CALGARY, Alberta, May 24, 2019 /CNW/ — Hardie & Kelly Inc., in its capacity as court-appointed receiver (the “Receiver”) of R.I.I. North America Inc. (“RIINA”), is accepting offers for RIINA’s right, title and interest in the registered patents and patent applications in the jurisdictions of Canada, United States and Mexico (the “IP”) associated with an enhanced oil recovery technology, called the solvent thermal resource innovations process (“STRIP), intended to cost-effectively introduce heat and CO2 to oil-bearing formations with a view to increasing the value and extending the life of heavy oil and bitumen reservoirs through improved recovery factors.
The STRIP IP encompasses the following:
A. Method for Initiating Circulation for Steam Assisted Gravity Drainage;
B. Thermal Mobilization of Heavy Hydrocarbon Deposits;
C. Apparatus and Method for Downhole Steam Generation and Enhanced Oil Recovery; and
D. Method for Managing Channeling in Geothermal Recovery of Hydrocarbon Reservoirs.
Interested parties may request a copy of the Receiver’s Tender Package and a non-disclosure agreement (“NDA”) by contacting Marc Kelly at mkelly@insolvency.net. Upon an executed NDA being returned to the Receiver, interested parties will be provided access to the Receiver’s virtual data room.
The deadline for offers is 12 p.m. MDT on June 25, 2019. Sales are subject to approval by the Court of Queen’s Bench of Alberta and the Receiver reserves the right to enter into any sale prior to the deadline and is not obligated to accept the highest, or any, offer.
SOURCE Hardie & Kelly Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2019/24/c3216.html