Rival Technologies Inc.

Rival Technologies Inc.

January 16, 2007 06:00 ET

Rival Technologies Inc.-Breakthrough Reached in Oil Sands Technology

LAS VEGAS, NEVADA--(CCNMatthews - Jan. 16, 2007) - Rival Technologies Inc. (PINK SHEETS:RVTI) reports that it has received and analyzed additional data from tests conducted last month. The Company 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 sulphur 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, ash-free distillate containing less sulphur, 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.

Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies with extraordinary market potential. Cost reductions realized through improvements to existing heavy oil upgrading and refining processes position Rival Technologies Inc. to participate in an industry sector worth hundreds of millions of dollars.

On behalf of the Board of Directors

Robin J. Harvey

Certain statements in this press release constitute "forward-looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the companies' management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.

Contact Information

  • Rival Technologies Inc.
    Robin J. Harvey
    Website: www.rvti.com