- Company has acquired 1,312 additional acres adjacent to its Asphalt Ridge heavy oil extraction facility in Utah
- Acquisition brings company’s total contingent resources to 2,541 leased acres and 87.49 million barrels of mineable oil sands
- Full production at Asphalt Ridge is slated for 2019
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) (FRANKFURT: A2DYWC), a fully integrated oil and gas company focused on developing and implementing a proprietary new oil extraction technology, has announced the acquisition of additional acreage in Utah’s resource-abundant Uintah Basin.
At auction, Petroteq finalized the acquisition of a 100 percent interest in two leases totaling 1,312 acres adjacent to its Asphalt Ridge heavy oil extraction facility, located near Vernal, Utah. According to a recent Chapman report…
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