Petroteq Comments on Featured Article in Vernal Express Newspaper
July 26 2018 - 9:44AM
InvestorsHub NewsWire
Sherman Oaks, CA -- July 26, 2018 -- InvestorsHub NewsWire --
July 26, 2018 - Petroteq Energy Inc. (“Petroteq”
or the “Company”) (TSXV: PQE; OTC:
PQEFF; Frankfurt: A2DYWC), a company focused on the
development and implementation of proprietary technologies for the
energy industry, wishes to comment on a front-page article
published by a local Vernal news publication.
The Company is pleased to be the subject of a featured
front-page article released by a publication based in Vernal, Utah
the Vernal Express earlier this week. The article titled “Petroteq
Looks to Change the Game in Oil Extraction” discusses the Company’s
recent accomplishments in the commissioning of its Asphalt Ridge
heavy oil extraction facility located near Vernal, Utah.
Petroteq’s CEO, David Sealock, commented after yesterday’s
management team and advisory board meetings in Vernal, Utah,
“I was humbled when I was made aware that we were featured on
the front page of the Vernal Express earlier this week, we are
grateful to be making a positive impact in Vernal and the
surrounding communities by bringing jobs and utilizing small local
businesses as vendors in the process of our plants commissioning.
The fact that a number of our contractors are veterans of the
United States Armed Forces goes to further expand on our Company
slogan “American Oil for America” while providing opportunities to
those willing to make the ultimate sacrifice in protecting the
freedom and opportunities enjoyed by individuals and entities in
the United States.”
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 PetroBLOQ.com.
Forward-Looking Statements
Certain statements contained in this press release contain
forward-looking statements within the meaning of the U.S. and
Canadian securities laws. Words such as “may,” “would,” “could,”
“should,” “potential,” “will,” “seek,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “expect” and similar
expressions as they relate to the Company, including: future
growth and profitability of the Company; and the Company
successfully developing block chain technology for the oil and gas
industry, are intended to identify forward-looking information.
Readers are cautioned that there is no certainty that it will be
commercially viable to produce any portion of the resources. All
statements other than statements of historical fact may be
forward-looking information. Such statements reflect the Company’s
current views and intentions with respect to future events, based
on information available to the Company, and are subject to certain
risks, uncertainties and assumptions. Material factors or
assumptions were applied in providing forward-looking information,
including: the plant producing as expected by the Company and the
Company having the funds (through cash flow or financing) to fund
the expansion of its plant as projected, and PetroBLOQ successfully
developing and implementing a blockchain-based supply chain
management system. While forward-looking statements are based on
data, assumptions and analyses that the Company believes are
reasonable under the circumstances, whether actual results,
performance or developments will meet the Company’s expectations
and predictions depends on a number of risks and uncertainties that
could cause the actual results, performance and financial condition
of the Company to differ materially from its expectations. Certain
of the “risk factors” that could cause actual results to differ
materially from the Company’s forward-looking statements in this
press release include, without limitation: uncertainties inherent
in the estimation of resources including whether any reserves will
ever be attributed to the Company’s properties; PetroBLOQ not
having the expertise and/or funds necessary to develop and
implement a blockchain-based supply chain management system;
PetroBLOQ not being able to develop the blockchain technology to
completion; blockchain technology not being adopted by the oil and
gas industry; changes in laws or regulations; the ability to
implement business strategies or to pursue business opportunities,
whether for economic or other reasons; status of the world oil
markets, oil prices and price volatility; oil pricing; state of
capital markets and ability by the Company to raise capital;
litigation; the commercial and economic viability of the Company’s
oil sands hydrocarbon extraction technology, the SWEPT technology,
the S-BRPT technology, and other proprietary technologies developed
or licensed by the Company or by Accord GR Energy Inc., which are
of experimental nature and have not been used at full capacity for
an extended period of time; reliance on suppliers, contractors,
consultants and key personnel; the ability of the Company and
Accord GR Energy Inc. to maintain their respective mineral lease
holdings; potential failure of the Company’s business plans or
model; the nature of oil and gas production and oil sands mining,
extraction and production; uncertainties in exploration and
drilling for oil, gas and other hydrocarbon-bearing substances;
unanticipated costs and expenses, availability of financing and
other capital; potential damage to or destruction of property, loss
of life and environmental damage; risks associated with compliance
with environmental protection laws and regulations; uninsurable or
uninsured risks; potential conflicts of interest of officers and
directors; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in the Company’s disclosure documents, filed with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedar.com.
Should any factor affect the Company in an unexpected
manner, or should assumptions underlying the forward-looking
information prove incorrect, the actual results or events may
differ materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its entirety
by this cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release, and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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