Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Sets May Target Date for Commissioning of Asphalt Ridge Heavy Oil Extraction Facility

• Petroteq is in the final stages of Phase 2 – 1,000 BOE/D expansion at its Asphalt Ridge facility in Utah
• Commissioning and start up for the Asphalt Ridge project is slated to begin in May
• Company’s patented heavy oil processing and extraction technologies are environmentally safe and sustainable

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is forging new roads in the oil and gas space with its patented heavy oil processing and extraction technologies. The company recently announced expansion progress at its Asphalt Ridge heavy oil extraction facility, which is located near Vernal, Utah, and which will implement the company’s proprietary extraction technology in converting Utah’s oil-rich resources into energy (http://ibn.fm/pjWlv0).

Since its appointment of new CEO David Sealock, Petroteq has focused on final engineering, procurement and construction at the Asphalt Ridge facility in preparation for commissioning and startup procedures. Commercial operations related to its Phase 2 – 1,000 BOE/D expansion are expected to commence in May. In March, Petroteq announced that all of the plant’s systems were operational, and the company’s focus during these final engineering and construction phases is to integrate all of the facility’s operating functions to work in simultaneous progression.

The company has made significant progress in developing proprietary technology in order to convert the oil-rich resources of Utah into energy. It is anticipated that the Phase 2 expansion at Asphalt Ridge will demonstrate the multi-decade production and commercial capability of Petroteq’s patented technology. As construction work packages are finalized, and a five-stage commissioning and startup process is implemented, the company is on track to transfer commissioning processes to production operations.

The company’s groundbreaking oil extraction technology presents an environmentally safe and sustainable means of extracting heavy oils from oil sands, oil shale deposits and shallow oil deposits. This process produces zero greenhouse gas emissions, creates no waste, utilizes no water and does not require high temperatures or pressures. This continuous-flow, closed-loop technology enables the environment and the oil sands industry to work in harmony rather than opposition.

For more information, visit the company’s website at www.Petroteq.energy

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