September 27, 2018 - 9:00 AM EDT
Print Email Article Font Down Font Up Charts


NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Commences Commercial Production at Asphalt Ridge Facility; Posts Statement From the CEO

Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), a fully integrated oil and gas company, this morning announced the commencement of commercial production at its Asphalt Ridge plant in Vernal, Utah. Petroteq intends to increase production at the Asphalt Ridge plant at a rate of an additional 10% of total capacity each week until it reaches its target of 1,000 bpd. Transport of the oil off site is subject to the company receiving a business permit, which is expected in the coming weeks.

Additionally, Petroteq published a statement from the company’s CEO, David Sealock. “Our “Asphalt Ridge” asset has (from time to time) caught the attention of major oil companies going back 70 years. But nobody has been able to unlock its resources in a financially sound and environmentally friendly manner until the Petroteq team and its proprietary technology came along. I know our investors have been anxiously waiting for updates about our production levels and they should know that I have been taking a calculated approach in initiating production at our new plant in Vernal, Utah,” Petroteq Energy CEO David Sealock stated in the news release. “I know our partners and stakeholders will welcome the approach I’ve implemented; small batch testing of our facility before running it at its intended full capacity of 1,000 bpd. Petroteq is launching a “first” in the industry and those types of projects require deliberate caution when getting started.”

To view the full press release, visit: http://nnw.fm/H1f2N

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. The Company has an environmentally safe and sustainable technology for the extraction of heavy oils 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. Our proprietary process produces zero greenhouse gas, 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. In addition, the Company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit the company’s website at www.Petroteq.energy

More from NetworkNewsBreaks

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]


Source: NetworkNewsWire (September 27, 2018 - 9:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice