Following record sales in 2011, EVTN projects accelerated growth in 2012 as evidenced by expanding opportunities with some of the world's largest corporations. (Previous order pictured above)
These Voraxial® Separators will be installed on a FPSO (FPSO is short for Floating, Production, Storage and Offloading) for an offshore produced water application in South America. EVTN previously shipped multiple Voraxial® Separators to this customer in 2011. EVTN believes there is a high potential for multiple repeat orders over the next several years.
"The customer is pleased with the performance of the Voraxial® and has decided to order additional units for its FPSO," stated John A. DiBella, CEO of EVTN. "The Voraxial® offers the oil industry a cost effective method of processing and treating its wastewater, specifically in its ability to process large volume of liquids with less energy, less space and without any pressure loss." (See slideshow of past South American Oil order)
The South American National Oil Company currently processes several hundred thousand barrels of wastewater per day. Produced water comprises over 98% of the total waste volume generated by the oil and gas industry, making it the largest volume waste stream associated with oil and gas production. Oil reservoirs frequently contain large volumes of water and as oil wells mature, the amount of oil produced from the well decreases while the amount of water needed to be treated increases. The efficient separation of oil from produced water and the environmentally responsible treatment of the remaining water are critical processes in the production of oil. EVTN's Voraxial® Separator offers the industry an economical solution to treat this increasing volume of produced water.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in OTCPK:EVTN over the next 72 hours.
Additional disclosure: it's symbol is evtn.ob not pk. I've been long in this stock for years. An Ihub subscriber posted this EVTN chart youtube-video today:www.youtube.com/watch?v=Qu0rb6nkTc4