Timberlake Energy Solutions is in negotiations to acquire 60% ownership of an oil recovery technology firm that will earn Timberlake carbon credits while accelerating oil production rates.

The acquisition would include the technology and machinery that would be used to inject Co2 gas into the Timberlake's existing oil fields. The technology has been proven to more than double oil production while reducing carbon in accordance with the company's policy of environmental integrity.

In addition the company is currently implementing geological mapping technologies which help identify hidden oil reserves.

"This acquisition will allow Timberlake Energy Solutions to maximize oil extraction from our oil fields in a responsible manner," added Timberlake company president, Bob Bowersock.

Tags: Timberlake Energy Solutions Inc.