Exclusive Interview with Marcus Laun, CEO of Key Domestic Petroleum Developer Sky Quarry Inc. (Nasdaq: SKYQ)

The proposed financing would go directly to Nevada producers and projects rather than require additional SKYQ common equity.

Rhea-AI Summary

Sky Quarry (Nasdaq: SKYQ) has restarted its Eagle Springs Refinery near Ely, Nevada, after receiving an environmental permit. The refinery, operated by wholly owned Foreland Refining, has capacity of approximately 5,000 barrels per day. Sky Quarry invested approximately $300,000 in repairs and upgrades and holds approximately 15,000 barrels of crude inventory.

A proposed Nevada exploration and production initiative targets up to $50 million of third-party investment directly in producers and projects, rather than issuing SKYQ common equity. Potential crude purchase agreements could connect those producers with the refinery. Sky Quarry is also discussing a potential PR Spring collaboration involving 7-megawatt power generation capacity. The company expects production to ramp up through 2027 and estimates its Utah oil sands lease contains the equivalent of approximately 180 million barrels of oil.

8 points · 1 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointEagle Springs Refinery restarted operations after receiving a Nevada Division of Environmental Protection permit.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Up to $50 million in proposed third-party investment would fund Nevada producers without issuing additional SKYQ common equity. 2.5× market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Potential long-term crude purchase agreements could supply the refinery; Sky Quarry sees opportunities to lower feedstock costs.
• Minor pointApproximately 5,000 barrels per day of refinery capacity supports the restarted Nevada operation.
• Minor point. Forward-looking: it has not happened yet and may not happen.Approximately 15,000 barrels of crude inventory is on hand; Sky Quarry expects additional supply as operations progress.

3 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.PR Spring collaboration under discussion involves potential 7-megawatt power generation capacity.
• Minor point. Forward-looking: it has not happened yet and may not happen.Utah oil sands lease is expected to contain the equivalent of approximately 180 million barrels of oil.
• Minor point. Forward-looking: it has not happened yet and may not happen.Production ramp-up through 2027 is expected; Sky Quarry's longer-term objective is revenue contributions from both facilities.

Negative

• Moderate pointNevada investment initiative remains proposed; producer selection and financing structures are still being evaluated.
• Minor pointApproximately $300,000 was invested in refinery repairs and upgrades identified through an assessment commissioned in 2025.
• Minor point. Forward-looking: it has not happened yet and may not happen.Potential feedstock benefits depend on successful drilling, acceptable crude quality and commercially favorable purchase terms.
• Minor pointPR Spring collaboration remains potential and is still under discussion.

Key Figures

Refinery capacity: approximately 5,000 barrels of crude oil per day Crude oil inventory: approximately 15,000 barrels Third-party investment target: up to $50 million +3 more

Refinery capacity

approximately 5,000 barrels of crude oil per day

Eagle Springs Refinery

Crude oil inventory

approximately 15,000 barrels

On hand

Third-party investment target

up to $50 million

Proposed Nevada exploration and production initiative

Power generation capacity

7 megawatts

Potential collaboration at PR Spring

Nevada oil resources

approximately 1.4 billion barrels

Undiscovered, technically recoverable resources on federal lands

Utah oil sands resource

approximately 180 million barrels of oil equivalent

Sky Quarry Utah asset

Historical Context

1 past event · Latest: Sep 24

1 event

1. Sep 24

   Refinery restart

   24h Move

   +14.8%

   Nevada air permit cleared restart; notice stated 5,000-barrel-per-day capacity, not actual production.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

vacuum gas oil, farm-in, offtake arrangements, technically recoverable

4 terms

vacuum gas oil technical

"produces diesel, vacuum gas oil, naphtha and liquid paving asphalt"

Vacuum gas oil (VGO) is a heavy, oily intermediate produced during crude oil refining that serves as the raw feedstock for further processing into diesel, gasoline components and petrochemical products. Think of it as the dough a bakery refines into different breads and pastries; its price and availability influence refinery profit margins, product supplies and fuel costs, so investors watch VGO markets to gauge downstream energy sector economics.

farm-in financial

"discussions regarding its farm-in opportunity at its PR Spring facility"

