Rival Technologies (PK) (USOTC:RVTI)
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Rival Technologies Inc., (OTCBB:RVTI) reports its oil
and gas subsidiary, TRU Oiltech Inc. has obtained positive results
from tests performed at the Alberta Research Council (ARC). Tests
have proven a decrease in sulfur content of 67 percent and a
reduction in total acid number of 88 percent using the TRU process.
TRU Oiltech continues to evaluate the process parameters and
expects to achieve its target of lighter, low sulfur, low acid
product from heavy crude oil and oil sand bitumen. TRU Oiltech is
planning further tests at ARC, and expects a provisional patent
filing by the end of March.
"These are excellent results and lead me to believe that our TRU
process will become an important upgrading technology for heavy oil
and oil sand bitumen producers," said Sandy Constable, President of
TRU Oiltech Inc.
On behalf of the Board of Directors
Robin J. Harvey, President
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the United States
Securities Legislation. The Company's actual results could differ
from those in the forward-looking statements. Do not construe this
information as investment advice. This is not a solicitation to buy
or sell securities. This does not purport to be a complete analysis
of the Company. Investing in securities is speculative and carries a
high degree of risk. Past performance does not guarantee future
results. Readers should consult their own independent advisers with
any investment, including any contemplated investment. All
information contained in this press release should be independently
investigated. This press release contains forward-looking statements.
These remarks involve risks and uncertainties. Risks are not limited
to quarterly fluctuations in results or the companies' management of
growth and competition. Other risks are detailed in the Company's SEC
filings. Actual results may differ materially from such information
set forth herein.
Rival Technologies Inc. (OTC Bulletin Board:RVTI)