Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning announced the filing of its third party independent detailed assay and testing resource evaluation report. Per the update, the results from the report, which was completed by Wyoming-based Energy Labs, are consistent with the numerous studies performed on these oils by both academic institutions and major oil firms. “As we continue to make progress with the completion of our plant construction and the signing of our oil offtake agreement, we are extremely pleased with this report that confirms the quality of our oil sands assets,” Alex Blyumkin, chairman of Petroteq, stated in the news release. “Oil with high levels of heavy metals has a negative impact on the life of the catalysts in oil refineries. Our oil contains low levels of asphaltenes and very low metal levels making it attractive to oil refineries.”
To view the full press release, visit http://ibn.fm/7xsFq
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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. Our 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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