In September 2005, Rival Technologies Inc. purchased a technology with the potential to provide an upgrading process for heavy crude and oil sands bitumen. TRU Oiltech Inc. was created, laboratory scale research and development rejuvenated, resulting in a next generation primary upgrading technology, the TRU™ process. The process cost effectively produces a premium, pipeline grade, synthetic crude oil branded TRULITE^® and is now ready for continuous feed pilot testing by heavy oil producers and refiners worldwide.

KEY POINTS

• Delivers an ultra high yield, pipeline grade synthetic crude oil with a premium price when compared to dilbit and other synthetics.
  
  
• Captures significant portion of heavy to light differential.
  
  
• Eliminates blending bitumen with diluent (dilbit) or synthetic crude (synbit) for pipeline transportation to refinery.
  
  
• Circulating fluidized bed combustion (CFBC) option reduces natural gas requirements for SAGD steam generation.
  
  
• CFBC option produces sufficient steam for SAGD injection wells.
  
  
• Generates sufficient energy to produce project electricity needs.
  
  
• Economic barriers to entry removed via major CAPEX reduction.
  
  
• Economies of scale at 25,000 BPD (barrels per day).
  
  
• Eliminates noxious emissions.
  
  
• Value added by-products- ammonium sulphate fertilizer, asphalt.
  
  

Doug Thomas
President & CEO,
Rival Technologies Inc.
Managing Director, TRU Oiltech Inc.

Doug has a marketing background spanning thirty years and brings extensive worldwide oilfield experience to the company. His experience, gained from successful introductions of oilfield products to markets in North and South America, Russia, China and Australia, is a most beneficial resource as the company moves from research and development to commercialization of its process technology.

Sandy Constable, P.Eng.
Founding Partner,
President TRU Oiltech Inc.

Sandy is a resource economist with over thirty years of experience in energy and environmental issues. His academic studies include engineering, mathematics and economics. He is most experienced with respect to technology development and technology assessment and brings years of international project experience in Chile, Australia, Malaysia, and elsewhere.

Klaus Oehr, M.A.Sc.
Founding Partner,
Director, Research, Development and Intellectual Property,
TRU Oiltech Inc.

Klaus is an accomplished chemist and recognized intellectual property expert. Over 35 years of experience in chemical and electrochemical research and development, he has been involved in the creation of 20 products and processes. He has also authored or co-authored 14 published scientific articles of which 11 have been presented at professional conferences. Klaus was co-developer of cyanide waste treatment technology which was the first winner of the Chemical Institute of Canada Environmental Improvement Award.

Rival Technologies is making steady progress towards technology commercialization.  Below is an example of a projected market capitalization for Rival following field  deployment of the TRU™ process: 

Projection - Market Capitalization

 Economies of scale are achieved  using the TRU™ process at the 25,000 BPD production level.  SAGD projects are developed in  four phases reaching 100,000 BPD production over a three to five  year span.

Using a July 2007 Value comparison model and industry standards for valuing IP technologies, a potential market cap is projected below: 

Single SAGD Project

S     Phase I production @ 25,000 (barrels per day) BPD x 350 operating days per year = 8,750,000 barrels of bitumen annual production

S     Projected net profit of $1.50/barrel = $13,125,000 annualized

S     Shares outstanding :  47,182,560 =  Net Profit per share of 0.27 cents - Phase One

 

S     Full production ( 8,750,000 x 4 phases) = 35,000,000 barrels  annual production

S     projected net profit of $1.50 per barrel = $52,500,000 annualized

S     Current total shares outstanding of 47,182,560 = Net Profit per share of $1.11            at full production 

S     Phase One:       Projected  Market Capitalization  =  $197 million

S     Full Revenue:    Projected  Market Capitalization  = $ 787 million

   *conversion rate US$.95=Can$1.00

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