Petroteq Energy Inc (PQEFF)

[NetworkNewsWire]

PQEFF Receives Notices of Allowance from US and Canadian Patent Offices

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, this morning announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for U.S. Patent Application 13/627,518, “Oil From Oil Sands Extraction Process” and a Notice of Allowance from the Canadian Intellectual Property Office for Canadian Patent Application 2,754,355, “Oil Extraction Process.” “We are very excited to receive the Notices of Allowance from the respective U.S. and Canadian patent offices,” Alex Blyumkin, CEO and chairman of Petroteq, stated in the news release. The patents are part of Petroteq’s growing intellectual property portfolio, which also includes patent protection in Russia. To date, Petroteq has applied for protection in all of the countries with significant heavy oil assets that it believes show promise for the company.

To view the full press release, visit http://nnw.fm/u8cMb

About Petroteq Energy Inc.

Petroteq Energy is engaged in the development and implementation of its proprietary 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. Petroteq is also developing technologies to optimize petrochemical industry workflow processes. For more information, visit www.PetroteqEnergy.com