- The plant will operate at “ramp up capacity” by the end of July
- $3.86 million in new capital raised so far in 2018
- Other research and development projects underway to increase applicability of company’s patented extraction technology
- New advisory board member Heriberto “Eddie” Gonzalez joins team
With full-on oil production scheduled to begin by the end of July, Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FRANKFURT: A2DYWC) has issued an update for investors on the latest developments at its Asphalt Ridge oil extraction facility, as well as other company operations. According to a company press release (http://nnw.fm/Or8Pe), construction has been completed and extraction operations have already begun at Asphalt Ridge in Utah, with plans to ramp up oil extraction and production to full capacity by the end of the month. The facility is expected to yield 1,000 barrels per day at full capacity.
In a news release, Petroteq Chief Executive Office David Sealock said, “The Asphalt Ridge project has surpassed expectations. The facility process trains are coming fully online safely, the production ramp-up plan is on schedule, and the…
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information please visit https://www.NetworkNewsWire.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]