About Us
PetroStrata Corporation (a wholly-owned subsidiary of Drayton Richdale Corporation), is primarily engaged in the business of exploiting cutting edge processes and technologies for the petroleum industry for profit. PetroStrata acquires and utilizes patented technologically advanced methods for our oil and gas projects. PetroStrata is currently working on the development and application of the PetroMicronic Technology and Process (a Company Trade Secret)* with Savant Scientific Group for the extraction of oil from shale ore (aka: Oil Shale).
About Oil Shale
Oil shale deposits are sedimentary rock that contains solid bituminous materials known as kerogen, that are released as petroleum-like liquids when the rock is heated in the previously designed chemical process of pyrolysis (This process is somewhat antiquated compared to our PetroMicronic Technology & Process). Oil shale was formed millions of years ago by deposition of silt and organic debris on lakebeds and sea bottoms. Over long periods of time, heat and pressure transformed the materials into oil shale in a process similar to the process that forms oil; however, the heat and pressure were not as great. Oil shale generally contains enough oil that it will burn without any additional processing, and it is known as "the rock that burns".
Oil shale can be mined and processed to generate oil similar to oil pumped from conventional oil wells. Although, current technology for extracting oil from oil shale is more complex than conventional oil recovery and currently is more expensive, our PetroMicronic Technology & Process is cost effective, efficient and environmentally sensitive. The oil substances in oil shale are solid and cannot be pumped directly out of the ground. The oil shale must first be mined and then heated to a high temperature (a process called retorting); the resultant liquid must then be separated and collected.
Oil Shale Resources
While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.
More than 70% of the total oil shale acreage in the Green River Formation, including the richest and thickest oil shale deposits, is under federally owned and managed lands. Thus, the federal government directly controls access to the most commercially attractive portions of the oil shale resource base. **
The Oil Shale Industry While oil shale has been used as fuel and as a source of oil in small quantities for many years, few countries currently produce oil from oil shale on a significant commercial level. Many countries do not have significant oil shale resources, but in those countries that do have significant oil shale resources, the oil shale industry has not developed because historically, the cost of oil derived from oil shale has been significantly higher than conventional pumped oil. The lack of commercial viability of oil shale-derived oil has in turn inhibited the development of better technologies that might reduce its cost.
Relatively high prices for conventional oil in the 1970s and 1980s stimulated interest and some development of better oil shale technology, but oil prices eventually fell, and major research and development activities largely ceased. More recently, prices for crude oil have again risen to levels that may make oil shale-based oil production commercially viable, and both governments and industry are interested in pursuing the development of oil shale as an alternative to conventional oil.
Since the company does not intend to sell and/or license the PetroMicronic Process & Technology, it is in the best interest of the company to hold PetroMicronic as a “Company Trade Secret”
On June 15, 2011, PetroStrata Corporation, a wholly owned subsidiary of Drayton Richdale Corporation, executed a Joint Venture Agreement with Estes Development Corporation, a coal producer from the State of West Virginia.
Under the terms and conditions in the Agreement, PetroStrata will build and operate a 20,000 sq.ft. Shale Oil Extraction on 40 acres near Rock Springs, Wyoming (is within the Green River Formation) and another 20,000 sq.ft. Coal Oil Extraction Facility on 50 acres tentatively planned for Illinois. PetroStrata will utilize its cost effective, proprietary and environmentally friendly PetroMicronic Reactor at both location to extract crude oil and coal oil respectively. The development cost for the Rock Springs site estimated to be $36 Million and the Illinois site is projected to be $24 Million. The completed plant in Rock Springs is expected to produce 4,800/bbls/day of crude oil. In projecting a market value of $82.00/bbl, Rock Springs will generate $81 Million annual net revenue before taxes. The Illinois facility is projected to produce 5,700/bbls/day of coal oil and the net annual revenue over $107 Million.
The facilities will be operating 24 hrs./day, 328 days/year and will employ 75 to 100 individuals at each location. The extractions plants are scheduled to be operating at full capacity within 24-30 months from ground breaking. Through a contractual supply of coal/ore inventory, along with hard assets, the joint venture has increased Drayton Richdale Corporations net worth to exceed $320 Million.
The company will now proceed with raising capital through the issuance of a $30 Million to $60 Million Convertible Debenture over 5 years, with a face value of eight (8) percent (%) interest per annum for the construction and operation of the Shale Oil Extraction Plant in Wyoming and Coal Oil Extraction Plant in Illinois. The conversion strike point is under analysis and currently projected between $2 - 3 / Share. Due to the expected high revenue stream of the project, the company may only need, $30 Million for the Shale Oil Extraction Plant and then proceed and complete the Coal Oil Extraction Plant with cash flow from operations.
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* Trade Secret: A “trade secret” as protected from misappropriation, may consist of any formula, pattern, devise complication of information which is used in one’s business, which gives person an opportunity to obtain an advantage over competitors who do not know or use it; or it maybe a formula or a chemical compound, a process of manufacturing, treating or preserving materials, a pattern for a machine or other device, or a list of customers. Cherne Indus., Inc. v. Grounds & Associates Inc., 278 M.W.2d 81, 89, 90; Kodekey Electronics, inc. v. Mechanex Corp., C.A. Colo., 486 F.2d 449, 455.
A plan or process, tool, mechanism or compound known only to its owner and those of his employees to whom it is necessary to confide it. A secret formula or process not patented, but known only to certain individuals using it in compounding some article of trade having a commercial value. Palin Mfg., Inc. v. Water Technology, Inc. 103 lll.App3d 926,59 lll.Dec 553,431 N.E.2nd 1310, 1314. Black’s Law Dictionary, 6th Edition.
