Oil Prices are Expected to Rise Even as Production Ramps Up

NEW YORK, June 19, 2018 /PRNewswire/ --

Despite the recent downturn in oil prices, Goldman Sachs remains optimistic. According to Reuters, Goldman Sachs on Monday forecast a tighter oil market for a longer duration due to strong demand growth and the probability that rising supply disruptions could counter any increase in OPEC production. "Our updated global supply-demand balance continues to point to further declines in inventories and higher oil prices in 2H18," the bank said. Goldman also repeated its Brent price forecast for a peak of USD 82.50 per barrel throughout the summer and a year-end approximation of USD 75. Water Technologies International, Inc. (OTC: WTII), Liquefied Natural Gas Limited (OTC: LNGLF), Amazing Energy Oil and Gas, Co. (OTC: AMAZ), Petrolia Energy Corporation (OTC: BBLS), Stamper Oil and Gas Corp. (OTC: STMGF)

The avalanche of political and economic developments around the world that influence oil prices are making it difficult to determine what the relationship between demand and supply will be. Goldman Sachs explained in the report that they expect OPEC and Russia production to increase by 1 Million barrels per day by the end of 2018 and by another half a million barrels per day in the first half of 2019. While a production increase would decrease oil prices, the supply numbers are expected to be offset by increased political and economic disruptions in Venezuela and Iran.  

Water Technologies International, Inc. (OTC: WTII) on May 30th announced that "it has signed a Licensing agreement with OriginClear, Inc., of Los Angeles, California. OriginClear, Inc. engages in the business of developing, manufacturing and marketing industry-leading products and services in wastewater treatment and water remediation for the oil and gas, algae, and feed industries as well as others rejecting or using large volumes of water. The agreement licenses the technology and allows Water Technologies International, Inc. to sell the equipment for use in the industry. Water Technologies plans to employ the product in existing client projects and will also target clients for water generation equipment with its patented Atmospheric Water Generators.

The United Nations estimates that by 2030, water demand will exceed supply by 40 percent. By combining OriginClear's Electro Water Separation (EWS) wastewater treatment technology with Water Technologies' Atmospheric Water Generators, oil & gas operators facing water scarcity can regain control of their water resources and build water independence for their organization.

Water Technologies International, Inc.'s CEO, William Scott Tudor, said, "I am excited to have OriginClear's new, unique wastewater treatment technology for use in oil & gas industry projects. We can now provide new products and services to oil & gas clients and offer onsite solutions that can clean and remediate contaminated water as well as generate clean water resources with our Atmospheric Water Generators. This partnership opens up an entirely new audience for our many products and should lead to more sales for both companies."

OriginClear, Inc's CEO Riggs said, "The whole team at OriginClear is very enthusiastic about entering into this new relationship with Water Technologies. Offering these cutting-edge products to their client base is very exciting and we look forward to being at the forefront of cutting-edge water treatment technology."

Liquefied Natural Gas Limited (OTC: LNGLF) is an ASX listed company (Code: LNG and OTC ADR: LNGLY) whose portfolio consists of various subsidies. Liquefied Natural Gas Limited recently extended the validity period of its current binding engineering, procurement, and construction contract with KSJV for its 100% owned subsidiary, Magnolia LNG, LLC. The binding lump sum turnkey EPC US USD 4.354 Billion contract is now valid through December 31, 2018. Magnolia LNG is well positioned to lead the next generation of U.S. LNG export reflecting its fully de-risked status. Magnolia is the lone U.S. greenfield LNG export development project that is construction-ready, having secured equity financing, FERC Notice to Proceed, U.S. Department of Energy non-FTA and FTA export approval, and a LSTK EPC contract.

Amazing Energy Oil and Gas, Co. (OTCQX: AMAZ) is an independent oil and gas exploration and production company based in Amarillo, TX. Amazing Energy Oil and Gas Co. recently announced the scheduled chemical squeeze program around the outer perimeter of Section 91 where the Company previously initiated drilling, completion and production operations. The program is scheduled to begin soon. The chemical squeeze program should allow for improved fluid entry on existing wells targeting the Queen formation. ''Operational activity is on pace and we are very encouraged by the results we are seeing across the board,'' stated Will McAndrew, Amazing's CEO. ''We are excited to report recent results and future plans to the street as we meet expectations previously set and outline what we are doing now to move our growth initiative forward. Transparency and consistency in communication are an important part of Amazing's plan and combined with effective execution on operations have set our value proposition in motion.''

Petrolia Energy Corporation (OTCQB: BBLS) is a US-based, oil & gas exploration, production and service company with operations in the United States and Indonesia. The Company announced late last year that it has completed the acquisition of Bow Energy Ltd., a Canadian based oil and natural gas company, pursuant to which Petrolia has acquired all of the issued and outstanding common shares in the capital of Bow. The Plan of Arrangement was approved by an overwhelming majority of more than 99% of the votes cast by the Bow's shareholders at the special meeting of shareholders held on February 21, 2018. Final approval of the Plan of Arrangement was granted by the Court of Queen's Bench of Alberta on February 23, 2018, and the acquisition closed on February 27, 2018. Upon completion of the acquisition, James E. Burns, the President of Petrolia commented, "While we remain focused on developing our onshore domestic portfolio here in the United States, the Indonesian assets are truly special. Being able to find an acreage package of this size and quality was just too good to pass up. We are looking forward to continuing our discussions with local financial and operating partners in the region to strategize on how best to commercialize these assets over the long-term."

Stamper Oil and Gas Corp. (OTCQB: STMGF) is an oil and gas company, engaged in the acquisition, exploration and development of conventional oil and natural gas properties. The Company plans to identify and build out a portfolio of high-impact oil and gas prospects. Stamper is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets. Stamper Oil & Gas Corp. recently announced the resignation of Hon. Herb Dhaliwal as a Director of Stamper effective immediately. At this time the Company will remain with a vacancy on the board until a suitable replacement is found. State Oil Corporation has also advised that the Memorandum of Understanding between State and Sudapet Company Ltd., the national oil company of Sudan, is still not in good standing. The Company has been advised by State that they are in discussions with Sudapet and have been told that definitive decision should be received during the following week. The Company is also working hard at this time on evaluating other oil and gas projects in Latin America and Africa.

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