Petroteq Energy Appoints Seasoned Oil Exploration & Production Entrepreneur Frank Ingriselli to Advisory Board
21 Mai 2018 - 3:15PM
InvestorsHub NewsWire
Studio City, CA -- May 21, 2018 -- InvestorsHub NewsWire
-- Petroteq Energy Inc. (“Petroteq” or
the “Company”) (TSXV: PQE) (OTC: PQEFF) (FSE: A2DYWC) ("Petroteq"
or the "Company"), a company focused on the development and
implementation of proprietary technologies for the energy industry,
is pleased to appoint its newest member Mr. Frank Ingriselli to
the Company’s Advisory Board.
Petroteq’s Advisory Board provides guidance and insight to the
management team on the Company’s strategic initiatives and go
forward strategy as it relates to operational activities of
the Asphalt Ridge heavy oil extraction facility located near
Vernal, Utah.
Mr. Ingriselli is a seasoned leader and entrepreneur with
wide-ranging oil exploration and production experience in diverse
geographies, business climates and political environments over the
past three decades. He founded Blackhawk Energy Ventures in 2016
and serves as the President and CEO. The company focuses on
identifying and acquiring under-valued oil assets and maximize
their production and profit by utilizing stringent cost-effective,
low-overhead operation programs to bring bottom line profitability
through operational efficiency and market responsiveness. Prior to
that, he was the Founder and Chairman of Pacific Energy
Development. He was also the former President and CEO of Erin
Energy Inc., and Pacific Asia Petroleum, Inc.
Mr. Ingriselli began his career at Texaco in 1979 and held
various key executive positions with Texaco throughout the
following two decades including being the former President of
Texaco Technology Ventures and President of Texaco International
Operations Inc.
David Sealock, CEO of Petroteq commented, “We are excited to
have Frank on our team. We believe that his notable background and
expertise in international oil and energy will serve as an
invaluable tool for the development of our future strategy.”
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 press 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 contributions to be made to the Company by Mr. Ingriselli.
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. 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 depends 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: the advisory board addition not having the
impact anticipated; PetroBLOQ not having the expertise
and/or funds necessary to develop and implement a blockchain-based
supply chain management system; PetroBLOQ not being able to develop
the blockchain technology or other applications to completion;
blockchain technology not being adopted by the oil and gas
industry; 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.
CONTACT INFORMATION Petroteq Energy Inc. Alex Blyumkin Executive Chairman & Founder Tel: (800) 979-1897 investors@petroteq.energy
Petroteq Energy (TSXV:PQE)
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