Company Starts Construction on Oil Extracting Equipment

AM Oil Resources & Technology Inc. will begin construction on portable equipment to more efficiently take oil out of the ground, the company announced. The three portable steam systems will be used in California oilfields and are expected to produce $2 million to $6 million in revenues for Valencia-based AM Oil Resources. The company’s technology reduces the viscosity of oil to produce it more efficiently and enhance production in oil wells to make them more profitable, company CEO Anthony K. Miller. “While steam injections in the oil industry are not new, our patented technology provides portability and a low cost of operation not previously available in the industry,” continued Mr. Miller. AM Oil expects to construct between 10 and 20 units in 2009.