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MANAGEMENT TEAM
DAVID SEALOCK
Chief Executive Officer
David Sealock is a highly accomplished, results driven senior executive leader with over 26 years of strategic management and business/digital transformation leadership. He has a track record of building high-performing teams with a strong focus on setting corporate strategy, executing for results, leading teams, galvanizing relationships, connecting corporate activities and translating ideas into action. Prior to joining Petroteq, Mr. Sealock served as President of Autus Ventures, where he established equity financing processes for startup and intermediate oil and gas companies and managed strategic planning and portfolio optimization. Prior to that, he was Vice President of Research & Development at Petroleum Technology Alliance Canada (PTAC), a Canadian hydrocarbon industry association that serves as a neutral non-profit facilitator of collaborative R&D and technology development. There he managed the coordination and services to facilitate the implementation of specific methane related projects. In 2014 and 2015, Mr. Sealock served as President and COO of Sulvaris. During his tenure at Sulvaris, he collaborated to deliver equity financing and JV financing to recommence project construction.
From 2008 to 2014, Mr. Sealock was the EVP of Sunshine Oilsands, and was promoted to President & CEO (Interim) from 2013 to 2014, where he managed daily operations for: Engineering, construction, technology, operations, regulatory, human resources, investor relations, health, safety & environment, marketing, supply chain management, IT & systems, and corporate governance. From 2007-2008 he served as vice president of MegaWest Energy Corp. (now Gravis Energy) and prior to that he was Senior Manager of Total E&P (formerly Deer Creek Energy, Ltd.), where he was charged with leading a large scale business & digital transformation to integrate Deer Creek Energy's technology infrastructure into Total's enterprise-wide global infrastructure. Mr. Sealock holds a Bachelor's degree in Business Management and is a Registered Engineering Technologist with ASET.
MANAGEMENT TEAM
DAVID SEALOCK
Chief Executive Officer
David Sealock is a highly accomplished, results driven senior executive leader with over 26 years of strategic management and business/digital transformation leadership. He has a track record of building high-performing teams with a strong focus on setting corporate strategy, executing for results, leading teams, galvanizing relationships, connecting corporate activities and translating ideas into action. Prior to joining Petroteq, Mr. Sealock served as President of Autus Ventures, where he established equity financing processes for startup and intermediate oil and gas companies and managed strategic planning and portfolio optimization. Prior to that, he was Vice President of Research & Development at Petroleum Technology Alliance Canada (PTAC), a Canadian hydrocarbon industry association that serves as a neutral non-profit facilitator of collaborative R&D and technology development. There he managed the coordination and services to facilitate the implementation of specific methane related projects. In 2014 and 2015, Mr. Sealock served as President and COO of Sulvaris. During his tenure at Sulvaris, he collaborated to deliver equity financing and JV financing to recommence project construction.
From 2008 to 2014, Mr. Sealock was the EVP of Sunshine Oilsands, and was promoted to President & CEO (Interim) from 2013 to 2014, where he managed daily operations for: Engineering, construction, technology, operations, regulatory, human resources, investor relations, health, safety & environment, marketing, supply chain management, IT & systems, and corporate governance. From 2007-2008 he served as vice president of MegaWest Energy Corp. (now Gravis Energy) and prior to that he was Senior Manager of Total E&P (formerly Deer Creek Energy, Ltd.), where he was charged with leading a large scale business & digital transformation to integrate Deer Creek Energy's technology infrastructure into Total's enterprise-wide global infrastructure. Mr. Sealock holds a Bachelor's degree in Business Management and is a Registered Engineering Technologist with ASET.
OIL SANDS SUPPLY
Petroteq currently owns the Temple Mountain Mine lease, in the area known as Asphalt Ridge, just south of Vernal, Utah.
This lease contains an estimated 87,495 MSTB (Thousands of Stock Tank Barrels) of mineable Bitumen Resources in Place, classified as a "Contingent Resource" under current NI 51-101 and COGEH criteria, as disclosed in an independent resource evaluation report prepared by Chapman Petroleum Engineering Ltd. (2018). These volumes are expected to support very positive mining economics.
In 2015, JT Boyd Mining and Geological Consultants was commissioned to perform an economic evaluation of the cost of mining this oil sands resource. Their report confirmed very attractive mining costs for the Asphalt Ridge oil sands ore, based on a detailed economic analysis of all major mining functions (drilling, blasting, overburden removal, oil sands mining and mine reclamation, maintenance). Based upon three separate scenarios, mining costs are estimated to range between $5.35 and $5.76 per ton of oil sands ore. Low mining costs are due, in part, to the fact that Petroteq's oil sands resource is directly at, or just beneath, the surface so that minimal overburden (non-ore material) removal is required. These low mining costs, combined with low processing costs by Petroteq's proprietary, closed-loop, solvent-based process, will result in significantly lower per barrel production costs than the costs for traditional hot water-based oil sands extraction technologies.
