Rival Technologies Inc.

Rival Technologies Inc.

February 20, 2007 09:01 ET

Rival Technologies Inc.-Market Evaluation for TRU Technology

LAS VEGAS, NEVADA--(CCNMatthews - Feb. 20, 2007) - Rival Technologies Inc. (PINK SHEETS:RVTI) reports that it has completed an evaluation of the market potential for TRU Technology, its new oil sands bitumen/heavy oil upgrading process.

The TRU process takes a heavy oil feedstock, adds a proprietary reagent, and transforms the feedstock into medium crude. Effectively, the process eliminates significant costs related to the refining of heavy oil and oil sand bitumen. The commercialization strategy is to license the TRU process to Tier 1 producers in exchange for an initial capacity license fee and subsequent royalty payments.

Current costs for adding diluent or condensates to heavier oils represents 30% of the total cost per barrel for blended heavy oils. At current prices this cost can run to 18$ US per barrel. The TRU process will potentially reduce this cost by $5-$10 USD per barrel. As licensor of the patent pending technology, the company anticipates a fee of $1-2 US per barrel.

Worldwide, oil sand and heavy oil resources are massive. The average reserve of each SAGD (Steam Assisted Gravity Drained) project is 3 billion barrels of oil. In Canada alone these producers have a total reserve of 1.3 trillion barrels of heavy oil that will be developed over the next 40 years. Similar reserves of heavy oil are located in Venezuela. These producers represent the prime market for TRU technology.

In further news, the company is nearing completion of its first joint venture agreement relating to TRU Technology, to be announced next week.

Rival Technologies Inc. is focused on developing emerging technologies that benefit the environment, reduce global warming, and have exceptional market segment potential.

On behalf of the Board of Directors

Robin J. Harvey, President

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