Mayan Energy Limited Mayan CEO Appointed to Advisory Board of Petroteq (0318S)

TIDMMYN

RNS Number : 0318S

Mayan Energy Limited

20 June 2018

Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas

20 June 2018

Mayan Energy Ltd ("Mayan" or "the Company")

Eddie Gonzalez, CEO of Mayan, Appointed to the Advisory Board of Petroteq

Mayan (AIM: MYN), the AIM listed oil and gas company, is pleased to announce that Chief Executive Officer Heriberto "Eddie" Gonzalez has been appointed to the Advisory board of TSX listed Petroteq Energy Inc. ("Petroteq"). Petroteq is currently focused on the development and expansion of its Asphalt Ridge heavy oil extraction facility, Utah. Mayan has exposure to the Asphalt Ridge project through its 17.3% interest in Deloro Energy.

In his role, Mr Gonzalez will provide guidance to the management team of Petroteq regarding strategy, dealing with the growing global interest in the Asphalt Ridge project, operational activities and the identification of new opportunities.

Eddie Gonzalez, CEO of Mayan, said, "I am honoured to have been asked to join Petroteq's advisory board and look forward to being able to assist its management team on the development of Petroteq's strategy as well as helping to facilitate some of its external relationships with local operators, the public and government. Via its investment in Deloro Energy, Mayan is fortunate to have exposure to the 93.4 million barrels Asphalt Ridge project which recently commenced production. With production set to reach its initial target of 1,000 barrels of oil per day in the near term, I look forward to working closely with the Petroteq team in my new position, while at the same time continuing in my role as Mayan's CEO."

**ENDS**

For further information visit www.Mayan energy.com or contact the following:

 
 Eddie Gonzalez    Mayan Energy Ltd              + 1 469 394 2008 
 Charlie Wood      Mayan Energy Ltd              [phone] 
 Roland Cornish    Beaumont Cornish Ltd          [phone] 
 James Biddle      Beaumont Cornish Ltd          [phone] 
 Nick Bealer       Cornhill Capital Limited      [phone] 
 Frank Buhagiar    St Brides Partners Limited    [phone] 
 Gaby Jenner       St Brides Partners Limited    [phone] 
 

About Petroteq Energy Inc.

Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The Company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented 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. In addition, the Company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and PetroBLOQ.com.

Notes:

Mayan Energy Limited is an AIM listed (London Stock Exchange) North American based energy Company. The Company is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow leveraging commercially available technologies and projects that are shallow, low risk with low levels of capex and infrastructure already in place. It also remains interested in creating shareholder value by strategic investments in similar projects with high cash generative potential and by forming beneficial development partnerships that enable the use of pioneering and leading extraction technologies. The Company is currently primarily focussed on building out production at its Stockdale and Forest Hill oil fields in Texas.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCEADKEAFKPEFF

(END) Dow Jones Newswires

June 20, 2018 09:19 ET (13:19 GMT)