Both the Chapman and the JT Boyd reports were prepared, in part, from a wealth of oil sands exploration information that had been obtained by Petroteq as part of the acquisition of the lease. This exploration information included detailed well logs from approximately 99 core holes that had been drilled on the lease. These well logs identified both the thickness and richness of the oil sands lenses beneath the lease. Individual oil sands lenses range in thickness from 5 to 25 feet and contain oil sands ore with an average of 6% to 12% bitumen.
https://petroteq.energy/operations/oil-sands-supply
https://petroteq.energy/operations/utah-oil-asset
Utah Tar Sand Summary
Tar Sand Triangle 16.0 billion bbl
P.R. Spring 4.5 billion bbl
Hill Creek 1.2 billion bbl
Other Deposits 1.4 billion bbl
Sunnyside 6.0 billion bbl
Asphalt Ridge 1.5 billion bbl
Circle Ridge 1.1 billion bbl
White Rocks 0.3 billion bbl
Total Shallow Oil 32.0 billion bbl
Utah's Bureau of Land Management oversees all matters pertaining to mineral resource and oil and gas development, covering over 22.9 million acres of land throughout the state. In the Vernal area, BLM's jurisdiction covers over 5,500,000 acres. A limited amount of oil sands production occurred in the late 1970s and early 1980s, but inefficient technologies and extremely low oil prices brought much of these operations to a halt. Recently, though, the U.S. interest in increasing domestic energy sources has intensified technological advances such as Petroteq's Liquid Extraction System, prices have increased dramatically and the occurrences of significant new reserves of conventional crude oil have become extremely rare. The focus is now on developing U.S. oil sands deposits, with Utah's Oil Sands as a major potential source of domestic energy.
UTAH OIL ASSET
WHY UTAH?
THE STATE HOLDS OVER 32 BILLION BARRELS OF UNDEVELOPED OIL SANDS RESOURCES.
Unita Basin, Alphalt RidgeOil sands, or tar sands as they are often referred to, are a type of unconventional petroleum deposit. The sands known as "oil-wet" deposits in Utah contain a mixture of sand and a dense, extremely viscous form of petroleum technically referred to as bitumen or tar. There are many other deposits of oil sands throughout the world, most notably in Venezuela and Canada, where they are known as "water-wet" deposits because they're typically found deep in the earth, mixed in with water, sand and clay in a semi-solid natural deposit. Although several of America's western/southern states have oil sands deposits, Utah contains approximately 55% of the nation's total deposits, concentrated in eight major deposit areas with a total resource of over 30 billion barrels of oil. (Source: US DOE).
if wanting to buy shares in petroteq? They are listed on the TSX So you will have to buy from the likes of HL
Listed on HL as PETROTEQ ENERGY INC. (SYMBOL: PQE)
and listed on the OTC Petroteq Energy (PQEFF)
Mate of mine on the CRV board advised me to have a look at this company. Did the usual DD and stuck a few quid in at 0.28. I then added a lot more at 0.32. I did get a bit jittery as they soon dropped to around the 0.2 mark but held on. Love the story here and with a bit of patience could see multiples of current price. Good luck to you all.
some superb information posted below thanks I can see this becoming the start of something very big. Gla
Great work guys.
Superb company this and on the cusp of big things.
Love this video.
https://vimeo.com/341690341
Yeah agree mate. Just waiting on production to start back up and this will be many bags from here.
And I here that’s soon
Patents are good but the fact that Petroteq have already licensed the technology to a big player in the industry gives me great confidence that this will do well over the coming year.
Nice to see you here Fadec :-)
Looking forward to some mega updates from our Mr Sealock
Dr. Vladimir Podlipskiy
Patent no 9/884997
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=1&p=1&f=G&l=50&d=PTXT&S1=Podlipskiy-Vladimir-$.INNM.&OS=In/Podlipskiy-Vladimir-$&RS=IN/Podlipskiy-Vladimir-$
WO/2013/049334
Patents in Major Markets
• Own patents in US, Russia, Canada
• Petroteq has been involved in the patent protection processes since the early days of its technology development
in 2011
• Provisional patents to be filed in 30 countries worldwide with significant oil sands reserves
• Patent protection applications have been filed covering specific aspects of the entire extraction processes and the
physical features of the extraction plants and solvents as follows:
- Solvent combinations and compositions.
- Engineering and design features of specific major components and vessels.
