Fully integrated oil and gas company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) today announced the appointment of experienced energy technology investor David Kahn to its advisory board. As a member of Petroteq’s advisory board, Kahn will oversee due diligence on various technologies that the company considers adding to its IP portfolio. In addition, Petroteq also highlighted recent developments within the oil industry, Baytex Energy Corp’s (NYSE: BTE) $1.2 billion acquisition of rival Raging River Exploration Inc. and Nexen Energy’s recently announced $400-million expansion of its oil sands project in Alberta. Petroteq believes these developments are positive and reaffirm the company’s position on its own extraction process. “With the recent acquisition of a major oil producer in the unconventional oil extraction industry, as well as the planned expansions announced by Nexen Energy, we believe projected growth and sentiment within the unconventional oil and oil sands market is increasing,” Petroteq CEO David Sealock stated in the news release. “As we implement our technology to draw on oil resources in an environmentally friendly way, producing no greenhouse gases or waste, the belief in our system is reinforced. The oil industry is beginning to shift towards more environmentally friendly processes and we take pride at being at the forefront of that movement.”
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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. Petroteq’s 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 www.PetroBLOQ.com
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