A farm-in is a contractual deal where one company agrees to take on part of another party’s ownership in an exploration or development project—often in oil, gas, or mining—by meeting specified obligations such as paying costs, funding work programs, or drilling wells to earn the interest. It matters to investors because it changes who pays for future costs, shifts risk and potential rewards between partners, and can accelerate project activity much like bringing in a partner who pays for and does the heavy lifting on a shared venture.

offtake arrangements financial

"may also enter into long-term crude oil offtake arrangements"

Offtake arrangements are contracts where a buyer agrees to purchase a company's future production or output—such as raw materials, energy, or manufactured goods—often before those goods are produced. They matter to investors because they create predictable revenue and reduce sales and price risk, making cash flow and project financing more secure; like a farmer pre-selling a crop to guarantee income, they can materially affect a company’s valuation and risk profile.

technically recoverable technical

"1.4 billion barrels of undiscovered, technically recoverable oil resources"

An estimate of the amount of natural resource (like oil, gas, coal, or minerals) that can be produced using current technology and engineering methods, without considering whether extraction would be profitable, legal, or environmentally allowed. It matters to investors as a measure of the size of a resource base—similar to counting apples on a tree that can be reached with present tools, even if picking them might cost more than they’re worth.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SKYQ Holds High Value Assets in the Increasingly Important Western US Region and is Actively Engaged in Expanding Operations

WOODS CROSS, Utah, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today announced the availability of a Exclusive Interview with Marcus Laun, CEO of Key Domestic Petroleum Developer Sky Quarry Inc.

Sky Quarry Inc. is an energy infrastructure company focused on domestic refining and resource development. Through its wholly owned subsidiary, Foreland Refining Corporation, SKYQ operates the Eagle Springs Refinery near Ely, Nevada, which produces diesel, vacuum gas oil, naphtha and liquid paving asphalt. SKYQ is also developing its PR Spring facility in Utah to recover hydrocarbons and other marketable materials from waste asphalt shingles and oil-bearing resources.

The SKYQ vision is to become a premier products sales company committed to sustainable energy practices while maximizing profit margins and creating value for shareholders and customers.

EXCLUSIVE CEO INTERVIEW:

On October 13, 2026 SKYQ CEO Marcus Laun sat down with Corporate Ads to conduct the following interview for the benefit of SKYQ shareholders and other investors. This transcript is exclusive to the distribution of the Corporate Ads investor awareness program.

Corporate Ads: 

Thank you for meeting us, Mr. Laun. We very much appreciate your time for the benefit of our audience.

Marcus Laun:

Well, with so many important developments happening for Sky Quarry now, I am glad to have opportunities like this to get the details out so everyone can get the best picture of what we are accomplishing and moving forward on at this time.

Corporate Ads:

SKYQ just announced it has received a permit from the Nevada Division of Environmental Protection and has restarted operations at its Eagle Springs Refinery near Ely, Nevada. Can you tell us more about this project?

Marcus Laun:

Yes, the refinery is operated by Sky Quarry’s wholly owned subsidiary, Foreland Refining Corporation. So, with our Nevada refinery returning to production and also our Utah operations moving toward commercialization, Sky Quarry is supporting new and much needed energy production in the western US market. Nevada especially has relied on fuel refined elsewhere for too long. Our objective is to make Nevada-refined products more available for the region's supply.

Corporate Ads:

What is the production capacity that SKYQ can expect to deliver from the Nevada, Eagle Springs site? Have you made preparations to bring it up to full capacity?

Marcus Laun:

Sky Quarry invested approximately $300,000 for repairs and upgrades identified through an assessment commissioned in 2025. Eagle Springs has a capacity of approximately 5,000 barrels of crude oil per day. The Company has approximately 15,000 barrels of crude oil inventory on hand and expects additional supply as operations progress.

Corporate Ads:

What kind of oil resources potential is there for long term development from Nevada?

Marcus Laun:

Federal lands in Nevada are estimated to contain approximately 1.4 billion barrels of undiscovered, technically recoverable oil resources. With more Nevada crude coming to market, Sky Quarry could refine barrels in-state and grow with the state’s own oil industry.

Corporate Ads:

And SKYQ has important power generation projects in its business plan as well, right?

Marcus Laun:

Sky Quarry is in discussions regarding its farm-in opportunity at its PR Spring facility in Utah to recover hydrocarbons and other marketable materials from waste asphalt shingles and oil-bearing resources. This is a potential collaboration involving 7-megawatt power generation capacity.

