PCT LTD signs memorandum of understanding with international energy company providing cash infusion
June 10, 2022
LITTLE RIVER, SC – PCT LTD (OTC Pink: PCTL). Paradigm Convergence Technologies Corporation announced that it has signed a Memorandum of Understanding (MOU) with LeadGreen Energy Services Limited.
LeadGreen Energy Services Limited, an IADC member company, offers integrated services to the oil and gas industry in Nigeria, an OPEC member country. Services offered include procurement, drilling services, filtration service, consulting and training, and logistical support.
LeadGreen Energy Services Limited will provide a cash investment for the purpose of drilling a 7-spot pattern in the Grassy Creek, Missouri formation to be drilled and operated by Maverick Energy Services. The drilling will provide further demonstration and validation of Enhanced Oil Recovery methods utilizing PCT’s fluids and processes. Upon completion, likely during the next 60 days, the company can begin to finalize previous efforts with multiple energy companies to start initiating the Oil Recovery Process. This will commence large-scale revenue streams for PCT.
As a result of the cash infusion, LeadGreen Energy Services Limited will acquire the rights to utilize, market and distribute PCT’s Enhanced Oil Recovery technology and methodology for use in LeadGreen’s oil recovery projects in other areas of the world should they choose.
“We believe our pipeline for equipment is real and growing. We also believe the Oil & Gas and Agriculture Divisions will contribute significant revenues in the fourth quarter. Our forecasts call for $5-$10 million in revenue for just the Oil and Gas business over the next twelve months. While it has taken a significant amount of time to reach this point, we can now start to monetize this business very rapidly,” commented CEO Gary Greico.
– BUSINESS WIRE
About PCT LTD
PCT LTD (“PCTL”) focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
