- Petroteq in final-stage reliability tests prior to launching 1,000 barrels per day production in Utah this month
- Company fully funded for launch operations using proprietary environmentally friendly process
- Company expects to boost extraction to 8,000 barrels per day by 2020 or 2021
- Successful production ramp up would make company the first to commercially produce oil from tar sands
Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FRANKFURT: A2DYWC) is staying busy as it awaits news about its application to uplist from the OTC Market to the Nasdaq Capital Market. The proprietary technology developer for the oil and gas extraction industry is running final-stage reliability tests of its own oil production operation at its Asphalt Ridge facility in Utah, working in excess of 80 percent of its capacity under a revolutionary ecological process as it prepares for full capacity extraction of 1,000 barrels per day by the end of July.
Petroteq Energy is banking on an environmentally friendly process developed by its chief technology officer, Ukrainian chemist Vladimir Podlipskiy, that the company expects to make it…
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