Corporate Ads:

SKYQ has announced a proposed Nevada oil exploration and production initiative targeting up to $50 million of third-party investment in qualified exploration and production companies. Can this financing substantially boost production to unlock a lot more resources in the near term?

Marcus Laun:

The objective is to accelerate the development of new domestic crude oil resources while potentially providing Sky Quarry's Nevada refining operations with access to lower-cost regional feedstock. And this is quite important for shareholders; investments would be made directly in participating Nevada producers and projects rather than through the issuance of additional SKYQ common equity. So, we can support new drilling operations while avoiding any dilution to existing the company’s share structure. It’s a win-win situation for everyone.

Corporate Ads: 

So, what specifically will SKYQ do to help facilitate these additional drilling operations?

Marcus Laun:

Sky Quarry plans to assist qualified producers via access to investment banking, private credit and institutional capital relationships. The Company may also enter into long-term crude oil offtake arrangements with participating producers.

Corporate Ads: 

Does this mean that these additional producers could potentially become part of the SKYQ operation directly?

Marcus Laun:

Successful production developed under the program could potentially be purchased by Sky Quarry's refining operations in Nevada, creating a direct connection between upstream resource development and the Company's downstream refining infrastructure.

Corporate Ads:

Do you see this type of program that SKYQ will offer as meeting an unfulfilled need in the current US oil developer marketplace?

Marcus Laun:

Oil producers can face serious challenges in securing drilling capital. Long-term offtake arrangements with a regional refining operation may provide qualified producers with greater confidence and may enhance their ability to obtain development financing. For Sky Quarry, locally produced crude could reduce transportation expenses and decrease reliance on feedstock sourced from more distant markets. Successful drilling, acceptable crude quality and commercially favorable offtake terms lower delivered feedstock costs could support higher refinery utilization, stronger operating margins and improved cash flow.

Corporate Ads:

Why is this Nevada development plan such a focal point for western US oil resources at this time? And what benefits does this hold for SKYQ?

Marcus Laun:

The initiative comes as Nevada evaluates the resilience of its fuel supply following refinery closures in California. Nevada receives a substantial portion of its transportation fuel from surrounding markets, including California. In light of this, the State of Nevada has formed a Fuel Resiliency Committee to evaluate potential risks to fuel availability and opportunities to strengthen Nevada's access to reliable fuel supplies.

Sky Quarry strongly feels that increasing local crude oil production could complement these statewide efforts by supporting domestic resource development, much needed skilled employment and more dependable balance from a diversified location fuel supply system.

Corporate Ads:

So what are the next steps that your SKYQ team will be focused on to advance the company’s stated objectives?

Marcus Laun:

Of course we are working to evaluate potential Nevada producer and project participants and review all pertinent geological, technical, regulatory and financial information. Sky Quarry will also assist selected participants in developing proposed financing structures and evaluate preliminary crude oil offtake terms.

Corporate Ads:

And working closely with your selected program participants SKYQ as a workable game plan to get the most return on investment from this cooperative effort, yes?

Marcus Laun:

We will assess crude quality, transportation requirements and compatibility with the Sky Quarry refining operations and then develop drilling and development schedule proposals with all the participating parties to optimize everyone’s resources and timelines.

Corporate Ads:

What about the SKYQ Utah assets, including your oil sands lease and facilities there?

Marcus Laun:

The Sky Quarry Utah asset sits on an oil sands lease expected to contain the equivalent of approximately 180 million barrels of oil. As the US continues to focus on domestic petroleum resources, we believe Utah's oil sands will become an important and growing region for our country in the years ahead.

Corporate Ads:

And with SKYQ efforts moving forward in both Nevada and Utah now what can investors anticipate for the balance of 2026 and into 2027?

Marcus Laun:

Everyone following Sky Quarry can expect to see a continued ramp up in our production through 2027. We recently hired a highly experienced refinery manager to lead Nevada operations, allowing our team to focus on business development and growth opportunities in Utah. Our longer-term objective is to have both facilities contributing meaningfully to revenue generation as we execute on our planning and goal attainment.

Corporate Ads: 

And how do you see the overall market environment for this time frame relating to the SKYQ business plan?

