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Petroteq Energy Inc.’s (TSX.V: PQE) (OTCQX: PQEFF) Proprietary Oil Extraction Technology Favors the Environment

  • CEO David Sealock to present Petroteq corporate overview at Microcap Conference
  • Innovative, patented oil extraction technology maximizes efficiencies, boasting environmentally friendly features with zero greenhouse gas and waste
  • Strategic investments in technology include blockchain-based platform targeting supply chain needs of oil and gas industry

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, is gearing up for an impressive year full of significant milestones. Newly appointed CEO David Sealock plans to share a corporate overview of the company’s patented, environmentally friendly oil extraction technologies and its commitment to blockchain technology during the Microcap Conference on April 9 at the Essex House in New York City.

Sealock is a highly accomplished, results-driven senior executive with over 26 years of strategic management and business/digital transformation experience and a track record of working with and for several oil and gas corporations. In a news release, former CEO Alex Blyumkin, who is now chairman of Petroteq’s board of directors, noted that Sealock’s background as a technical professional (he is a Registered Engineering Technologist with ASET) complements the company’s strategic growth plans.

“We believe David’s aptitude and capabilities will allow us to take Petroteq to the next level as we make significant progress in our Utah facilities and also move forward on building our PetroBloq consortium,” Blyumkin said in making the announcement (http://nnw.fm/kkLP1). “He is a well-rounded leader that has been known for initiating innovative technologies for cost efficiencies and has successfully completed a US$150M equity financing and US$200 million debt financing under his stewardship while he was President and CEO with Sunshine Oilsands.”

One of Sealock’s first public endeavors will be at the Microcap Conference in New York, where he will share details about the company’s proprietary technology for oil extraction and provide a look into the development of PetroBLOQ, a blockchain-based platform designed to address the supply chain needs of the oil and gas sector (http://nnw.fm/n23Mw). As a pioneer in the environmentally safe extraction of heavy oils from oil sands and oil shale deposits, Petroteq is increasingly finding its patented technology generating interest among its peers.

“While investors have historically been skeptical of oil sands mining, Petroteq’s technology evolves oil sands mining to a much cleaner, safer and environmentally friendly extraction method,” Sealock said in an interview. “Petroteq intends to make a positive impact in shaping Utah’s energy future, setting environmental stewardship standards to ensure earth, water, and air are properly managed and sustained for future generations. As Petroteq executes its lean project execution model, leveraging Blockchain, for cost leading and environmentally friendly development of our resources, the Company is committed to safe and reliable performance at all levels of the organization.”

Petroteq’s Asphalt Ridge property in eastern Utah has already produced approximately 10,000 barrels of oil using the company’s unique continuous-flow oil extraction process, which utilizes environmentally friendly, closed-loop technology. Expansion plans to increase the oil plant’s production capacity to 1,000 barrels per day are complete (http://nnw.fm/13CZs), and Petroteq managers expect this Utah resource to be highly profitable.

“Petroteq’s culture, the DNA of the Company, has been guided by our Chairman and board members,” Sealock said. “Although times, and markets, change, Petroteq’s focus on integrity, transparency, and open communications that create collaboration and coordination, are our strongest asset. My mandate is to maintain our growth strategy, adapt for the times and new markets, but keep the DNA intact. Petroteq offers an exciting investment opportunity, with the team, resources, and production profiles that have the potential to achieve optimal production for decades to come. Milestones like the completion of our 1,000 barrel per day commercial facility and the progression of EPC to ensure that our 5,000 barrel per day facility is operational in 2019, positions Petroteq to offer shareholders and our partners tremendous growth.”

For more information, visit the company’s website at www.Petroteq.energy

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