On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Resumes Clean Oil Recovery Technology (CORT) Extraction Following Facility Upgrades

  • Petroteq Energy is a technology developer for the oil and gas industry, concentrating on the ability of its flagship Clean Oil Recovery Technology (CORT) to draw and distill heavy oil from surface oil sands
  • The company recently resumed operations at its eastern Utah facility following a period of maintenance to improve its equipment’s ability to separate coarse sands, extract fluids and then return the cleaned sands to the ground

Oil and gas industry technology pioneer Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) has resumed production at its eastern Utah Asphalt Ridge facility, where the company’s disruptive Clean Oil Recovery Technology (CORT) was developed for extracting heavy oils from ground surface oil sands in an environmentally safe manner.

Using CORT, Petroteq began scaling production last year and selling oil to regional markets as evidence of its technology’s effectiveness. The company was producing heavy oil with the closed loop system, but it curtailed the operation in May to begin a maintenance program that improves the processes of separating the resource sands, extracting fluids from them with a solvent emulsifier and cleansing the sands through distillation.

“The technology enhancements completed in the last several months are expected to provide the company the foundation to consistently increase production to its productive capacity in a step wise approach, and potentially enhance cash flow in what is currently a much more favorable pricing environment,” CEO David Sealock stated in a recent news release (http://ibn.fm/FhU52). “The strengthening of our balance sheet, consistent production and cash flow remains our top priority.”

The recent modifications help the company to overcome difficulties posed by the desert sands’ coarseness on the Asphalt Ridge facility’s operations, allowing the company to potentially process more oil sands ore per day with a quality that’s more suitable to the local refineries.

“Petroteq and our strategic partners are very excited about the potential future of this technology as the first in Utah and the USA to commercially produce surface oil sands reserves”, Executive Chairman Alex Blyumkin stated in the news release. “The work that has been completed to evolve Petroteq’s environmentally friendly… technology, from a batch process to semi-continuous production process, is the basis of many valuable design lessons learned through the improvement process. The Operations and Engineering staff should be commended for the advances made and implementation in a difficult operating environment.”

The company plans a conference call in December to review its operating results and will provide the date and time, as well as the North American toll-free number and international call number, next month.

The company also continues to improve its financial bottom line by reducing its debt, issuing shares subscriptions and pursuing private placement funding (http://ibn.fm/i1nHh).

Petroteq approved its first non-exclusive licensing agreement in July, granting eastern Texas energy services company Valkor LLC the right to use CORT to engineer, construct, operate and finance oil sands extraction and distillation at Valkor’s bases of operation (http://ibn.fm/bCopM).

For more information, visit the company’s website at www.Petroteq.energy

NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at  http://ibn.fm/PQEFF

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.

QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php

Archives

Select A Month
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007
  • July 2007
  • June 2007
  • May 2007
  • April 2007
  • March 2007
  • February 2007
  • January 2007
  • December 2006
  • November 2006
  • October 2006
  • September 2006
  • August 2006
  • July 2006
  • June 2006
  • May 2006
  • April 2006
  • March 2006
  • January 2006
  • December 2005
  • October 2005
  • September 2005
  • Market Basics

    New to the micro-cap markets?Get answers to your questions about investing in Small-Cap / Micro-Cap Stocks and learn how to protect yourself.

    The Basics

    Newsletter Publishers

    Have an up and coming newsletter and want to be included in our coverage list? Looking to get more coverage and grow subscriptions? Register for coverage.

    Register

    Public Companies

    Are you a Small-Cap / Micro-Cap company looking for coverage? We'd love to hear from you. Fill out our quick contact form or send us a text.

    Get Covered