Fully integrated oil and gas company Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) on Thursday announced its achievement of continuous production in excess of 500 barrels a day over the last two weeks. This is a significant milestone for Petroteq, as it demonstrates the commercial viability of its first in kind technology, as well as its disruptive potential, providing the company a competitive advantage and licensing opportunity in the clean extraction of oil sands. One of the first companies to produce oil from Utah’s multi-billion barrel surface bitumen oil sands, Petroteq has the potential to be a leader in the oil sands play in coming years. “I am exceedingly pleased with our performance, it took us a couple of weeks longer than expected due to delays in delivery of equipment by third party vendors,” Petroteq CEO David Sealock stated in the news release.
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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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