Rival Technologies Inc. announced that it has received and analyzed additional data from tests conducted last month. The Company said that it now owns an extremely valuable formula that represents a breakthrough for upgrading oil sands bitumen and heavy oil.

The invention is a method of upgrading heavy crude oil (HCO), especially high-sulfur HCO, via the addition of Rival's 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, ash-free distillate containing less sulfur, having lower viscosity than the feed HCO and having lower olefin content than a distillate produced without DRA addition. Results include:

--201% increase in API gravity of distillate;
--99.9% reduction in viscosity of distillate;
--88% reduction in acid content of distillate;
--14% reduction in the olefin content of distillate.

Rival will now focus on a three-part strategy for 2007; complete the patent process to insure worldwide protection; enter into one or more partnerships with major oil producers; and continue ongoing testing aimed at optimizing the formula's value.