In a news release this morning, Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, reported that it has completed testing of all the fundamental process systems in its heavy oil extraction facility located in Asphalt Ridge, Utah, and that it has started test runs of the utility system as one of the final steps before commercial production. Petroteq has been granted all the relevant permits required to launch commercial production by the pertinent Utah agencies. Most notably, it has received an Air Exemption Permit that certifies that its operation won’t have harmful effect on the surrounding ground water. “We are on the verge of beginning our production phase at Asphalt Ridge,” Alex Blyumkin, CEO of Petroteq Energy stated in the news release. “We completed reassembly and testing of the major process systems successfully and are in the final stages of pre-production testing of the utility system, bringing us one step closer to commercial launch at a time when demand for our products is on the rise.”
To view the full press release, visit http://ibn.fm/uvLhe
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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, 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.
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