Rival Technologies (PK) (USOTC:RVTI)
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From Jul 2019 to Jul 2024
Rival Technologies Inc., (OTCBB:RVTI) announced today
its oil and gas subsidiary, TRU Oiltech Inc. has signed a contract
with the Alberta Research Council to perform a series of laboratory
tests. Testing will be conducted on bitumen samples (steam-assisted
gravity drainage SAGD bitumen) and are designed to identify
parameters and key interactions with respect to the Company's mild
thermal reagent-based upgrading (TRU) process. The initial tests are
scheduled to be completed in three to four weeks, and are expected to
lead to additional detailed testing. TRU Oiltech Inc. is targeting to
file a provisional patent by the end of January, 2006.
TRU Oiltech is a mild thermal reagent process, added to heavy
crude oil and oil sands bitumen in order to improve their viscosity
for transfer in pipeline systems. The Company expects TRU Oiltech to
provide substantial per barrel cost savings over existing methods.
Oil producers transfer millions of barrels per day of heavy crude to
refiners. This very large market potential makes TRU Oiltech an
exciting acquisition for Rival.
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)