Rival Technologies Inc.-Scientifically Confirms TRU(TM) Market Value
Wednesday August 8, 9:00 am ET
LAS VEGAS, NEVADA--(MARKET WIRE)--Aug 8, 2007 -- Rival Technologies Inc. (Other OTC:RVTI.PK - News) is pleased to report that it has scientifically confirmed, with a correlation coefficient of .979, the market value of light synthetic crude produced by its TRU(TM) process. This market value is comparable to other well-known refinery feed stocks, but produced by TRU(TM) at a much lower cost.
Average published prices were obtained for twenty-five sour crude refinery feedstocks and used to correlate prices with eight sour crude quality factors: API (density), TAN (acidity), Nitrogen, Sulphur, Nickel, Vanadium, microcarbon residue (MCR) and simulated distillation residue. This was done using multiple regression analysis to eliminate any bias from the correlation. "The excellent resulting correlation coefficient of .979, confirms that TRU(TM) has a feedstock value of $50 per barrel, comparable to well known mainstream refinery feedstocks," stated Klaus Oehr, Director of Research and Development for TRU Oiltech.
"The many advantages of using our synthetic crude feedstock as compared to dilbit (condensate diluted bitumen) are core elements to commercializing the TRU(TM) process," added Sandy Constable, President of TRU Oiltech.
Diluent (condensate) at a ratio of 30% diluent to 70% bitumen is standard for blended heavy oils. Using current prices, producers currently purchase $20 of condensate for each barrel of feedstock sold at $50. The TRU(TM) process eliminates the need for condensate. The company anticipates a fee of $2 per barrel of oil production using the TRU(TM) process. This proprietary process can be applied to billions of barrels of heavy oil reserves.
Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies. Rival has filed several provisional patents and patent applications and is now focused on licensing its technology for industry use. Each technology benefits the environment, reduces global warming, and has exceptional market segment potential.
On behalf of the Board of Directors
Robin J. Harvey, President
