Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) P
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Posted On: 11/15/2017 6:17:56 PM
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Provides Progress Update on New Oil Extraction Facility
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, today announced the reconstruction of a new large-scale oil extraction facility. As part of the recent corporate restructuring, the company decided to relocate the plant from its location 10 miles from the Temple Mountain Resource Site to the TME mine site. The relocation will increase Petroteq’s production capacity from 250 to 1,000 barrels per day utilizing the company’s unique hydrocarbon extraction technology. Petroteq intends to have the relocated facility producing in February 2018. "With this new facility, we expect an increase in both efficiency and production. There is a tremendous opportunity in the development of our resources near Asphalt Ridge as we anticipate a large contingent oil sands resource base of approximately 87 million barrels of oil equivalent within that region. Over the next several weeks, we will continue to develop and respond to the needs of the new facility," Petroteq CEO Alex Blyumkin stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, today announced the reconstruction of a new large-scale oil extraction facility. As part of the recent corporate restructuring, the company decided to relocate the plant from its location 10 miles from the Temple Mountain Resource Site to the TME mine site. The relocation will increase Petroteq’s production capacity from 250 to 1,000 barrels per day utilizing the company’s unique hydrocarbon extraction technology. Petroteq intends to have the relocated facility producing in February 2018. "With this new facility, we expect an increase in both efficiency and production. There is a tremendous opportunity in the development of our resources near Asphalt Ridge as we anticipate a large contingent oil sands resource base of approximately 87 million barrels of oil equivalent within that region. Over the next several weeks, we will continue to develop and respond to the needs of the new facility," Petroteq CEO Alex Blyumkin stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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