SAN DIEGO, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Ziyen Inc., a Scottish-American energy company, files a 253G2 update to Ziyen’s SEC filings for Ziyen Energy Division’s Technical Evaluation Appraisal Report for the Illinois Basin.
The report has been drafted by oil and gas consultants appointed by Ziyen Inc. to provide their professional technical expertise in the plans for the development of the five Illinois basin oil leases which span over hundreds of acres and contain oil reserves estimated to be in excess of $70 million.
Click the link below to view the Technical Evaluation Appraisal Report.
Ziyen Inc 253G2 Offering Circular Technical Evaluation Appraisal Report
Under the leadership of Shane Fraser, Ziyen Inc.’s Energy Division has appointed Maurice Wright and Andrew Stephen as project managers and oil and gas industry specialists for the redevelopment of Ziyen Energy’s oil fields in the Illinois Basin. Both seasoned oil and gas engineers, Mr. Wright and Mr. Stephen bring over 50 years of combined experience working for international oil companies such as Dutch Royal Shell, BP, Conocophillips, TOTAL and various mid-sized oil companies project managing the development of oil fields and implementing new approaches to oil production. In addition to bringing a breadth and depth of experience, they also plan to introduce a power regeneration system on Ziyen Energy’s oil fields allowing for a more sustainable approach to oil production.
The Offering Circular Supplement includes full details of Ziyen Energy’s plans to bring existing wells online and to utilise the latest technology to ensure maximum oil production uptime.
Shane Fraser, Ziyen Energy Director,
“Our strategy at Ziyen Energy is to work with local companies who have been operating in the Illinois Basin but we intend to bring in new technology to improve efficiency and drive down production costs in order to make the marginal fields and US produced oil highly profitable.”
For more information visit: https://www.ziyen.com
About Ziyen Inc.
Founded in 2016, Ziyen Inc. is a Scottish-American company developing cutting edge procurement software to provide clients with industry specific government and private contracts via procurement portals. In 2017, Ziyen diversified, instating the Ziyen Energy Division, with intent to produce oil in the U.S. with advanced extraction methods and technology implemented and guided by career experts in the oil and gas industry. In June 2017, Ziyen acquired the mineral rights to its first oil field in Indiana, and now has five assets. The U.S. Securities and Exchange Commission (SEC) recently qualified Ziyen Inc. in November 2017 for our second round of funding, with a pre-IPO share price of $1.50. More information may be found in its Offering Circular filed with the SEC, or on their website www.ziyen.com
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Forward Looking Statements
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company’s periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the Company on the date of this press release. Ziyen Inc. assumes no obligation to update the information in this press release.
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