CALGARY, Alberta, Feb. 7, 2007 (PRIME NEWSWIRE) -- Tyche Energy Inc. (Other OTC:TYEG) announced today the Company has secured the rights to Hydroslotter in the following states of New Mexico, Oklahoma and in the province of Ontario, Canada. Enthusiastic, Tyche will use this technology on its current properties in Ontario as well as offer the services to related companies such as Biogenerics Limited in areas of Oklahoma and New Mexico.
Tyche Energy will implement its own equipment and act as an independent operator of the technology while drawing on Hydroslotter technologists and experts as needed.
Tyche Management will assess where the technology will be applied to provide for optimum production.
Hydroslotter Corporation's proprietary technology deemed "hydroslotting" increases oil and gas production and extends commercial productivity of oil and gas by 300% to 600%. Hydroslotter's technology is cost effective and provides a high return on investment from the actual re-work of shut-in wells.
Website: www.tycheenergy.com
About Tyche Energy Inc.
Tyche Energy Inc. operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Elgin, Middlesex, Lambton, Kent, and Essex Counties, Ontario. In addition to its main operating focus, the Company is actively exploring projects in the Appalachian and Michigan Basins.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.