LAS VEGAS, NV--(Marketwired - Oct 24, 2016) - Advanced Environmental Petroleum Producers, Inc. (OTCQB: AEPP). For the past ten years, the World Heavy Oil Congress has been the largest gathering of heavy oil professionals from around the globe. The Congress serves as a benchmark for what's ahead in this sector, showcasing the best of the best in business, strategy, and technology.
Business forums, roundtables, technical sessions and workshops feature at World Heavy Oil Congress, as well as world-class networking opportunities, global exhibition, poster session and a space to highlight our leaders of tomorrow. CEO's, VP's, engineers and government figures unite to deliver the most potent message: that the heavy oil industry is a resurgent and important strand of the global energy mix.
At a key poster session during the first days of the 2016 sessions in Calgary Alberta, Nigel Bosworth, AEPP's Chief Technology Officer, showcased GAP-Canada's (Global Advanced Technologies) new breakthrough technology LC(SM), * the environmentally friendly liquid catalyst. AEPP has the right of first refusal to use this technology. Attendees were taken aback by the ability of the technology to recover heavy oil without heat or pressure and lower capital and operating costs dramatically. The presentation at WHOC has resulted in a myriad of meetings and development proposals with AEPP, which highlight the Liquid Catalyst's ability to lower costs in existing projects.
AEPP, through the technology partnership with PointSource Processing, has developed the most advanced environmental process for extracting Oil & Gas resources with minimal damage to the environment. The process allows us to reinstate the ground as we develop to leave minimal to no scarring. The processed areas are converted into engineered farm land for the local communities.
In addition, AEPP has an option to begin exploring over 3 million acres of Peruvian Resources. The technology they are developing combined with the potential of a substantial oil reserve, is forefront of one of the largest exploration projects in South America.
AEPP will become an oil and gas exploration and development company, operating in Peru where it has several targets in the highly prospective Block 19 of the southern region of that country. The Company after completing the TEA will hold an exclusive license, which entitles it to explore and develop certain oil and gas properties known as "Block 19," an area of 10,100 square km. For further information about AEPP, go to the company website www.aeppinc.com
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.