By Ian Gilson, CFA
OriginOil (OTC Markets:OOIL)
announced on September 12, 2012 that it intends to license its proprietary Clean-Frac process for cleaning oil/gas/solids/water mixtures generated in the fracking process used to break oil shale structures. A non-exclusive license will allow a licensee to integrate Origin Oil's technology into its own brand clean-up systems and pay OriginOil a royalty based on a share of the revenues.
The company has a prospective licensee that has done a significant amount of design work integrating the clean-up systems and has received very positive feedback from potential customers. This type of business may be the largest generator of revenue to OriginOil since the potential market for such systems could approach a trillion dollars per year.
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