PROFERO ENERGY

Profero Energy is focused on recovering proven oil resources not economically recoverable standard production methods or established enhanced oil recovery techniques. Profero has proprietary technology which harnesses the natural process of methanogenesis responsible for the creation of heavy oil. The results in methane being created that can be used to increase reservoir pressure locally or at the reservoir scale. The pressure is used to provoke oil production at higher rates and to recover a ... greater proportion of oil in place. The process can also be used to increased production and recovery rates and/or extend the lifespan of existing producing oil reserves. Globally the estimates of proven but unrecoverable oil resources range between 7.5-11.5 trillion barrels which predominantly made up as follows: Conventional oil Reserves where production is in decline or has already ceased. Reserves that cannot be recovered owing to lack of reservoir pressure. Heavy oil Reserves being produced using cold production techniques. Reserves capable of being brought into cold production. The suitability of a given oil reservoir for the Profero technology depends on key technical parameters. This can be assessed in advance, it is anticipated that a significant proportion of the above reserves will prove suitable. For heavy oil with higher viscosity the Profero technology is anticipated to be used in oil viscosity lowering technologies with which Profero has established relations. The methanogenesis acceleration technology of Profero is based on leading biodegradation research commenced at the University of Newcastle and the University of Calgary.More