Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Completes Strategic Acquisition to Maximize Company Resources
Petroteq is strategically expanding its oil sands resource through the acquisition of operating rights and interests under U.S. federal oil and gas leases The agreement encompasses 8,480 gross acres in Utah; the new agreement and a previous one will give Petroteq 100 percent operating rights for oil sands development Expert estimates establish a significant oil/bitumen resource at both the Tar Sands Triangle and the P.R. Springs federal oil and gas leases The move is the latest step in what is seen as a potential revolution in the oil industry, using Petroteq’s patented technology to efficiently capture heavy oil that was…