PQEFF - Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FRANKFURT: PQCF) Extracted Oil Tagged and Gauged by Buyer; Company Enters Non-Exclusive Multi-Site License Agreement
- Greenfield Energy, a joint venture between TomCo Energy and Valkor, has entered a non-exclusive multi-site license with Petroteq
- Under the agreement, the company will receive a 5% royalty of all net revenues for oil sands plants built by Greenfield with the Petroteq License
- The company’s patented and proprietary technology for heavy oil extraction is sustainable, environmentally friendly, and cost-effective
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FRANKFURT: PQCF), an oil company focused on developing and implementing its proprietary oil extraction and reclamation technologies, has announced that 250 barrels of oil produced at the company’s oil sands plant at Asphalt Ridge (Utah) was gauged and tagged by a buyer. The produced oil was tested at 10.9° API with low basic sediment and water (BS&W) of 0.3% (https://ibn.fm/NZwTv).
The company also announced that Greenfield Energy LLC has entered a non-exclusive multi-site license with Petroteq, which has been granted considering the advanced funding Greenfield has provided regarding upgrading the oil sands plant at...
NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at http://ibn.fm/PQEFF
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