Rival Technologies Inc.

Rival Technologies Inc.

November 28, 2006 09:02 ET

Rival Technologies Inc.-Update from TRU Oiltech on Proprietary Process Testing

LAS VEGAS, NEVADA--(CCNMatthews - Nov. 28, 2006) - Rival Technologies Inc.'s (PINK SHEETS:RVTI) oil and gas subsidiary, TRU Oiltech, reports its proprietary process will begin the second phase of testing early next week. 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.

"Setup and baseline testing of the facility is nearly complete, and we expect the second phase of tests to commence early next week. This second phase will consist of six separate cycles and is expected to last approximately two weeks," stated Sandy Constable, President of TRU Oiltech Inc.

TRU Oiltech is in the final stages of proving its proprietary process for upgrading heavy oil and oil sands bitumen, with the objective to significantly reduce oil sand production costs. The company's strategy is to license the process to major producers, in exchange for a capacity license fee and royalty payments.

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