Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) recently entered an agreement with Cavitation Technologies (OTCQB: CVAT) (“CTi”) to test ways of enhancing oil yields in the company’s oil sands extraction process. A recent article discussing the new partnership reads: “Under the agreement, Petroteq and CTi will use CTi’s proprietary Nano Reactor System™ to raise the value and yield of oil extracted from oil sands. According to the press release, the technology can influence and alter the chemical and physical composition of certain crude oils and hydrocarbon substances so as to enhance the economic value and yield of refined oils and related hydrocarbon products.”
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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. Petroteq’s 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. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. 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 www.Petroteq.energy and www.PetroBLOQ.com
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