Marcus Laun:

The western United States region continues to face refining capacity constraints, while global diesel supply remains pressured as well. Current market conditions have resulted in strong refinery operating margins, and we believe these conditions create significantly wider opportunity for Sky Quarry as we scale operations.

Corporate Ads: Thank you so much Marcus Laun, CEO of Sky Quarry, SKYQ, for your time and very detailed commentary today. We always appreciate the opportunity to learn more about a developing growth story like SKYQ direct from the CEO who is aways the best source of investor information. Investors should certainly benefit from the insights you have provided today.   

About Sky Quarry Inc.

Sky Quarry Inc. is an energy infrastructure company focused on domestic refining and resource development. Through its wholly owned subsidiary, Foreland Refining Corporation, the Company operates the Eagle Springs Refinery near Ely, Nevada, which produces diesel, vacuum gas oil, naphtha and liquid paving asphalt. Sky Quarry is also developing its PR Spring facility in Utah to recover hydrocarbons and other marketable materials from waste asphalt shingles and oil-bearing resources. For more information, visit Sky Quarry's corporate website at https://skyquarry.com.

Mission:

Sky Quarry Inc. (Nasdaq: SKYQ) is an integrated energy solutions company focused on converting waste asphalt shingles into sustainable oil and other resources through its proprietary ECOSolv technology, while also operating refining assets. Sky Quarry is revolutionizing asphalt shingle recycling, diverting waste from landfills, reducing emissions, and pursuing a waste-to-energy model.

The Sky Quarry vision is to become a premier products sales company committed to sustainable energy practices while maximizing profit margins and creating value for shareholders and customers.

Sky Quarry Inc. was incorporated in the state of Delaware on April 22, 2020.

For more information on SKYQ visit:  https://skyquarry.com

Media Contact
Company Name: Sky Quarry Inc. (Nasdaq: SKYQ)
Contact Person: Marcus Laun, CEO
Email:  ir@skyquarry.com or shareholdercommunity@skyquarry.com
Phone: (424) 394-1090
Country: United States

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "expect," "anticipate," "believe," "intend," "plan," "will," "may," "should," "estimate," "potential," "project," "continue," and similar expressions, or the negative of such terms. These forward-looking statements include, but are not limited to, statements regarding the refinery's operating ramp-up, the availability of crude oil feedstock, the Company's ability to sustain operations, nameplate capacity, regional refining capacity and market demand, and potential Nevada oil development and PR Spring opportunities. These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to: risks related to the Company's ability to ramp up and sustain refinery operations; fluctuations in crude oil prices, refined product prices, and refining margins; the Company's ability to obtain adequate supplies of crude oil feedstock at competitive prices; regional competition from other refineries and fuel suppliers; changes in demand for refined products in the Western United States; the Company's ability to attract and retain customers; risks associated with the operation of refining facilities, including equipment failures, unplanned downtime, and regulatory compliance requirements; the Company's ability to manage costs and maintain operational efficiency; the availability and cost of labor, equipment, and materials; changes in environmental, health, safety, or other regulations affecting the refining industry; the Company's ability to maintain adequate liquidity and working capital to support operations; general economic conditions, including inflation, interest rates, and recessionary pressures; and other factors described in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date hereof, and except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

DISCLAIMER: https://corporateads.com/disclaimer/   Disclosure listed on the CorporateAds website

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Sky Quarry's restarted Eagle Springs Refinery capacity?

Eagle Springs has capacity of approximately 5,000 barrels of crude oil per day. The refinery near Ely, Nevada, is operated by Sky Quarry's wholly owned subsidiary, Foreland Refining, and restarted after receiving a Nevada Division of Environmental Protection permit.

Would Sky Quarry's proposed $50 million Nevada initiative dilute SKYQ shareholders?

The proposed initiative targets up to $50 million of third-party investment directly in participating Nevada producers and projects, rather than through additional SKYQ common equity. Sky Quarry plans to help qualified producers access investment banking, private credit and institutional capital relationships.

How will Sky Quarry evaluate producers for its Nevada oil development initiative?

Sky Quarry plans to review potential participants' geological, technical, regulatory and financial information. It will assess crude quality, transportation requirements and compatibility with its refinery, help selected participants develop proposed financing structures, evaluate preliminary crude purchase terms and develop drilling and development schedule proposals.