Rival Technologies Inc.

Rival Technologies Inc.

November 06, 2006 09:01 ET

Rival Technologies Inc.-TRU Oiltech Commences Key Round of Tests

LAS VEGAS, NEVADA--(CCNMatthews - Nov. 6, 2006) - Rival Technologies Inc. (PINK SHEETS:RVTI) announced today its oil and gas subsidiary, TRU Oiltech, is commencing a new and potentially groundbreaking series of tests on its TRU technology. Testing of the patent pending technology will be supervised by Dr. Pedro Pereira, an internationally recognized heavy oil expert, and Klaus Oehr, a founding partner and Director of Research and Development for TRU Oiltech. The tests will run for the next two weeks.

"We expect the tests to provide a major breakthrough for heavy oil and oil sands upgrading and establish the commercial viability of our technology," stated Robin J. Harvey, President of Rival Technologies Inc.

Rival Technologies Inc., with its subsidiary TRU Oiltech, are developing a proprietary process for upgrading heavy oil and oil sands bitumen, with the objective of significantly reducing production costs. The company's strategy will be to license the process to producers in exchange for a capacity license fee and royalty payments.

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

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