LAS VEGAS, NV--(Marketwired - March 14, 2017) - Vivakor Inc. (OTC PINK: VIVK) announced today that it has entered a Letter of Intent (LOI) to acquire Oil Sands property in Vernal, UT that contains an estimated 44 million barrels of oil.
Vivakor would acquire, directly or through one or more wholly-owned subsidiaries, all right, title and interest in and to the assets of the Seller in Vernal, Utah. A due diligence period will ensue enabling the interested parties to establish the viability of the transaction.
Vivakor, Inc. procures and develops revenue producing assets around the world. These holdings include intellectual properties that are proprietary and largely disruptive while centered principally in the natural resources sector. Vivakor is essentially an asset acquisition company focused specifically on energy related projects across the globe, its patented, oil extraction technology and methodology is now operating in a production capacity in Utah. Vivakor offers investors a unique opportunity to participate in a very attractive royalty program for its investors that is based on production and sales of its oil. As a public company, investors can also acquire common stock through the open market.
Unique to the Company is a mobile rapid deployment, global capability for remediation and reclamation of contaminated soil created generally due to oil. The Company has recently signed through one of its subsidiaries VivaRRT, a contract for reclamation and recycling landfill soil in the Middle East. The Company has been working on other initiatives including enhanced oil recovery projects throughout the globe utilizing hi-tech acoustic equipment.
The Company also utilizes a thermal-based technology for extraction of metals from sand based ore in the Southwest US. Since 2013, the Company has effectively captured non-visible precious metals and rare earth minerals through its proprietary technology and method for processing sand-based ore material from one of their many claim sites.
ABOUT VIVAKOR, INC.
For more information please visit www.vivakor.com.
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.