Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) is ramping up its oil extraction in Utah through proprietary technology that could position the company to be an industry leader. A recent article discussing the company reads: “Petroteq expects to be at full extraction during the third quarter of this year and then to quickly increase its 1,000 bpd production to 8,000 bpd within the next three years (http://nnw.fm/8tg4Y). While these production volumes won’t be setting any industry records, the proof of Petroteq’s technology’s viability and ecological friendliness would establish it as the first company to successfully turn out commercially profitable crude in such a fashion, granting it an industry-leading position. The Times notes that other companies have tried for years and that U.S. Oil Sands was the latest to fail when it went bankrupt last year before beginning production.”
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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. 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. 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 the company’s website at www.Petroteq.energy
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