Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), an oil and gas industry technology innovator, today announced its entry into a non-exclusive technology licensing agreement with Katy, Texas-based Valkor LLC (www.Valkor-Offshore.com). According to the update, the agreement grants Valkor the right to use Petroteq’s proprietary patented technology to construct, operate and finance oil sands extraction plants to transform mining operations-recovered highly oil saturated feed ore to heavy crude. “Technology advancement in unlocking the enormous deposits of global oil reserves has been our focus in achieving energy independence and economic expansion,” Petroteq CEO David Sealock said in the news release, “and Petroteq’s CORT (Clean Oil Recovery Technology) is a primary key to develop the tremendous surface mineable oil sands resources in the USA and internationally. Petroteq’s technology has the potential to open these resources to new development opportunities and with this should come tremendous value potential.”
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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 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. The company’s 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 and processing facility located near Vernal, Utah. For more information, visit the company’s website at www.Petroteq.energy.
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