- Petroteq Energy has been developing a proprietary clean surface oil extraction technology that it expects to revolutionize the fuel industry
- Petroteq recently announced that Texas-based energy engineering services company Valkor has contracted Petroteq’s technology for its extraction plants, paying Petroteq associated royalties
- Petroteq expects the licensing of its technology to become a significant part of its business model
Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) is demonstrating the true potential value of the Clean Oil Recovery Technology (CORT) that it has developed for surface tar sands oil extraction in Utah’s rural eastern desert. The company announced July 2 that it has entered into a non-exclusive technology licensing agreement with eastern Texas energy services company Valkor LLC, marking the first in what Petroteq hopes will become a series of licensing agreements for its technology (http://nnw.fm/zw4JE).
Since last year, Petroteq has been putting its technology to work at the Utah site it leases, aptly named Asphalt Ridge because of the surface bituminous resource located there. The company has been using its CORT, which is a closed-loop system that…
NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at http://nnw.fm/PQEFF
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