Rival Technologies Inc.-Subsidiary Contracts Independent Engineering Consultant
January 09 2008 - 8:00AM
Marketwired
LAS VEGAS, NEVADA reports that subsidiary TRU Oiltech has
contracted the services of an independent third party engineering
consultant to provide an unbiased valuation of it's synthetic crude
product TRULITE(TM). The analysis will provide the Company's
potential development partners with independent verification of the
market value of TRULITE(TM). Completion of the report is expected
within six weeks and moves the company towards finalizing licensing
agreements with one or more heavy oil producers.
Management has been actively meeting with heavy oil producers
over the past several months in line with its strategy to complete
one or more license agreements in early 2008. This will move
TRULITE(TM) to the next stage of development, building a pilot
production facility in conjunction with an oil company partner.
Worldwide, oil sand and heavy oil resources are massive. In
Canada alone producers have a total reserve of 1.3 trillion barrels
of heavy oil that will be developed over the next 40 years. These
producers represent the prime target market for TRULITE(TM).
Rival Technologies Inc. is an innovative energy related
technology company, investing in emerging technologies. The company
has filed several provisional patents and is now focused on
licensing its technology for industry use.
Douglas B. Thomas, President and CEO
Certain statements in this press release constitute "forward
looking statements" within the meaning of the United States
Securities Legislation. The Company's actual results could differ
from those in the forward-looking statements. Do not construe this
information as investment advice. This is not a solicitation to buy
or sell securities. This does not purport to be a complete analysis
of the Company. Investing in securities is speculative and carries
a high degree of risk. Past performance does not guarantee future
results. Readers should consult their own independent advisers with
any investment, including any contemplated investment. All
information contained in this press release should be independently
investigated. This press release contains forward-looking
statements. These remarks involve risks and uncertainties. Risks
are not limited to quarterly fluctuations in results or the
companies' management of growth and competition. Other risks are
detailed in the Company's SEC filings. Actual results may differ
materially from such information set forth herein.
Contacts: Rival Technologies Inc. Investor Relations
1-866-601-1340 Email: rvti@internet-ir.com Website:
www.rvti.com
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