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Petroteq Energy Inc : Petroteq Announces Debt Conversions
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Petroteq Energy Announces That Upgrades to Its Oil Sands Plant at Asphalt Ridge Have Been Completed
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Company Says
The Mining Contractor Has Already Mobilized Equipment To Site; Expects That Mining Of Oil Sands Ore Will Begin This Week
SHERMAN OAKS, CA / ACCESSWIRE / December 14, 2020 / Petroteq Energy Inc. (
Petroteq or the
Company ) (TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction technologies, announced that work to upgrade the capacity and reliability of its oil sands plant at Asphalt Ridge (the
POSP ) has been completed and commissioning of the POSP is now well underway. It is expected that commissioning activities will be completed this week after which it is planned to begin operating the POSP on a single day shift. Additional personnel will be trained during the initial operations and, assuming the plant operates as expected, it is anticipated that the POSP will move to a two-shift operation next year.