Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil company focused on the development and implementation of its proprietary oil sands extraction and remediation technologies, has released a report for the month of May. The report is in accordance with the company’s earlier announcement and creation of a Regulatory Oversight Advisory Committee (“ROC”). According to the announcement, the company and the ROC are pleased to report that that all transactions put forth before the ROC during the month of May have been reviewed by its members. In addition, all necessary filings with the TSX Venture Exchange have been made. The ROC notes that the filing have been made in compliance with TSX.V policies. Petroteq also noted that it has struck a board subcommittee mandate to carry out the CEO search. “Members include independent board members, management and consultants,” the announcement stated. “The company will continue to provide updates on the committee’s progress towards this important mandate.”
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About Petroteq Energy Inc.
Petroteq is a clean-technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits, outputting high-quality oil and clean sand. Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge, Utah, without requiring the use of water and, therefore, without generating wastewater that would otherwise require the use of other treatment or disposal facilities, which could be harmful to the environment. Petroteq’s process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand, which can be sold or returned to the environment without the use of tailings ponds or further remediation. For more information about the company, visit www.Petroteq.energy.
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