Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), a fully integrated surface oil sands mining oil company with proprietary technology, today announced the August 15, 2019 completion of Stage 1 laboratory testing with the oil sands samples provided by a separate Asian energy firm using its CORT. Per the update, preliminary Stage 1 test results demonstrated that Petroteq’s proprietary technology was able to recover a maximum oil content of approximately 20 percent saturation, with results that approach over 90 percent yield of heavy oil from the supplied surface minable heavy oil project samples. “While our primary focus is on completing the Asphalt Ridge facility maintenance program and planned equipment modifications to the sand separation process, fluid extraction process, and the clean sand production process, this month,” Petroteq CEO David Sealock said in the news release, “we are pleased with the advancements in potential future technology licensing opportunities for Petroteq’s CORT for QEM’s Julia Creek project and the additional Asian sands project. Petroteq’s CTO Dr. Vladimir Podlipskiy’s hard work and testing has been extremely valuable for Petroteq and the results help to quantify the technical advantages of Petroteq’s proprietary oil extraction solvent technology.”
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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 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, 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
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