(EMAILWIRE.COM, November 17, 2009 ) November 17, 2009, New York, NY – Keros Capital Client, Rival Technologies Inc. (OTCBB: RVTI) just announced that through its Colombian business partner, they are working towards commercialization of their proprietary heavy oil upgrading process with the largest Colombian oil company, Ecopetrol (USD $54 billion market cap.).
Previously announced technical due diligence completed by Ecopetrol has moved discussions towards completing a contractual arrangement for the purchase of a continuous feed pilot plant utilizing the TRU(R) technology. The contract will put the put the TRU(R) process at the forefront of an initiative to achieve increased production goals. Negotiations are expected to conclude with a contractual agreement soon.
Total oil resources worldwide are estimated at roughly 9 to 13 trillion barrels, of which 70 percent are oil sands, heavy oil and bitumen. Before moving from the field to the refinery these resources will need to be upgraded and represent the prime market for Rival's technology.
About RIVAL Technologies Inc.
RivalÂ’s TRU process is a revolutionary method of upgrading heavy crude oil (HCO), especially high sulfur HCO, via the addition of our proprietary distillable recyclable additive (DRA) to form an HCO-DRA mixture. The HCO-DRA mixture is then heated and distilled to form a lower density, lower acidity, lower metals, ash-free distillate containing less sulfur and having lower viscosity than the feedstock.
The proprietary TRU process is protected through extensive patent applications and the product, a premium grade synthetic oil, is trademarked TRULITE®.
The company estimates that TRU process technology adds $12-21 per barrel to the wellhead value of heavy oil.
CONTACT: Rival Technologies Inc.
Investor Relations
877-286-4198
info@rvti.com http://www.rvti.com
Disclosure: All material herein was prepared by Keros Capital Inc. (Keros) based upon information believed to be reliable. The information contained herein is not guaranteed by Keros to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Keros is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.keroscapital.com or mentioned herein. Keros has been compensated two hundred twenty five thousand shares for this advertising effort. Keros affiliates, officers, directors and employees may own shares and may buy and sell additional shares of the company mentioned herein and may profit in the event those shares rise in value. Keros will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market. Copyright 2009 by Keros Capital. All rights reserved. This publication or part thereof may not be duplicated or reprinted without the written permission of the Publisher. Facsimile including photocopy(s) is strictly forbidden, except for facsimile correspondence between Keros Capital. If this publication contravenes any securities laws and/or regulations, the securities regulations of the country will prevail. In this event, this publication must be discarded immediately. Anyone not wishing to receive future Keros Capital Investor Reports should email us at opt-out@keroscapital.com