Petroteq Announces Hiring of New Chief Operating Officer

SHERMAN OAKS, Calif., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, is pleased to announce that George Stapleton has joined Petroteq as Chief Operating Officer.

Mr. Stapleton brings over forty years of experience in all aspects of design, construction, fabrication and project management for onshore and offshore plant and energy infrastructure related projects. Mr. Stapleton spent over 20 years of his career with McDermott, Inc., a premier international engineering, construction and procurement firm. Most recently he held the position of Senior Director for all fabrication operations for McDermott, Inc. in North, Central and South America.

Mr. Stapleton was a Director of E-T Energy Ltd. from 2003-2017 where he was responsible for the definition and development of a pilot program to prove the application of patented environmental remediation technology to the production of bitumen from shallow Athabasca oil sands and managed the design and construction of surface production facilities.

In his capacity as Chief Operating Officer, George will be responsible for overseeing all engineering, planning, procurement, project management and day-to-day operations on behalf of the Company including interfacing with existing engineering and operating partners.

“Mr. Stapleton’s recruitment is certainly a most fortuitous event for Petroteq. George brings a combination of proven engineering, project management and operations experience developed over four decades with world-class companies and projects. Together with his intimate understanding of oil sands and remediation projects, I believe he is the perfect fit for Petroteq and I enthusiastically welcome him as our new Chief Operating Officer. We expect great things from George and look forward to what the future will bring,” stated Chairman Alex Blyumkin.

Steve Byle, CEO of Valkor Engineering, long-time services partner and shareholder of Petroteq said “That Petroteq has attracted someone with George’s experience is a big step forward for the company and I look forward to working with him to continue our work to increase capacity and optimize plant operations to prove the capability of the Asphalt Ridge plant to produce sustainable, economically viable oil and natural fuel products.”‎