Vivakor Signs MOU to Acquire Oil Sands Designated Leased Property in Utah
February 26, 2015
IRVINE, CA--(Marketwired - February 26, 2015) -Vivakor Inc. (VIVK) (OTC PINK: 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.
ABOUT VIVAKOR, INC.
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. Vivakor has several mineral assets that have great value and create cash flow and a long term, diverse revenue stream for the Company. Additionally, the Company has effectively acquired positions in other Green Energy companies. For more information please visit www.vivakor.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified 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. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. 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 are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.