May 16, 2019
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF), an oil and gas industry technology innovator, is developing a surface-oil extraction process that lowers the effects on the environment. An article discussing PQEFF reads, “Petroteq’s patented process produces heavy oils squeezed from surface pockets of bituminous shale in a closed-loop ‘clean’ cycle that avoids many of the financial risks and uncertainties associated with exploring for crude sources deep underground. In particular, once a surface asphalt resource has been visually identified, there is no significant investment risk on the company’s part related to exploration, because the extent of the resource is already known prior to set up. . . . Petroteq’s process also has the advantage of being perhaps the most environmentally friendly of any extraction mechanism. It is a first-of-its-kind technology in which oil sands are mixed with a solvent solution, crushed to squeeze out the oil, shaken and then heat distilled to remove the oil for storage. The original sand material is returned to the desert floor cleaner than when it was taken for processing.”
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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. The company’s proprietary process produces zero greenhouse gas and 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 and processing facility located near Vernal, Utah. For more information, visit the company’s website at www.Petroteq.energy.
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