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

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”

Marcus Laun, CEO of Sky Quarry Inc.

“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.”