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Vivakor Signs MOU to Acquire Oil Sands Designated Leased Property in Utah

05-Mar-2015 | Source : AG-IP News | Visits : 4261
IRVINE, CA  - Vivakor Inc. (VIVK) announced it has signed a Memorandum of Understanding (MOU) with Blackrock Enterprises, Inc. for acquisition of land in the Asphalt Ridge area in Vernal, Utah. The Company declared that the ability to operate in the designated rich oil sands area in Uintah County provides Vivakor another major technological advantage in extracting high demand natural resources from the Utah Oil Sands.
 
The Company has been testing for the past six (6) months a clean, environmentally responsible and fully scalable operations model utilizing a proprietary oil extraction catalyst that is unique to the industry. The Company is focused on natural resources in specific areas where there is a sizable advantage to utilizing Vivakor's technology and methodology for extraction of oil from the Utah sands. Vivakor's Chairman and CEO Matt Nicosia expressed, "the recent acquisition of the Intellectual Property and this MOU with Blackrock provides our company with a distinct competitive advantage as we continue to drive growth and value for our shareholders. Our test results are extremely exciting, and as such Vivakor has expressed its intent to acquire the land in the designated oil sands area of Eastern Utah as we move to the next phase in our plan."
 
Vivakor's intellectual properties are proprietary and proving industry disruptive with a low cost basis in their operations in the natural resource space. 
 
Vivakor, Inc. (VIVK) is an Asset Acquisition company that develops and acquires resources that generate revenue currently or in the near term. The Company acquires technologies and assets primarily in the field of Natural Resources. 
 
 
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