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://nnw.fm/4D3Tj).”
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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. 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.
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