Rival Technologies Inc.-Reports Spectacular Conversion of Athabasca Bitumen to TRULITE(TM)
Tuesday February 26, 9:00 am ET
LAS VEGAS, NEVADA--(MARKET WIRE)--Feb 26, 2008 -- Rival Technologies Inc. (Other OTC:RVTI.PK - News) reports that in a recent run of their primary upgrading technology, subsidiary TRU Oiltech has documented the highest ever conversion of Athabasca bitumen to TRULITE(TM) - a distillable pipeline grade synthetic crude oil (SCO).
Typically, bitumen contains less than 45% distillable components (naphtha, distillate and gas oil), and cannot be pipelined to a refinery.
Using 10.7 API bitumen and the TRU(TM) process we achieved an 86.3% volumetric yield of pipeline grade SCO containing 82.7% distillables which represents 71,400 (82.7% X 86.3%) barrels of distillables from 100,000 barrels of bitumen feedstock.
The competitive product, pipeline grade SCO "dilbit", prepared by blending this same bitumen with condensate contains only 61.5% distillables, i.e. 61,500 barrels from 100,000 barrels of dilbit.
"These results - highest ever yield and percentage of distillables - clearly set a new standard in visbreaking-type primary upgrading technologies for bitumen and will accelerate commercialization of the TRU(TM) process and the building of a pilot production facility," stated Sandy Constable, President of TRU Oiltech.
Worldwide, oil sand and heavy oil resources are massive. In Alberta alone there are three major oilsands deposits. The Athabasca deposit, largest and estimated to hold 1.3 trillion barrels of bitumen is a primary market for commercialization of the TRU(TM) process.
Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies. The company has filed several provisional patents and is now focused on licensing its technology for industry use.
Douglas B. Thomas
President and CEO
