|By Marketwired .||
|July 11, 2014 03:45 PM EDT||
SHORT HILLS, NJ -- (Marketwired) -- 07/11/14 -- Intrepid Energy, an Umbra Applied Technologies Group company (OTC: UATG), is now a licensed oil and gas producer in the state of Kansas. The company is targeting the Mississippi Lime Formation in its first step in a comprehensive energy initiative. Chairman and CEO Alex Umbra, offered, "Today's announcement is just the first step in our long term plan to integrate green energy with traditional energy sources. We have begun the process to create an 'energy farm' that will integrate our clean energy platforms with conventional oil and gas reclamation operations. UATG is proud to contribute in no small way to American energy independence."
Mr. Umbra commented further that, "Kansas was selected for the company's energy campaign because of its total energy potential, not just the farming of traditional hydrocarbons." Intrepid Energy will be coordinating its oil & gas operations with its sister company, Umbra Applied Technologies, Inc. (UAT), which will be installing green energy technologies on Intrepid Energy properties. UAT's Helix wind turbine will be the first green energy technology to partner with Intrepid. The State of Kansas has the second highest wind energy potential in the United States, according to the American Wind Energy Association.
CEO of Intrepid Energy, Justin Herman, stated, "If we compare southeastern Kansas to the Bakken of North Dakota or to the Marcellus Shale, its formation depth is significantly less. The drilling and completion costs are much lower in our area. We believe Kansas is ideal in terms of return of investment for oil & gas production and to introduce the green technologies from UAT."
About Intrepid Innovations Corporation
Intrepid Innovations Corporation is a member of the Umbra Applied Technologies Group (OTC: UATG) family of companies. Intrepid Innovations is a diversified technologies company with holdings in alternative energies, natural resource exploration, and medical technologies.
About Umbra Applied Technologies Group, Inc.
Umbra Applied Technologies Group, Inc. is a diversified, leading edge technology company with an intrepid vision in the fields of alternative energy, conventional energy, medical innovation, environmental remediation, weaponry, and compound recognition technologies which are marketed toward homeland security.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Umbra Applied Technologies Group, Inc.