The Asphalt Ridge oil is said to contain a high percentage of hydrocarbons that are diesel range organics, with a very low sulphur content at 0.5% and less, making it ideal to manufacture diesel, or more specifically, ultra low sulphur diesel.
The low sulphur also solves economic issues, as extra cash will not be needed for the removal of the sulphur before it can be refined into a finished petroleum product.
This follow Mayan Energy's announcement on Wednesday that Petroteq signed a six-month distribution and transportation deal with Firebird Logistics LLC for all production from the heavy oil extraction facility at Asphalt Ridge.
Following the six-month term, the contract will run on a month-by-month basis.
Mayan's 18% investee Deloro Energy LLC recently completed the first tranche of its
Shares in Mayan Energy were down 1.1% at
