EAST HANOVER, NJ, May 17, 2012 (MARKETWIRE via COMTEX) — Unity Management Group (pinksheets:UYMG), a business resource and service company, today announced that its recently acquired subsidiary, On Track Technologies Solutions Inc., has acquired, and completed building, more than $500,000.00 worth of work over rigs, heavy equipment, service equipment and trade tools.
This will allow On Track Technologies Solutions Inc. to start testing their technology for commercialization. The acquisition of the work over rigs, equipment, and tools strategically positions On Track Technologies Solutions Inc. to capitalize on existing technologies in the oil industry through joint ventures and services for hire with third party companies.
On Track Technologies Solutions Inc. is currently in discussions with producers, companies, and state agencies to develop farm outs, acquisition opportunities, and contracts for fee-based services, which will generate revenue for the company. The equipment should take the company from development phase to commercialization.
President Eddie Schilb of On Track Technologies Solutions Inc. said, “It appears we are at the right place at the right time, with the right equipment and access to technologies to support what appears to be the next big boom; we will be working diligently to capitalize on the opportunity.” He went on to say, “The EOR program is a very hot and exciting area in the oil and gas industry today. The company believes that the technologies it is using and developing during the current boom of EOR, Nitrogen and CO2 treatments with other proprietary chemicals will give On Track Technologies Solutions Inc. an edge over the large number of traditional oil producers and service companies.”
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