NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 04/04/2018 7:25:03 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Employs Patented Extraction Process to Increase Production Capacity
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) announced in early January 2018 that it had received two patents from the U.S. Patent Office and the Canadian Intellectual Property Office for its oil sands extraction process. Petroteq’s patented, cost-effective extraction process will be employed by the company in an effort to increase its Asphalt Ridge oil plant production capacity. An article discussing the company reads: “The company has already produced approximately 10,000 barrels of oil using the new technology and is expanding its heavy oil extraction plant in Asphalt Ridge, Utah, to further increase production. Petroteq plans to increase the oil plant’s production capacity to 1,000 barrels per day after modifications and the implementation of its innovative extraction technology (http://nnw.fm/13CZs). Utah contains around 55 percent of America’s total oil sands deposits, with a total oil resource of more than 30 billion barrels. Petroteq’s mineral lease in the state covers over 3,000 acres and features a large oil sands resource estimated at 87 million barrels of oil equivalent. The company’s patented and cost effective extraction process is expected to make development of this resource highly profitable.”
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 Inc. (TSX.V: PQE) (OTCQX: PQEFF) announced in early January 2018 that it had received two patents from the U.S. Patent Office and the Canadian Intellectual Property Office for its oil sands extraction process. Petroteq’s patented, cost-effective extraction process will be employed by the company in an effort to increase its Asphalt Ridge oil plant production capacity. An article discussing the company reads: “The company has already produced approximately 10,000 barrels of oil using the new technology and is expanding its heavy oil extraction plant in Asphalt Ridge, Utah, to further increase production. Petroteq plans to increase the oil plant’s production capacity to 1,000 barrels per day after modifications and the implementation of its innovative extraction technology (http://nnw.fm/13CZs). Utah contains around 55 percent of America’s total oil sands deposits, with a total oil resource of more than 30 billion barrels. Petroteq’s mineral lease in the state covers over 3,000 acres and features a large oil sands resource estimated at 87 million barrels of oil equivalent. The company’s patented and cost effective extraction process is expected to make development of this resource highly profitable.”
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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