Petroteq Energy Inc. has begun delivering oil into its regional market.
"Our first sale of our product this week represents a critical milestone in Petroteq’s evolving history,” stated CEO David Sealock. “From a strong entrepreneurial spirit, Petroteq has developed into an oil sands mining producer and technological leader in the sector, and this is due to the hard work of everyone at the Company. Throughout 2018, we've continued to improve on four critical focus areas – focusing of health and safety, increasing production, reducing per barrel costs and working to maximize the value of every barrel we produce.”
The Company goal is to deliver oil on a regular basis while ramping production up to the stated nameplate production capacity of 1,000 barrels per day (bpd).
Additionally, the Company is working with several parties on identifying growth capital for the intended expansion of the Company’s Asphalt Ridge Plant.