Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil company focused on the development and implementation of its proprietary oil-extraction technologies, today announced that Quadrise Fuels International plc recently provided an update on its testing of an oil sample supplied by TomCo’s 100% owned subsidiary Greenfield Energy LLC. The sample was taken from the Petroteq Oil Sands Plant (“POSP”) and produced from oil sands ore using Petroteq’s Clean Oil Recovery Technology (“CORT”) process. Quadrise reported that an extensive program of testing on the Greenfield oil sample was completed at the Quadrise Research Facility (“QRF”) in Essex on schedule and that the testing program confirmed the ability to produce commercial MSAR(R) and bioMSAR(TM) fuels from the sample of heavy sweet oil provided by Greenfield. A report of the testing results has been issued to TomCo. In addition, simulations of storage and handling of both MSAR and bioMSAR produced were also completed during the program, which indicated that commercial production of MSAR and bioMSAR fuels would be possible in Utah for potential power and marine end-user applications domestically and internationally. “Confirmation that heavy oil extracted from Utah oil sands using our CORT process is suitable for production of MSAR and bioMSAR fuels could allow for the production of fuel and biofuel with significant environmental benefits, while creating a higher value product stream for Petroteq’s future commercial production,” said Petroteq COO George Stapleton in the news release.
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About Petroteq Energy Inc.
Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits — outputting high-quality oil and clean sand. Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater, which would otherwise require the use of other treatment or disposal facilities that could be harmful to the environment. Petroteq’s process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be sold or returned to the environment, without the use of tailings ponds or further remediation. For more information, visit www.Petroteq.energy.
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