Rival Technologies Inc.

Rival Technologies Inc.

December 13, 2006 09:01 ET

Rival Technologies Inc.-TRU Oiltech Update on Process Testing

LAS VEGAS, NEVADA--(CCNMatthews - Dec. 13, 2006) - Rival Technologies Inc., (PINK SHEETS:RVTI) oil and gas subsidiary, TRU Oiltech, reports the first results from testing of its proprietary, heavy oil upgrading process have been received.

Initial test results are positive and indicate the process is improving distillate yield from the bitumen sample. Complete data and further details will be reported early next week.

"Testing will be completed this week and we will be able to report complete data and results early next week." Adding, "I would like to thank Sandy Constable, Klaus Oehr, Dr. Pereira and the development team in Calgary, Alberta for their diligent and continuous efforts throughout the testing process." 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 actively pursuing a major joint venture - pilot project partner.

Cost reductions realized through improvements to existing heavy oil upgrading processes position Rival Technologies Inc. to participate in an industry sector worth hundreds of millions of dollars.

Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies with extraordinary market potential. Rival has filed several provisional patents and patent applications and is now focused on licensing its technology for industry use.

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