AM Oil Resources & Technology Inc. (OTCBB: AMOR) Closed at $0.86. Up $0.04. Announced today that it intends to build approximately 20 of its patented MT-06 Portable Steam Systems in 2009. As previously stated, each Portable Steam Systems used by the Company is capable of producing from $2-$6 million in annual revenues for AM Oil Resources & Technology. The Company’s technology is a self-contained steam generator system with an innovative drumless boiler, generator set, pumps and water purification system capable of producing variable temperature steam (500 to 750 degrees Fahrenheit) at variable pressures (300 to 2500 psig) and steam qualities of 70 to 85%. The systems are trailer or skid mounted and designed to produce steam that is injected down the casing of oil wells to oil producing zones to recover oil previously unrecoverable without heat and pressure.
Anthony K. Miller, CEO of AM Oil Resources and Technology, commented: “These systems are designed for Company usage as well as to market to customers worldwide for joint venture opportunities. We intend to build both 10 million BTU and 25 million BTU systems. These units are easily moved from well to well injecting steam into the wells from days to weeks depending on the oil formation. Based upon the domestic and international interest (Canada, S. America and Mexico) we are receiving, we are confident that we have sufficient interest to warrant 20 units as an attainable goal.
”According to the Energy Information Administration (EIA), which provides the official energy statistics from the U.S. Government, the U.S. consumed 20.68 million barrels of crude oil and petroleum products per day in 2007 and our daily production is just above 5 million barrels per day. The Country has over a trillion barrels in reserves and much of that oil is trapped in oil formations that can only be recovered with technology. To meet our daily demand, the U.S. gets the vast majority of its oil from foreign sources. Because of our weak economy, we borrow from China to pay for the oil we need, deepening our economic crisis and expanding our trade deficits. We believe that producing our own domestic oil is a better option for the country and we believe that our technology is a solution in that direction,” further commented Miller.
What They Do: AM Oil Resources & Technology makes portable steam generators that are designed to maximize oil production in oil fields, both domestically and internationally. This technology is able to recover crude oil that would otherwise remain in the ground forever. The Company believes that its unique approach of applying its proprietary technologies to non-producing oil wells, with known reserves, will earn the company a profitable niche in the petroleum industry. Targeting approximately 480,000 marginal wells in the United States, the Company is ideally positioned to provide an environmentally safe and cost-effective method of maximizing oil production.
How They Trade: AMOR has a 52 week high of $1.01 and a 52 week low of $0.56.
Nitro Petroleum (OTCBB: NTRO) Closed at $0.049. Announced Friday after market closethat it has entered into an agreement to acquire oil and gas leases covering approximately 1,600 acres in Montana with two additional options to acquire an additional 1,600 acres per option. A substantial portion of this land package is located in the prolific Powder River Basin. Nitro will own 100% of the coal, coal bed methane, and oil and natural gas rights. The company will pay a 20% net royalty on production.
What They Do: Nitro Petroleum, Incorporated is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States. Nitro's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity.
How They Trade: NTRO has a 52 week high of $0.45 and a 52 week low of $0.03.
Itronics (OTCBB: ITRO) Closed at $0.0024. Announced Friday after market close that its wholly-owned subsidiary, Itronics Metallurgical, Inc., is off to an excellent start for 2009 with GOLD'n GRO fertilizer orders exceeding the same time period of 2008 and silver sales expected to double first quarter 2008 figures.
Itronics is expecting that total sales could increase by 30 percent in the first quarter with the growth being driven by a large increase in silver sales. Receipts of spent photographic liquids for recycling into GOLD'n GRO fertilizers increased by 15 percent in the fourth quarter and that increase is continuing in the first quarter, ensuring adequate supply for fertilizer manufacturing. First quarter fertilizer sales, although strong so far, may be affected by drought conditions in the California market. GOLD'n GRO Guardian will be introduced to the landscape maintenance companies in the Northeast United States during the second quarter and is expected to make a major contribution to on-going sales growth.
What They Do: Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant in the United States that converts spent photoliquids into pure silver and GOLD'n GRO liquid fertilizers.
Sierra Vista Bank (OTCBB: SVBA) Closed at $7.00. Announced Friday after market close record growth in 2008. Sierra Vista Bank ended 2008 with $69.5 million in total assets, an increase of $40.1 million or 136% over 12/31/07 total assets of $29.4 million. Year end 2008 deposits totaled $54.7 million, an increase of $38.3 million or 234%, over the 12/31/07 total deposits of $16.4 million. Year end loans totaled $48.9 million, an increase of $30.6 million or 167% over 12/31/07 loans of $18.3 million.
What They Do: Sierra Vista Bank is a locally owned community bank headquartered at 1710 Prairie City Road in Folsom, since March 2007, with a second branch opened in Cameron Park in Nov 2008. The Bank prides itself on serving the financial needs of small businesses and professionals in Folsom and throughout the Highway 50 Corridor and is committed to community philanthropy.
How They Trade: SVBA has a 52 week high of $1.62 and a 52 week low of $0.89.
About SmallCapReview
Copyright SmallCapReview. SmallCapReview.com has been a leading site for news on small-cap stocks since 1999. SmallCapReview has built a loyal opt-in following for their investor products by providing a newsletter at no cost, sent to subscribers, highlighting select small-cap stocks, to register visit http://www.smallcapreview.com/subscribe.htm. SmallCapReview has been compensated six thousand dollars by a third party for its efforts in presenting the AM Oil Resources & Technology profile.
