Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) remains focused on the development and implementation of proprietary technologies for the energy industry. The company intends to expand its oil extraction to over 8,000 barrels per day within three years. A recent article discussing the company reads: “Petroteq has been developing its United States- and Canada-patented technology at the Asphalt Ridge site with the aim of finalizing a process that boosts North American oil production through the distillation of oil-rich sands. The emphasis on environmental impact has created a process that is cost effective, produces no greenhouse gases and leaves no waste once the “cleaned up” sands are returned to the ground and the proprietary solvent solution involved in the extraction is recycled. Petroteq announced in June that it was on track to initiate operations in the second quarter of 2018, and the full financial benefit of 1,000 bbl/d production is on track to be realized in the second half of 2018, a NetworkNewsWire article states (http://ibn.fm/tqW5O).”
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About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Petroteq’s proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. In addition, the company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and www.PetroBLOQ.com
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