Los Angeles, CA -- December 06, 2017 -- InvestorsHub NewsWire
-- Petroteq Energy Inc. (the “Company”)
(TSXV: PQE; OTCQX: PQEFF; Frankfurt: A2DYWC), a company
focused on the development and implementation of proprietary
technologies for the environmentally safe extraction of heavy oils
from oil sands, oil shale deposits and shallow oil deposits,
announced today that it has joined the American Petroleum
Institute (API). The API is the only national trade association
representing all facets of the oil and natural gas industry,
promoting safety across the industry globally and influencing
public policy in support of a strong, viable oil and natural gas
industry.
“We are very pleased to join the oil and gas industry leaders of
API,” said Alex Blyumkin, CEO of the Company. “API has led the
development of operating standards for our industry, and we look
forward to contributing our experience with oilfield technologies
in addition to introducing our PetroBLOQ platform to its
members throughout the supply chain.”
“We welcome Petroteq Energy to the API community,” said Lisa
Salley, Vice President of Global Industry Services at API. “We note
that Petroteq has been focused on using environmentally safe
processing technologies, and we’re interested to see how PetroBLOQ
can help companies manage an increasingly global and complex supply
chain.”
“PetroBLOQ is looking forward to leveraging our collective
experience in the oil and gas industry and with blockchain
technology to help solve the inherent difficulties and complexities
up and down the industry, said Greg Rubin, CEO of First
Bitcoin Capital Corp. and an Advisory Board member of
PetroBLOQ. “We’re eager to partner with API to introduce
industry-wide education and certification programs as we
demonstrate the value of blockchain-based applications to create
transactional and operational efficiencies for all industry
participants.”
Petroteq has launched a new website dedicated to the joint
venture (www.petrobloq.com) where problems facing the oil and gas
industry are outlined and corresponding solutions will be offered.
PetroBloq will be the first blockchain-based platform developed
exclusively for the supply chain needs of the oil and gas sector,
with a goal of providing each of the individual companies involved
with cost and time savings, increased transparency, and the ability
to effectively mitigate the risk of fraud and disputes amid the
constantly evolving geopolitical atmosphere and subsequent market
fluctuations.
The Company will be presenting at the 10th annual LD
Micro Main Event on Wednesday, December 6th at 12:00 PM PST /
3:00 PM EST at the Luxe Sunset Boulevard Hotel in Los Angeles,
California. The Company’s President, Dr. R. Gerald ("Jerry")
Bailey, will be presenting and meeting with investors.
About PetroBLOQ
PetroBLOQ is a collaboration formed by the Company and First
Bitcoin Capital Corp. to develop the first supply chain management
platform based on advanced blockchain technology for the global
transaction needs of the oil and gas industry.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp. is engaged in developing digital
currencies, proprietary blockchain technologies, and the digital
currency exchange -- www.CoinQX.com (in beta). For more information
visit: www.BitcoinCapitalCorp.com.
About The American Petroleum Institute
(API)
API is the only national trade association representing all
facets of the oil and natural gas industry. API’s more than 625
members include large integrated companies, as well as exploration
and production, refining, marketing, pipeline, and marine
businesses, and service and supply firms. For more information
visit: www.api.org.
About Petroteq Energy Inc.
The Company is engaged in the development and implementation of
its proprietary environmentally friendly heavy oil processing and
extraction technologies. The proprietary process produces zero
greenhouse gas, zero waste and requires no high temperatures. The
Company is currently focused on developing its oil sands resources
and expanding production capacity at its Facility at Asphalt Ridge,
Utah. The Company also (i) owns a minority stake in an exploration
and production play located in southwest Texas held by Accord GR
Energy Inc., (ii) has a joint venture with Recruiter.com and
Oilprice.com that provides internet based job placement and career
services to the increasingly skilled and specialized energy sector,
and (iii) is developing an advanced blockchain solution for the
energy industry, in a project called PetroBloq, with a goal of
optimizing petrochemical industry workflow processes.
For more about Petroteq Energy Inc.
visit: www.petroteq.energy.
For more on the joint venture with Recruiter.com and
Oilprice.com visit: www.jobs.oilprice.com.
For more on Petrobloq visit: www.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 the Company
successfully developing an advanced blockchain solution for the
Energy 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. 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:
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; 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 annual Management’s Discussion and
Analysis for the year ending August 31, 2016, 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.
The securities referred to in this news release have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This news release does not
constitute an offer for sale of securities, nor a solicitation for
offers to buy any securities. Any public offering of securities in
the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as
financial statements.
Petroteq Energy Inc. Alex BlyumkinChief Executive Officer Tel: (800) 979-1897
Petroteq Energy (CE) (USOTC:PQEFF)
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