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Operations

Utah

Petroteq’s Asphalt Ridge is the company’s primary production operation, just south of Vernal, Utah. The operation outputs consists of heavy oil and sand products.

The state of Utah is known to have total resource estimates ranging from 23 to 32 billion barrels of oil-in-place (“OIP”).*  (OIP represents undeveloped oil sand resources, and are not estimates of resources or recoverable resources.) In fact, Utah contains approximately 55% of the nation’s total deposits. These oil sands are classed as “oil-wet” deposits and consist of a mixture of sand and a dense, extremely viscous form of petroleum technically referred to as bitumen or tar. Moreover, the bitumen in Utah is somewhat unique in that it contains less than 0.5% sulfur.

*Source: “A Technical, Economic, and Legal Assessment of North American Oil Shale, Oil Sands, and Heavy Oil Resources In Response to Energy Policy Act of 2005 Section 369(p)” (September 2007), prepared by the Utah Heavy Oil Program, Institute For Clean and Secure Energy and The University of Utah for the U.S. Department of Energy (the “2007 Report”), citing estimates based upon source material published in 1979, 1987 and 1993.

Utah Production Overview

Demonstration Plant

2500 Acres

Under lease

87M bbl+

Near surface oil resource

10,000 bbl

DEMONSTRATION plant cumulative production

500 bpd

Target with current demonstration plant

Production Plant

Status

Feasibility confirmed and operation being certified.

First 5,000 bpd

Production plant engineered & planned

$20 < per bbl

Production cost target

$10/bbl+

Potential additional margin on cleaned sand

Production Mix

Diesel Heavy Oil Sand Products

View Utah Plant Gallery