OGTFOperational Ground Test Facility
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OGTF will likely draw from the California workforce creating various skilled and unskilled jobs.
The agreement executed between Blacksands Pacific and OGTF defines the commercial terms under which Blacksands Pacific through its E & P subsidiary (Blacksands Pacific Energy Holdings LLC including subsidiaries) will participate in the production and development of the Torrance Field and the exploration and development of the leased area covered within the Nevada Prospect (pursuant to the executed Joint Venture "Participation" Agreement, and Operating Agreement(s)) and provides for Blacksands Pacific to acquire 50 per cent mineral rights ownership and working interest in the Torrance field and 50 per cent working interest and mineral rights in the Oil and Gas leases in the other Nevada Prospect.
OGTF is currently evaluating certain California based oil and gas prospects for acquistion and full scale testing of the technology which it believes will react very favorably within certain oil field environments.
This new exploration technology is amazing," said Richard McGill, vice president of OGTF.