NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 09/27/2018 5:41:02 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Commences Commercial Production at Asphalt Ridge Facility; Posts Statement From the CEO
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), a fully integrated oil and gas company, this morning announced the commencement of commercial production at its Asphalt Ridge plant in Vernal, Utah. Petroteq intends to increase production at the Asphalt Ridge plant at a rate of an additional 10% of total capacity each week until it reaches its target of 1,000 bpd. Transport of the oil off site is subject to the company receiving a business permit, which is expected in the coming weeks.
Additionally, Petroteq published a statement from the company’s CEO, David Sealock. “Our “Asphalt Ridge” asset has (from time to time) caught the attention of major oil companies going back 70 years. But nobody has been able to unlock its resources in a financially sound and environmentally friendly manner until the Petroteq team and its proprietary technology came along. I know our investors have been anxiously waiting for updates about our production levels and they should know that I have been taking a calculated approach in initiating production at our new plant in Vernal, Utah,” Petroteq Energy CEO David Sealock stated in the news release. “I know our partners and stakeholders will welcome the approach I’ve implemented; small batch testing of our facility before running it at its intended full capacity of 1,000 bpd. Petroteq is launching a “first” in the industry and those types of projects require deliberate caution when getting started.”
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) (OTC: PQEFF), a fully integrated oil and gas company, this morning announced the commencement of commercial production at its Asphalt Ridge plant in Vernal, Utah. Petroteq intends to increase production at the Asphalt Ridge plant at a rate of an additional 10% of total capacity each week until it reaches its target of 1,000 bpd. Transport of the oil off site is subject to the company receiving a business permit, which is expected in the coming weeks.
Additionally, Petroteq published a statement from the company’s CEO, David Sealock. “Our “Asphalt Ridge” asset has (from time to time) caught the attention of major oil companies going back 70 years. But nobody has been able to unlock its resources in a financially sound and environmentally friendly manner until the Petroteq team and its proprietary technology came along. I know our investors have been anxiously waiting for updates about our production levels and they should know that I have been taking a calculated approach in initiating production at our new plant in Vernal, Utah,” Petroteq Energy CEO David Sealock stated in the news release. “I know our partners and stakeholders will welcome the approach I’ve implemented; small batch testing of our facility before running it at its intended full capacity of 1,000 bpd. Petroteq is launching a “first” in the industry and those types of projects require deliberate caution when getting started.”
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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