** Excerpt from The Oil Shale and Tar Sands Programmatic Environmental Impact Statement
About Oil Shale
Oil shale deposits are sedimentary rock that contains solid bituminous materials known as kerogen, that are released as petroleum-like liquids when the rock is heated in the previously designed chemical process of pyrolysis (This process is somewhat antiquated compared to our PetroMicronic Technology & Process). Oil shale was formed millions of years ago by deposition of silt and organic debris on lakebeds and sea bottoms. Over long periods of time, heat and pressure transformed the materials into oil shale in a process similar to the process that forms oil; however, the heat and pressure were not as great. Oil shale generally contains enough oil that it will burn without any additional processing, and it is known as "the rock that burns".
Oil shale can be mined and processed to generate oil similar to oil pumped from conventional oil wells. Although, current technology for extracting oil from oil shale is more complex than conventional oil recovery and currently is more expensive, our PetroMicronic Technology & Process is cost effective, efficient and environmentally sensitive. The oil substances in oil shale are solid and cannot be pumped directly out of the ground. The oil shale must first be mined and then heated to a high temperature (a process called retorting); the resultant liquid must then be separated and collected.
Oil Shale Resources
While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.
More than 70% of the total oil shale acreage in the Green River Formation, including the richest and thickest oil shale deposits, is under federally owned and managed lands. Thus, the federal government directly controls access to the most commercially attractive portions of the oil shale resource base. **
The Oil Shale Industry While oil shale has been used as fuel and as a source of oil in small quantities for many years, few countries currently produce oil from oil shale on a significant commercial level. Many countries do not have significant oil shale resources, but in those countries that do have significant oil shale resources, the oil shale industry has not developed because historically, the cost of oil derived from oil shale has been significantly higher than conventional pumped oil. The lack of commercial viability of oil shale-derived oil has in turn inhibited the development of better technologies that might reduce its cost.
Relatively high prices for conventional oil in the 1970s and 1980s stimulated interest and some development of better oil shale technology, but oil prices eventually fell, and major research and development activities largely ceased. More recently, prices for crude oil have again risen to levels that may make oil shale-based oil production commercially viable, and both governments and industry are interested in pursuing the development of oil shale as an alternative to conventional oil.
Since the company does not intend to sell and/or license the PetroMicronic Process & Technology, it is in the best interest of the company to hold PetroMicronic as a “Company Trade Secret”
On June 15, 2011, PetroStrata Corporation, a wholly owned subsidiary of Drayton Richdale Corporation, executed a Joint Venture Agreement with Estes Development Corporation, a coal producer from the State of West Virginia.
Under the terms and conditions in the Agreement, PetroStrata will build and operate a 20,000 sq.ft. Shale Oil Extraction on 40 acres near Rock Springs, Wyoming (is within the Green River Formation) and another 20,000 sq.ft. Coal Oil Extraction Facility on 50 acres tentatively planned for Illinois. PetroStrata will utilize its cost effective, proprietary and environmentally friendly PetroMicronic Reactor at both location to extract crude oil and coal oil respectively. The development cost for the Rock Springs site estimated to be $36 Million and the Illinois site is projected to be $24 Million. The completed plant in Rock Springs is expected to produce 4,800/bbls/day of crude oil. In projecting a market value of $82.00/bbl, Rock Springs will generate $81 Million annual net revenue before taxes. The Illinois facility is projected to produce 5,700/bbls/day of coal oil and the net annual revenue over $107 Million.
The facilities will be operating 24 hrs./day, 328 days/year and will employ 75 to 100 individuals at each location. The extractions plants are scheduled to be operating at full capacity within 24-30 months from ground breaking. Through a contractual supply of coal/ore inventory, along with hard assets, the joint venture has increased Drayton Richdale Corporations net worth to exceed $320 Million.
The company will now proceed with raising capital through the issuance of a $30 Million to $60 Million Convertible Debenture over 5 years, with a face value of eight (8) percent (%) interest per annum for the construction and operation of the Shale Oil Extraction Plant in Wyoming and Coal Oil Extraction Plant in Illinois. The conversion strike point is under analysis and currently projected between $2 - 3 / Share. Due to the expected high revenue stream of the project, the company may only need, $30 Million for the Shale Oil Extraction Plant and then proceed and complete the Coal Oil Extraction Plant with cash flow from operations.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
* Trade Secret: A “trade secret” as protected from misappropriation, may consist of any formula, pattern, devise complication of information which is used in one’s business, which gives person an opportunity to obtain an advantage over competitors who do not know or use it; or it maybe a formula or a chemical compound, a process of manufacturing, treating or preserving materials, a pattern for a machine or other device, or a list of customers. Cherne Indus., Inc. v. Grounds & Associates Inc., 278 M.W.2d 81, 89, 90; Kodekey Electronics, inc. v. Mechanex Corp., C.A. Colo., 486 F.2d 449, 455.
A plan or process, tool, mechanism or compound known only to its owner and those of his employees to whom it is necessary to confide it. A secret formula or process not patented, but known only to certain individuals using it in compounding some article of trade having a commercial value. Palin Mfg., Inc. v. Water Technology, Inc. 103 lll.App3d 926,59 lll.Dec 553,431 N.E.2nd 1310, 1314. Black’s Law Dictionary, 6th Edition.
** Excerpt from The Oil Shale and Tar Sands Programmatic Environmental Impact Statement