HENDERSON, Nev., Dec. 1, 2009 (GLOBE NEWSWIRE) -- RIVAL Technologies Inc. (OTCBB:RVTI) announced today that it has agreed to terms and issued the initial purchase order for supply of basic engineering on its first TRU process, continuous feed pilot plant.
Terms of the order are subject to a confidentiality agreement between the parties and will be announced upon successful completion of the work, expected within eight to ten weeks.
This phase will finalize detailed costs, design, procurement and fabrication of the plant including operating requirements of the process. Process and instrumentation diagrams, specification sheets for major equipment, and a preliminary electrical layout are also included. Construction will begin immediately following a review of this information.
Total oil resources worldwide are estimated at roughly 9 to 13 trillion barrels of which 30% are conventional. Oil sands, heavy oil and bitumen make up the remaining unconventional 70%. Before moving from the field to the refinery unconventional resources will need to be upgraded and represent the prime market for the TRU process technology.
'Douglas B. Thomas' President & CEO Rival Technologies Inc.
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