Rival Reports Breakthrough in Oil Sands Technology

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.