Petroteq Energy Inc., an integrated oil ?company focused on the development and implementation of its proprietary oil-?extraction ?technologies, is pleased to announce that its oil sands plant at Asphalt Ridge (the "POSP") has been restarted after a shutdown to allow for certain additional enhancements that were required to be made to the POSP in order to allow for a more efficient and optimised extraction process. The required additional equipment has now been successfully installed and tested, and the POSP is again producing oil.
George Stapleton, Petroteq's COO, commented: "After optimizing the extraction process following initial plant start-up, we determined that certain equipment additions would improve not only the process of extracting bitumen from the oil sands ore but also the removal of clay fines from produced oil. The required equipment has now been installed and commissioned, and we expect that the projected improvement in operating efficiencies will help support the third-party review of the commerciality of the extraction process. We will look to fine-tune the ?various plant systems with the view to increasing production rates and, if warranted by operational and economic conditions, moving to a two-shift operation. Much has been learned from operation of this demonstration plant and all of these lessons learned are now being incorporated into the Front End Engineering Design ("FEED") of a 5,000 barrel per day ("BPD") production train, which is currently underway."