Rival Technologies Inc.-Third Party Engineering Report Completed
April 30 2008 - 9:00AM
Marketwired
LAS VEGAS, NEVADA Earlier this year the Company engaged an
engineering firm to provide an independent review and evaluation of
its TRU(TM) process. The report has now been completed and received
by the Company.
It is concluded that the TRU(TM) process has benefits and the
operation of a commercial unit can be projected from existing test
results. "It is recommended that we undertake a continuous feed
pilot program that simulates, to a reasonable degree, the expected
operating conditions for a commercial production thermal cracker -
solvent extraction process," stated Klaus Oehr, Director of
Research and Development at TRU Oiltech.
A one barrel per day pilot plant is forecast to cost USD $5
million. TRU Oiltech is now in discussion with a number of
potential oil industry partners for this next phase in commercial
development of the TRU(TM) process.
Worldwide, oil sand and heavy oil resources are massive. In
Canada alone producers have a total reserve of 1.3 trillion barrels
of heavy oil that will be developed over the next 40 years. Without
upgrading the value of heavy oil and oilsands is severely limited.
These producers represent the prime market for the TRU(TM) primary
upgrading process.
Rival Technologies Inc. is an innovative energy related
technology company, investing in emerging technologies with
extraordinary market potential. Rival has filed several provisional
patents and patent applications and is now focused on licensing its
technology for industry use.
Douglas B. Thomas, President & CEO
Rival Technologies Inc.
Certain statements in this press release constitute "forward
looking statements" within the meaning of the United States
Securities Legislation. The Company's actual results could differ
from those in the forward-looking statements. Do not construe this
information as investment advice. This is not a solicitation to buy
or sell securities. This does not purport to be a complete analysis
of the Company. Investing in securities is speculative and carries
a high degree of risk. Past performance does not guarantee future
results. Readers should consult their own independent advisers with
any investment, including any contemplated investment. All
information contained in this press release should be independently
investigated. This press release contains forward-looking
statements. These remarks involve risks and uncertainties. Risks
are not limited to quarterly fluctuations in results or the
companies' management of growth and competition. Other risks are
detailed in the Company's SEC filings. Actual results may differ
materially from such information set forth herein.
Contacts: Rival Technologies Inc. Investor Relations
1-866-601-1340 Email: ir@rvti.com Website: www.rvti.com
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