Rival Technologies Inc.
PINK SHEETS : RVTI

Rival Technologies Inc.

December 18, 2006 09:01 ET

Rival Technologies Inc.-TRU Oiltech Completes Testing With Positive Results

LAS VEGAS, NEVADA--(CCNMatthews - Dec. 18, 2006) - Rival Technologies Inc. (PINK SHEETS:RVTI) oil and gas subsidiary, TRU Oiltech, reports that current testing of its proprietary, heavy oil upgrading process will be completed this week. Initial test results have been positive and indicate that the TRU precess is improving distillate yield from the bitumen samples. A major breakthrough in oil sands upgrading is expected from this current round of testing.

Testing has been conducted at the Schulich School of Engineering research laboratory, located at the University of Calgary, Alberta, Canada. The testing, executed in this laboratory environment, utilized a customized catalytic reactor to emulate a model pilot plant processing cycle. All tests were executed under the supervision of Klaus Oehr and Dr. Pedro Pereira, and the development team.

Each test emulated a production process cycle and lasted approximately 14 hours. The sample feed stock was introduced at ambient temperature then subjected to staged temperature and pressure increases over specific time periods as the TRU process was introduced. Throughout each stage of each test, feedstock samples were extracted and delivered to an onsite gas chromatography unit for real-time analysis. At the completion of each test run, the resulting end product was subjected to rigorous chemical properties analysis. "All data analysis will be completed in early January," stated Klaus Oehr.

"Interest in our proprietary process and the Alberta Oil Sands in general continues to grow. We're very pleased with our 2006 research and development activities and look forward with great anticipation to 2007!" stated Robin Harvey, President of Rival Technologies Inc.

TRU Oiltech Inc. is developing a proprietary process for upgrading heavy oil and oil sands bitumen, which will significantly reduce oilsands production costs. The company's strategy is to license the process to major producers, in exchange for a capacity license fee and royalty payments. The company is currently exploring strategic partnerships with a major oil company to develop a suitable joint venture - pilot project.

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. Rival has filed several provisional patents and patent applications and is focused on licensing its technology for industry use.

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
    President
    1-888-989-0584
    Website: www.rvti.com