Fully integrated, surface-oil sands mining oil company Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) is
continuing to exhibit the potential of its proprietary technology through
licensing and lab testing while performing maintenance and upgrades at its Utah
production site. An article discussing the company reads, “The company halted
operations in order to perform planned equipment re-engineering. The coarseness
of the Utah desert sands interfered with initial efforts to arrive at an
earlier deadline, but the maintenance alterations to the equipment are expected
to decrease the costs of further maintenance in the future and improve the
facility’s efficiency in reaching its production goals. . . . While the
facility upgrade advances toward recommencement of production, Petroteq has
been pressing the advantages of its technology with other companies in the
United States and abroad, approving its first nonexclusive licensing agreement
with Eastern Texas energy services company Valkor LLC in July and completing
demonstrative lab projects for Asian and Australian interests that show the
ability of Petroteq’s technology in recovering oil from tar sands and shale (http://ibn.fm/UDwtL).”
To view the full article, visit http://ibn.fm/ya59I
About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused
on the development and implementation of a new proprietary technology for oil
extraction. Petroteq has an environmentally safe and sustainable technology for
the extraction of heavy oils and bitumen from oil sands, oil-shale deposits and
shallow oil deposits. Petroteq is engaged in the development and implementation
of its patented, environmentally friendly, heavy-oil processing and extraction
technologies. Its proprietary process produces zero greenhouse gas and zero
waste and requires no high temperatures. Petroteq is currently focused on
developing its oil-sands resources and expanding production capacity at its
Asphalt Ridge heavy-oil extraction facility located near Vernal, Utah. For more
information, visit the company’s website at www.Petroteq.energy.
NOTE TO INVESTORS: The latest news and updates
relating to PQEFF are available in the company’s newsroom at http://ibn.fm/PQEFF
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