Zoloto Resources to Begin Oil and Gas Operations in Ecuador
Jul 19, 2015
OTC Disclosure News Service
Zoloto Resources Ltd (OTC Pink: ZRSCF) with gold milling operations in
Ecuador has entered into agreements to bring advanced oil and gas
recovery technology into Ecuador to enhance flow rates from existing oil
wells, increase initial flow rates in new oil and gas wells and to
increase reservoir recovery rates by as much as 100%. The Company will
acquire interests in existing proven oil reserves as well as participate
in new oil ventures. Applying the new technology to these ventures will
result in improved cash flows despite the reduction of the price of oil
as the flow rates are increased. Also the value of the actual reserves
will be increased by increasing recovery rates by up to 100%.
The Company will continue with its milling operations in Ecuador. Its
mill has the capacity to process 100 tons of ore per day. Current
production is through contract milling with independent miners. In the
second half of 2015 the company is projecting that it will process an
average of 60 tons per day with an average head grade of 6 gms per ton.
This will produce 250 ozs or gold per month or approximately $290,000
per month. This cash flow will be instrumental in allowing the Company
to participate in the oil ventures.
Zoloto Resources Ltd trades in the United States on the OTC Pink under
the symbol “ZRSCF”. For further information, please contact the Company
at (305) 357 2010 or www.zolotomining.com
or investors can find real time quotes and market information for the
Company on www.otcmarkets.com.
NOTE: This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
involving risks and uncertainties. Results, events and performances
could vary from those contemplated. These statements involve risks and
uncertainties which may cause results, expressed or implied, to differ
from predicted outcomes. Risks and uncertainties include but are not
limited to product demand, market competition and Zoloto’s ability to
meet current and future demands. Investors should study and understand
all risks before making an investment decision. Zoloto Resources is not
obligated to publicly release revisions to any forward-looking
statement, to release events or circumstances afterward or to disclose
unanticipated occurrences except as required under applicable law.
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