Baker Tilly Corporate Finance LLP has been appointed to act as advisors in connection with fundraising for the Enhanced Recovery Systems 4 year the business plan.
The Company requires £2m development capital to create the infrastructure to support the roll-out of Sidox Technology in identified key target markets.
Existing shareholders have been informed by letter of the details of the business plan and the funding requirements and are welcome to contact the Managing Director Bob Pritchard at bob.pritchard@ers-oil.com if they have any questions.
The closing date for notification of interest in new investment in ERS is end of business on 19 February 2010.
5 January 2010
Welcome to our new Chairman David Grassick
ERS would like to welcome our new Chairman of the Board David Grassick. His appointment took effect 15 December 2009 and will be confirmed by Shareholders at the next AGM.
David has over 30 years experience in the international oil industry. Currently CEO of Spinner Energy, a new start up oil & gas company, he is also part time consultant for an international oil company and a private equity firm.
Before this David founded and was Managing Director of Granby Oil & Gas plc. Before this David held senior management roles ant Enterprise Oil Plc.
ERS thanks Sir William Francis, the retiring Chairman, for all the work he had undertaken over the years and for his immense contribution to the company.
10 December 2009
ERS Timeline
1996
•
Development of SIDOX Technology by Professor Anatoly Demakhin
1999
•
Formation of ERS Acquisition of commercial rights to SIDOX Technology by ERS
•
Tests on 21 Russian wells indicating up to 123% increase in yield
2001
•
Paper presented at Royal Society of Chemistry Symposium on 'Chemistry in the Oil Industry' outlining the use of SIDOX Technology
2004
•
Pilot testing of Alderson Wells in Alberta, Canada
2005
•
ERS enters into a JV with International Frontier Resources Corporation (IFRC) forming SIDOX Chemicals Canada Limited (SCC) to exploit SIDOX Technology in Canada
2006
•
Canadian patent granted covering SIDOX Technology
2007
•
Completion of Canadian Alderson field testing of further wells
2008
•
US patent application granted. Successful testing performed on 2 onshore UK wells. Completion of independent report by Corex on the behavior of SIDOX treatments
2009
•
Independent report on results from treatment of Canadian wells showing long term oil gains and reduced well declines. New treatments planned for UK and Canadian wells.
