Freestone Resources, Inc. (OTC Bulletin Board: FSNR) has started conducting laboratory demonstrations of the EncapSol solvent technology to major Oil and Gas Companies. The company has entered into a joint venture on a lease with Haas Petroleum, LLC on a lease in Corsicana, Texas.
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Freestone's goal from the lab demonstrations of EncapSol is to form strategic partnerships and relationships with companies can benefit from the technology as a downhole recovery agent, fracing additive, environmental cleanup technology, and as a oil sand and oil shale extraction solvent.
The joint venture with Haas Petroleum was made as part of an effort to utilize EncapSol as a fracing agent and a downhole enhanced oil recovery method. The JV will include the acquisition of the Corsicana, Texas lease which contains about 1,280 acres and 3 producing oil wells. The company will work with Haas in order to start a drilling program on the lease.
About Freestone Resources, Inc.
Freestone Resources, Inc. (Freestone) is involved in the sale and marketing of a solvent known as Petrozene, which is used in petroleum production operations to break down paraffin, disperse oil tank sludge, and has other industrial-use qualities outside the petroleum exploration and production industry.
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