eTradeWire -- With Oil Prices Surging…Sky Quarry's Nevada Refinery Is Back in Action — CEO Highlights a Powerful New Growth Chapter for (N A S D A Q: SKYQ)

With Eagle Springs restarted, 5,000-barrel-per-day capacity, a proposed $50 million non-dilutive Nevada oil initiative and a substantial Utah resource opportunity, Sky Quarry is advancing its vision of a more integrated Western U.S. energy platform

Sky Quarry Inc. N A S D A Q: SKYQ) $SKYQ is entering an important new chapter as its management team works to translate operational milestones recently achieved into a broader growth strategy. With its Eagle Springs Refinery in Nevada back in operation, CEO Marcus Laun has been sharing the company's vision with investors through a series of interviews and investor-outreach initiatives, highlighting the potential of Sky Quarry's refining infrastructure, regional oil-development strategy and Utah assets.

The latest major company news available as of October 22 includes Sky Quarry's October 14 announcement of an exclusive CEO interview and its October 12 announcement of Laun's participation in the 2026 ThinkEquity Conference. Together, these developments reinforce the company's focus on communicating its operational progress and longer-term opportunities to the investment community.

Eagle Springs: A Major Operational Milestone

The centerpiece of Sky Quarry's story is the restart of its Eagle Springs Refinery near Ely, Nevada, operated by wholly owned subsidiary Foreland Refining Corporation.

On September 24, Sky Quarry announced that it had received an air permit from the Nevada Division of Environmental Protection and restarted refinery operations. The company completed approximately $300,000 in repairs and upgrades identified through an assessment commissioned in 2025.

The refinery has a stated nameplate capacity of approximately 5,000 barrels of crude oil per day, and Sky Quarry reported approximately 15,000 barrels of crude inventory on hand at the time of the restart announcement. The company has identified ramping operations toward the facility's full potential as a key objective.

For investors, this milestone gives Sky Quarry an operating industrial asset around which it can pursue additional opportunities in regional fuel supply, crude procurement and product sales.

The refinery produces diesel, vacuum gas oil, naphtha and liquid paving asphalt—products serving different segments of the energy and infrastructure markets.

CEO Outreach Brings the Growth Strategy Into Focus

Sky Quarry's October 14 announcement featured an exclusive interview with Marcus Laun, providing another opportunity for investors to hear management's perspective on the company's assets and plans. Earlier, on October 5, the company released a SmallCapVoice interview discussing the refinery restart, operational progress and the objective of advancing both Nevada and Utah operations.

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In that earlier interview, Laun described Sky Quarry as being in the final stages of a turnaround, citing working capital, an operating refinery and a defined growth strategy.

The message is significant: management is now focused on building from the refinery restart while developing additional opportunities that could contribute to the company's longer-term business.

Investors can review the company's October 5 SmallCapVoice interview here:

Watch the interview: https://youtu.be/Z_E9MExplnY



Sky Quarry also announced on October 12 that Laun would present at the 2026 ThinkEquity Conference in New York on October 15. The presentation was expected to cover the Nevada refinery, refining-market fundamentals and the company's Utah oil-sands opportunity.

These investor-engagement efforts provide a platform for management to explain the strategy and discuss how the company intends to advance its assets.

The Proposed $50 Million Nevada Oil Initiative

One of the most intriguing elements of Sky Quarry's strategy is its proposed Nevada oil exploration and production initiative, targeting up to $50 million in third-party investment in qualified producers and projects.

The contemplated structure is designed to direct investment into participating producers and projects rather than issuing additional Sky Quarry common equity to fund those investments. That is why the company describes the initiative as non-dilutive to SKYQ shareholders under the proposed structure.

The strategic objective is to encourage more regional oil development while potentially creating access to suitable crude for the Foreland refinery.

If additional Nevada production becomes commercially available, Sky Quarry believes it could benefit from shorter transportation distances, a more diversified supply base and improved flexibility in sourcing feedstock.

The opportunity connects upstream resource development with downstream refining infrastructure—an approach that could become increasingly valuable if the company successfully executes its plans.

Nevada's Resource Potential Adds Long-Term Opportunity

Sky Quarry has also highlighted federal oil and gas leasing activity in Nevada and a U.S. Geological Survey estimate of approximately 1.4 billion barrels of undiscovered, technically recoverable oil resources on federal lands in the state.

This estimate refers to Nevada's broader geological potential, not oil reserves owned by Sky Quarry. Nevertheless, it illustrates why management sees an opportunity to participate in a developing regional energy market.

With Eagle Springs positioned to process suitable crude, the company hopes to benefit if additional production, supply arrangements and commercially attractive transportation economics emerge.

Utah Could Expand the Company's Growth Potential

Beyond Nevada, Sky Quarry is advancing its PR Spring facility in Utah, where it aims to recover hydrocarbons and other marketable materials from oil-bearing resources and waste asphalt shingles.

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The company has described its Utah oil-sands lease as representing an estimated resource equivalent to approximately 180 million barrels of oil. This is a resource estimate for an exploration-stage property, not proven reserves, and commercialization will depend on successful development and operating economics.

Sky Quarry has also reported discussions regarding a potential PR Spring farm-in opportunity and collaboration involving approximately 7 megawatts of power-generation capacity.

If the company progresses these initiatives successfully, Utah could provide another avenue for growth alongside the Nevada refinery.

ECOSolv: Connecting Energy With Resource Recovery

Sky Quarry's broader business model includes its proprietary ECOSolv technology, designed to recover oil and other useful materials from discarded asphalt shingles.

The company's mission centers on conserving resources, diverting waste from landfills and reducing emissions while developing commercially viable products for energy and infrastructure markets.

This approach adds a resource-recovery dimension to the company's conventional refining business. Over time, the combination of refining, oil-resource development and recycling could offer multiple avenues for commercial expansion.

What Comes Next for SKYQ?

The next phase is about execution: increasing refinery utilization, building dependable feedstock supply, expanding customer relationships and advancing the Utah facility toward commercialization.

Key developments investors will want to follow include:

• Nevada refinery ramp-up: Progress toward the Eagle Springs facility's stated 5,000-barrel-per-day nameplate capacity.
• Regional oil supply: Advancement of the proposed $50 million third-party investment initiative and potential feedstock arrangements.
• Utah development: Progress at PR Spring, including the potential farm-in and power-generation discussions.
• Commercial execution: Evidence that operational progress translates into sustainable revenue and stronger financial performance.

Sky Quarry's story has gained a new dimension with the Eagle Springs restart. The company now has an operating refinery, an articulated plan for increasing production and additional development opportunities that could expand its energy platform.

For investors following Sky Quarry Inc. (N A S D A Q: SKYQ), the combination of Nevada refining infrastructure, regional oil-development ambitions and Utah resource-recovery opportunities make the company's next operational milestones particularly important.

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

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

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