VANCOUVER, June 27 /CNW/ - Tearlach Resources Ltd., (TSX-V: TEA)
www.tearlach.ca to acquire advanced well technology.
VEK-Service Ltd., has agreed to sell the rights and titles of its
intellectual property for advanced oil and gas recovery to Tearlach Resources.
This innovative technology increases recovery in both horizontal and vertical
wells while still remaining extremely cost effective. VEK will receive a 10%
royalty from the net operating revenue generated from commercialization of the
This technology agreement includes data, design, specialized equipment,
and expertise related to the technology as well as the rights for patent
application in the United States and elsewhere world wide. As part of the
agreement, VEK will analyze well bores and formation data provided by the
Company, manufacture and service equipment used in the technology, as well as
manage and supervise work performed while applying the technology.
The Company will employ this newly acquired technology on its oil and gas
properties and lease it to additional oil and gas field producers world wide.
About Tearlach - Tearlach Resources Ltd. is specializing in exploration,
development and exploitation of oil and gas, nickel, natural resources and
alternative energy. The Company utilizes proprietary advanced technologies to
increase productions and create additional reserves and productions in new and
existing fields. By providing licensing and applying proprietary technology
for both the Company's own production and joint venture field development
projects, management anticipates the continuous expansion of its interests in
natural resource properties, production and reserves on a global basis, thus
enhancing its shareholder value by increased corporate revenues.
Tearlach's website can be found at www.tearlach.ca.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
not historical facts and are subject to risks and uncertainties which could
cause actual results and the timing of certain events to differ materially
from those set forth in or implied herein including, without limitation, risks
associated with oil and gas exploration, development and production operations
and other risks, uncertainties and other factors that are beyond the control
of the Company.
The TSX Venture Exchange has not reviewed this News Release and neither
approves nor disapproves of the contents hereof, which remain the sole
responsibility of the Company.
For further information:
For further information: Corporate Communications, Melissa Pelto: (604)
688-5007, Email: email@example.com