for heavy oil and we expect to see recovery factors of between 50% and 80% when we steam flood these reservoirs.”

“We are pleased to be playing a part in what could potentially be the first project of its kind,” said Charles Parker, CEO of FluidOil. “At a time when the industry is looking to maximise value, we believe that our patented technology could help play an important role in enabling offshore heavy oil producers realise greater returns from their output.”

 

For more information, contact:
Celicourt Communications
Ian Middleton / Jimmy Lea
Telephone: +44 (0)20 7520 9261
Email: IMiddleton@celicourt.uk