Mayan Energy Limited Petroteq Energy Inc Update (6000G)
07 November 2018 - 7:00PM
UK Regulatory
TIDMMYN
RNS Number : 6000G
Mayan Energy Limited
07 November 2018
Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 /
Sector: Oil and Gas
7 November 2018
Mayan Energy Ltd ('Mayan' or 'the Company')
Update on investee company: Petroteq Energy Inc
Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company,
is pleased to note the following update from TSX listed Petroteq
Energy Inc ('Petroteq') (TSXVE: PQE OTC: PQEFF) regarding the
Asphalt Ridge heavy oil sands project, Utah. As per the Company's
announcement of 25 October 2018, Mayan is in the process of
receiving 1,035,233 Petroteq ordinary shares and 1,035,233 Petroteq
warrants exercisable at US$0.91 for partial distribution of its
17.3% interest in Deloro Energy LLC ('Deloro').
Full Text of Petroteq's Release
Petroteq Energy Inc. (the "Company") (TSXV:PQE; OTC:PQEFF; FSE:
PQCF), a fully integrated oil and gas company, is pleased to
announce that it has received an Air Quality Control Small Source
Exemption for its Vernal, Utah facility.
The receipt of the Air Quality exemption at the Asphalt Ridge
asset in Vernal, Utah comes just over a month since the Company
initiated commercial production. Petroteq received an "Exemption"
because the Asphalt Ridge Plant's estimated emissions are beneath
the level whereby a permit is required, a further proof that
Petroteq's process is an environmentally conscious method of oil
extraction.
The Company is also pleased to announce that it has expanded the
Board of Directors by adding David Sealock, CEO to the Board, the
board is now comprised of five members.
The Company looks forwards to making future announcements on
business developments with the most recent major milestones having
been reached.
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. 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.
**ENDS**
For further information visit www.mayanenergy.co.uk or contact
the following:
Charlie Wood Mayan Energy Ltd +44 7971 444 326
Roland Cornish Beaumont Cornish Ltd +44 20 7628 3396
---------------------------- -----------------
James Biddle Beaumont Cornish Ltd +44 20 7628 3396
---------------------------- -----------------
Frank Buhagiar St Brides Partners Limited +44 20 7236 1177
---------------------------- -----------------
Gaby Jenner St Brides Partners Limited +44 20 7236 1177
---------------------------- -----------------
Colin Rowbury Novum Securities Limited +44 20 7399 9400
---------------------------- -----------------
Notes:
Mayan Energy Limited is an AIM listed (London Stock Exchange)
North American based energy company.. It is actively pursuing a
primary recovery oil strategy focused on re-stimulating wells
within mature producing basins with immediate cash flow leveraging
commercially available technologies and projects that are shallow,
low risk with low levels of capex and infrastructure already in
place. It also remains interested in creating shareholder value by
strategic investments in similar projects with high cash generative
potential and by forming beneficial development partnerships that
enable the use of pioneering and leading extraction
technologies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDKMMGMNNGGRZG
(END) Dow Jones Newswires
November 07, 2018 03:00 ET (08:00 GMT)
Mayan Energy (LSE:MYN)
Historical Stock Chart
From Apr 2024 to May 2024
Mayan Energy (LSE:MYN)
Historical Stock Chart
From May 2023 to May 2024