Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning issued an investor update regarding the company’s progress at its Asphalt Ridge heavy oil extraction facility. “Petroteq has taken major strides in developing technology to transform Utah’s oil-rich resources to energy,” David Sealock, CEO of Petroteq, stated in the news release. “We expect the Phase 2 – 1,000 BOD/day expansion of the Asphalt Ridge heavy oil extraction facility to demonstrate the multi-decade production commercial viability of the Company’s patented and unique technology. As the team finalizes our construction work packages and implements a five-stage commissioning and startup process, we are on target to transfer the facility to production operations in May.”
To view the full press release, visit: http://nnw.fm/ToBk3
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. The Company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. 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 www.Petroteq.energy and www.PetroBLOQ.com
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