6th Sep 2019 12:18
(Alliance News) - Attis Oil & Gas Ltd on Friday said its investee Petroteq Energy Inc has progressed on bringing a Utah heavy oil sands mining project back into production.
Attis noted a Petroteq announcement, which said a facility maintenance programme at Asphalt Ridge has been completed.
Re-engineering modifications for sand separation and fluid extraction equipment has also been completed. All the equipment is now on site at the project in Utah, Attis added.
The "plant re-engineering project is designed to bring production back online", Petroteq said.
In August, Attis said Petroteq received regulatory approval for its 3,000 barrels per day expansion permit of the project.
Petroteq's Chief Executive at the time said: "The expansion development of our Asphalt Ridge property is another important step in our long-term growth strategy."
Attis owns 1.0 million shares in the Toronto-listed firm and also holds 1.0 million in associated warrants, priced at USD0.90 apiece.
Shares in Attis were 2.9% lower at 0.10 pence each in London on Friday afternoon.
Related Shares:
AOGL.L