The tragic oil spill in the Gulf of Mexico has taxed the imagination of the world at large as well as the know-how of many partners in the petroleum industry and the environmental movement. To solve this massive problem, all hands, to use a naval aphorism, will be needed on deck.
Alberta-based Genoil Incorporated (TSX-Venture:GNO)(OTCBB:GNOLF) has already made its presence felt with its efforts in cleaning up the Gulf spill. On the last day of June came word that this global leader in petroleum technology had been awarded a major patent for its breakthrough sand decontamination technology by the United States Patent Office. The patent recognized the unique positioning of GNOLF in the cleanup.
GNOLF Sand Decontamination Technology is the most agricultural friendly and profitable process to cleanse contaminated sand soil and mud from petroleum spills, using minimal water or sea water and energy consumption. The process claims to reclaim economically almost 100% of oil from waste pits and beaches contaminated by petroleum.
GNOLF was one of the first companies to enter this field a decade ago, and its recently improved patented revolutionary extraction and soil remediation methods are hailed as the most profitable and effective in the world.
This patent is a result of GNOLF’s long-term commitment to environmental technologies offering practical solutions to cleanup environmental disasters. Its sand cleaning units, which are completely portable, are the only units able to reclaim enough contaminants to return the earth to agricultural grade soil meeting the most stringent environmental and agricultural health standards.
GNOLF boasts that it is the most advanced petroleum technology company in the world, with five primary areas of focus; Desulfurization, oil upgrading, water purification technologies, well testing, and sand cleaning.
Through its exclusive alliance with the engineering giant Stone & Webster, a wholly-owned subsidiary of The Shaw Group Inc., GNOLF offers its customers innovative proprietary technological breakthroughs, first-class global engineering, procurement and construction services. With this great advantage, the company is ready to handle any project large or small with unparalleled accuracy and efficiency.
The stock is mired in the middle of a 52-week trading range peaking at 28.8 cents -- a perch it attained last September -- having been as low as 9.5 cents just before Christmas. Volume chugged as high as 1.4 million shares on news of the patent announcement, at a price of 18.8 cents, a jump of more than 34% over the day before. As its name falls more off the lips of petroleum industry watchers, GNOLF could soon be a force to be reckoned with among small cap issues.
