Southwest Resources, Inc. (Pink Sheets: SWRS) has entered an agreement in principle to develop a joint venture (JV) arrangement with QortechOil, Inc. Under the terms of the arrangement, QortechOil has provided and installed cutting edge technology on one of the mineral leases in Creek County, OK belonging to the company. The technology is being installed to test for enhanced oil production from existing wells.
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Over the next 30 days, both companies will evaluate the results of the testing. The technology is unique in that it causes an electromagnetic variance to polarity to influence the fluids. Should the test show the result of increased oil production, the company plans to expand the joint venture relationship to several other leases.
Southwest Resources, Inc. is an energy and mining company engaged in the acquisition, development, exploration and production of natural gas, crude oil, placer deposits of precious metals such as gold and platinum, and other income-producing natural resources.
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