15:24:51 EDT Sat 18 May 2024
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or Name
USA
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Cleango Innovations Inc (3)
Symbol CGII
Shares Issued 3,582,197
Close 2023-08-15 C$ 0.50
Market Cap C$ 1,791,099
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Cleango cheers CS-100 EOR blend success in Texas well

2023-08-17 11:45 ET - News Release

Mr. Anthony Sarvucci reports

CLEANGO INNOVATIONS IS PROUD TO SHARE THE RESULTS OF THE PREVIOUSLY ANOUNCED TREATMENT ON THE OIL WELL LOCATED NORTH OF FORT WORTH TEXAS

Cleango Innovations Inc. has provided an update to the previously released news dated July 10, 2023, regarding its downhole oil and gas application and deployment of 14,000 litres of Cleango's proprietary solution. Cleango industrial is proud to report that the introduction of the CS-100 enhanced oil recovery solution to the well located in the north Texas area of Denton (just outside of Fort Worth) has resulted in the production of oil for the first time since the new reservoir was completed.

The CG-100 enhanced oil recovery blend was pumped into a carbonate reservoir at a depth of 7,720 feet and a bottom hole temperature of 177 F. During the zonal completion, previous drilling contaminants and a heavy sludge hindered inflow, due to plugged perforations and a damaged formation. The Cleango CG-100 blend was pumped downhole to clean and restimulate the reservoir, to cure the formation damage and unplug the perforations. Following a soak period, the well was put on pump.

After eight days, the reservoir that failed to produce hydrocarbons prior to the treatment started to produce both oil and gas. The CG-100 proprietary solution was successful in turning a previously damaged formation into a viable and economic reservoir.

"This development helps to solidify our impact on the industrial applications of our proprietary industrial blends, and adds significant value to our industrial model and our company as a whole," stated Anthony Sarvucci, chief executive officer of Cleango Innovations. "By replacing the toxic chemicals currently used in the oil and gas space with our proprietary green and environmentally friendly products, this is a win for both Cleango Innovations, and oil and gas companies as a whole."

About Cleango Innovations Inc.

Cleango is an international, publicly traded company that specializes in the development of early-staged, green, non-toxic and sustainable products used in retail, commercial and industrial applications.

The company is proud of its suite of proprietary, Green Seal-certified non-toxic green products that are Health Canada approved to claim the disinfecting of 99.9 per cent of viruses and bacteria on a hard surface. Cleango's portfolio is proud to be a part of cruelty-free leaping bunny as a certified product while being both family and pet safe. It is Cleango's mission to create the world's leading non-toxic, green solutions for the world's cleaning problems.

Cleango's experienced team brings new ideas and innovation based on science to find solutions to the problems of the current world. Customers rely on quality, non-toxic products to keep their homes clean and their loved ones safe.

We seek Safe Harbor.

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