Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), a fully integrated, surface oil-sands, clean-recovery mining oil company with proprietary technology, recently resumed production at its eastern Utah Asphalt Ridge facility following upgrades to improve its equipment’s ability to separate coarse sands and extract fluids, and then return the cleaned sands to the ground. An article discussing the company reads, “Using CORT, Petroteq began scaling production last year and selling oil to regional markets as evidence of its technology’s effectiveness. The company was producing heavy oil with the closed loop system, but it curtailed the operation in May to begin a maintenance program that improves the processes of separating the resource sands, extracting fluids from them with a solvent emulsifier and cleansing the sands through distillation. . . . ‘The technology enhancements completed in the last several months are expected to provide the company the foundation to consistently increase production to its productive capacity in a step wise approach, and potentially enhance cash flow in what is currently a much more favorable pricing environment,’ CEO David Sealock stated in a recent news release (http://nnw.fm/ZsFh6). ‘The strengthening of our balance sheet, consistent production and cash flow remains our top priority.’”
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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 nearly zero greenhouse gas and 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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