"One barrel of U.S. oil produced is one less purchased from OPEC!"

Techlabs is establishing an oil and gas component to its portfolio of operating companies. The Company intends to acquire the first of several leases in Kentucky focusing on capped oil wells abandoned in the mid 1980's when oil traded at $10.00 per barrel and gasoline was below $1.00 per gallon. 

Capped oil wells are those that were in production previously but capped due to the lack of commercial viability at the time of capping. Kentucky has over 163,000 known oil wells spread throughout the state. Most of the wells are low producers, 1-5 barrels per day or were when they were capped in 1985. Oil now priced in the $120-$130 range now make these wells more than viable. Management estimates that these wells are viable to the company and break-even at $55-$60 per barrel.