STUDIO CITY, CA, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV: PQE; OTCQX: PQEFF; Frankfurt: A2DYWC), a company focused on the development and implementation of proprietary technologies for the energy industry, today announced the engagement of strategic media and marketing partners.
The Company is pleased to be working with NetworkNewsWire, a financial news and content distribution company, and Stockhouse, Canada’s leading financial portal and one of North America’s largest small cap investor communities, to help develop deeper industry and investor awareness. Petroteq has also agreed to collaborate with Recruiter.com, a leading online global recruiting service provider, through which the Company intends to access thousands of energy industry executives that may generate inbound inquiries to the unique technologies Petroteq has developed.
“It is critical for Petroteq to expand our audience of investors, as we continue to make significant progress with the construction of our extraction plant at Asphalt Ridge,” said Petroteq CEO, Alex Blyumkin. “We have selected partners whose networks we expect to be able to leverage in order to reach the broadest possible audience to whom we can communicate our development and the scope of our business.”
Assembly of Petroteq’s heavy oil extraction plant in Utah is proceeding ahead of schedule. The facility is expected to be the first such operation in the country to be powered by Petroteq’s blockchain-based supply chain management system, being developed by PetroBLOQ, a wholly owned subsidiary of the Company.
“We are excited to move forward with our plans to leverage our proprietary technologies as Asphalt Ridge nears its scheduled opening,” continued Blyumkin, “and to share the significant potential of PetroBloq, our blockchain-based system, in development, to create sustainable efficiencies for the oil and gas industry.”
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 news 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: working with NetworkNewsWire and Stockhouse helping to develop deeper industry and investor awareness of the Company; the Company obtaining access to thousands of energy industry executives to generate inbound inquiries through Recruiter.com; the Company’s facility being the first such operation in the country to be powered by Petroteq’s blockchain-based supply chain management system; and Asphalt Ridge nearing its scheduled opening; and Petroteq’s blockchain-based system creating sustainable efficiencies for the oil and gas industry; are intended to identify forward-looking information. 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: working with one or both of NetworkNewsWire and Stockhouse resulting in deeper industry and investor awareness of the Company; working with Recruiter.com resulting in thousands of energy industry executives generating inbound inquiries; the Company having the funds and know how to successfully develop a develop a blockchain-based supply chain management system that creates sustainable efficiencies for the oil and gas industry; and the Company’s oil extraction plant being successfully completed and operating on a commercial basis. 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 depend 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: PetroBLOQ not having the expertise and/or funds necessary to develop and implement a blockchain-based supply chain management system at the Asphalt Ridge plant; 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, 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 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.