Glori Energy previously operated as a Houston based energy technology and an oil production company that deployed a proprietary technology to increase the amount of oil that can be produced from conventional oil fields which it marketed to third party exploration and production companies. Glori also owned and operated its own oil fields where it deployed its technology. Glori has sold substantially all its assets and has wound down all company operations. In January , the company completed the disposition of its oil and gas assets thereby eliminating its related debt. In March , Glori completed the sale of its intellectual property related to its enhanced oil recovery technology and other assets previously associated with its technology service business. The proceeds were used to satisfy all the company s debt and its obligations to its vendors and suppliers. These transactions result in the termination of continuing operations and any activities. Glori s remaining asset is a net profits interest in an abandoned oil field. There can be no assurance such interest will generate any revenues for the company or have any value. Effective December , all of the company s remaining directors and management resigned.
Quote | Glori Energy Inc (OTCMKTS:GLRIW)
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Last Trade Date Time: | 12/31/1969 07:00:00 pm |
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