Petroteq Energy Inc V.PQE.H

Alternate Symbol(s): PQEFF

Energy Oil & Gas E&P

Petroteq Energy Inc. is a clean technology company. The Company is 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 Company's subsidiary, Petroteq Energy CA Inc. (PCA), is engaged in the business of exploring for, extracting and producing oil and hydrocarbon products from oil sands deposits and sediments located in the Asphalt Ridge area of Uintah County, Utah. The Company specializes in oil production with ancillary offerings in mining and sand remediation. The Company's clean oil recovery technology (CORT) is used at its Asphalt Ridge Plant to extract and produce crude oil from oil sands utilizing a closed-loop solvent-based extraction system.

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Comment by CTM1967on Sep 27, 2021 9:21am

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Post# 33923150

RE:NEWS !!

Bubula50 wrote:
Testing Confirmed MSAR® and bioMSAR™ Fuels Can Be Produced from Asphalt Ridge Heavy Oil

SHERMAN OAKS, CA / ACCESSWIRE / September 27, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") ‎‎(TSXV:PQE;)(OTC PINK:PQEFF)(FSE:PQCF), an oil ‎company focused on the development and implementation of its proprietary oil-‎extraction ‎technologies, is pleased to announce that Quadrise Fuels International plc ("Quadrise") recently provided an update on its testing of an oil sample supplied by TomCo's 100% owned subsidiary Greenfield Energy LLC ("Greenfield") 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.

The testing program at the QRF confirmed the ability to produce commercial MSAR® and bioMSAR™ fuels from the sample of heavy sweet oil provided by Greenfield and a report of the testing results has been issued to Tomco. 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.

Quadrise further noted that this testing concludes the proof-of-concept work that was scheduled in Phase 1 of the Commercial Trial Agreement between Greenfield and Quadrise announced on 18 August 2020. TomCo will now review the report and it is expected that Greenfield and Quadrise will enter discussions regarding potential future trials and deployment of the technology to produce MSAR® and/or bioMSAR™ fuel at a commercial scale.

Greenfield has entered a non-exclusive, multi-site license with Petroteq for the use of the CORT process for the production of heavy oil.

Tomco's announcement can be found at:

https://polaris.brighterir.com/public/tomco/news/rns/story/x491l0w

George Stapleton, Petroteq COO, commented: "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."

About Petroteq Energy Inc.