OriginOil (OOIL) Moves Toward Innovation with Latest Announcement
OriginOil (OOIL) has developed a breakthrough water cleanup technology for the oil & gas, algae and other water-intensive industries. Unlike other technologies, the company’s patent-pending Electro Water Separation™ (identified as EWS) process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water, to reduce harm to the environment and lower costs.
It’s been estimated that the process is necessary for almost 80% of all new wells in development and has been used on more than 35,000 wells in the US every year. Most people don’t know it, but the oil and gas industry is one of the most water-intensive industries in the world. It’s both a large consumer of fresh water and a large producer of contaminated water. What happens to all that contaminated water? Well in the past it was “disposed of”; today it’s being recycled. There’ s no easy way to get ride of the toxins in the water until now and with such a large excess of contaminated water simply being considered waste, the potential for companies to step in and help remediate this “waste water” situation grows even more.
In OOIL’s most recent press, the company announced that CLEAN-FRAC™1000, its new demonstration-scale frack water treatment system, was shown to successfully remove oil and contaminants at a showcase for media, public officials and prospective customers. BUT GET THIS, the system is designed to process frac flowback and produce water at a rate of up to 1000 barrels per day (bpd), to the exact purity levels that customers require.
“We were excited to host a very effective demonstration of OriginOil’s flowback cleanup technology, CLEAN-FRAC,” said Bob Isom, CEO of Industrial Systems, Inc. “As the second licensee of OriginOil’s impressive water technology, we have a number of sales opportunities in the pipeline that we believe will accelerate with this tangible proof that OriginOil’s technology really delivers.”
According to the company, OriginOil plans to hold additional showcases throughout the summer to demonstrate the CLEAN-FRAC 1000 to public officials, media and customers, with plans for a grand finale in Houston, Texas.
There’s no denying that OOIL has been on a downward slope for quite some time but let’s face it, some of the best times to catch potential profit is when PPS is low and the upside potential is high. For OriginOil, I’ve noticed that during the past 10 days of trading, OOIL has managed to maintain a lower support level between 0.12 and 0.135. In addition to this and as you’ll see below, the momentum indicators are beginning to rebound in a very aggressive fashion:
After being extremely oversold for the last 2 weeks, OOIL’s RSI has begun to rebound in strong way. Just look at how it is set up following this afternoon’s green close. I believe that Origin Oil may have finally found a bottom and we could be seeing this in the very early stage of a bounce pattern.
OOIL has been on a downtrend for awhile now. In my opinion, it looks like today’s afternoon rally may be kicking up more bullish sentiment in the market. It was less than two months ago where this was trading above $0.20 which is 40+% North of today’s closing PPS.
MACD is right on the cusp of performing a bullish cross-over which in the past has been a strong indicator for a rebirth in upward momentum and explosive gain potential. An early spark in trading tomorrow could be the catalyst for a bottom bounce scenario.
To get the “liquid gold” out of the ground is a big process and OOIL is working to not only make it more efficient but the company is also pushing to become a market leader in the industry!
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