- Specific extraction processes
Production capacity at Asphalt Ridge facility will be incrementally raised through addition of identical process trains
Process trains can be relocated
once location depleted
Familiarity with approvals
processes
Supply chain & marketing
routes established
Environmental requirements
met
Fewer variables in employee
training and operations
Predictable costs & cash flow
modeling
• ‘Plug and play’ process train expansion model provides cost effective route to cash flow growth
• Proprietary technology application deployed and expanded through cost-efficient means
• Minimizes scope of cost-inflating variables including maintenance, supply chain, marketing and employee training
Asphalt Ridge at 1,000 bpd capacity Expansion to 4,000 bpd in 2020 8,000-10,000 bpd est. by early 2022
• Expanding small capacity plant via additional plants and
common feed conveyor system
• Raising $30mm of funding via equity and debt, expected
in place by 2nd half 19
• Engineering due to complete 2Q’19
• Est. EBITDA of $22.0 mm at 4,000 bpd1
• Fully funded, operational 4Q’18
• Peak 2019 capacity of 1,000 bpd
• Trucking production to local refineries
• 1,000 bpd plant is project gateway for additional,
larger capacity plants
Measured growth with proof of commerciality ideally positions Petroteq to capture market share as technology is developed and implemented, and expansion trains are
producing sales product
• Construction of larger capacity plant
• Production increase by 2022
• Achieved though addition of 2x 2,500 bpd process trains
• Phase 3 est. capex of $25 mm / train
• Est. EBITDA of $29.5 mm at 5,000 bpd1
Industry-leading executiveteamwith 175+ years of relevantexperience
David Sealock, Executive Director & CEO - Mr. David Sealock is a highly accomplished, results driven senior executive leader with over 28 years of strategic management and business leadership. He has a
trackrecord of building high-performingteams with astrongfocus on settingcorporatestrategy,executing over$1.2B in equityand debt transactions, jointventuresandM&A deals. Prior to Petroteq Energy,
David Sealockserved as President of Autus Ventures, Vice PresidentTechnology- Petroleum Technology Alliance Canada, President & COO ofSulvaris, President & CEO ofSunshine Oilsands,EVPMegaWest
Energy, & seniormanagement positionswith Deer CreekEnergy, CNRL, Petrovera Resources,Total & Chevron.
Alex Blyumkin,Founder, Chairman -Mr. Alex Blyumkin has over 20 years ofa widerange ofexperiencein theenergyindustry. Afterachievingsignificant success in downstream operations on severalenergy
projects in Azerbaijan, Ukraine and the U.S., herecognized a worldwide need for safe, environmentally-friendly oil sands extraction technology. Alex Blyumkin and his team discovered the origins of what is
now Petroteq’sextraction technology.
Dr. R. Gerald Bailey, President & Director - Dr. R. Gerald Bailey has over 40 years ofexperiencein theinternational petroleum industryin allaspects, both upstream and downstream with specificMiddleEast
skillsand U.S. onshore/offshoresectors. Current Presidentand Director of Petroteq EnergyInc.as wellas itsformer CEO, healso servesan advisor to Petroteq’s Petrobloq.
Mark Korb, CFO-Mr.Mark Korb has over 20 yearsexperience with high growth companies,servingas the CFOorFinancial Consultantacrossseveral industries.
Dr. Vladimir Podlipskiy, Founder & CTO - Dr. Vladimir Podlipskiy has over 20 years of extensive experience as a researcher, involved in oil extraction technologies and research into many remediation
products,all with afocus on the utilization of benign solvents/solutions.
. Crushed ore in
2. Feed bin receives the raw ore and mixes it with solvent
3. The mill breaks down clumps of ore, so that the patented solvent can better
dissolve the crude oil
4. In the mixing vessel, the ore and solvent mixture is agitated into an extraction
separation fluid
5. In the extraction column, solvent makes solids fall and the oil and solvent mixture
rise
6. Clean, salable sand out
7. Fluid is heated to separate the solvent from the oil
8. Secondary extraction column
9. Evaporated solvent is recycled leaving salable oil
10. Salable oil
https://content.equisolve.net/petroteq/media/a9bc1245c1b816150e14fa309f4aa53c.pdf
Value-creation focused company, developing & implementing sustainable technologies in the oil sands mining,
production & remediation sectors. Petroteq represents an attractive, unique, growth opportunity for investors
seekinga position in both theE&P & Clean Energysectors
• Fully integrated, technology-centric, energy company based in Los Angeles, California
• 100% working interest in 2,542 gross acres & 87mmbbl contingent resources in Uintah basin, Utah
• 50% of the operating rights in 8,480 gross acres (4,240 net acres, less royalty) & est. net 41 mmbblcontingent resource in P.R. Springs and the Tar
Sands Triangle, Utah4
• Asphalt Ridge asset located in prime of the play, rich deposits with est. resource life of >20 years
• Implementing proprietary clean oil sands processing & heavy oil extraction technologies
• Technology provides access to a multi-billion dollar global land remediation market
• Phase 1 production capacity of 1,000 bpd, potential for 8,000 to 10,000 bpd in 2022
Clean oil recovery technology (“CORT”)
independently evaluated as scalable, viable & cost effective
• Breakthrough, environmentally-friendly, proprietary oil sands
extraction technology, suitable for all hydrocarbon deposits
• Patented, innovative, 14 stage process uses solvents & surfactants
to liquefy & extract bitumen oil from crushed raw oil sands
• Technology can also be deployed for land remediation projects,
independently or integrated with other processes
• Expected to extract up to 99% of the crude oil and recycles up to
99% of the solvent used
David Sealock, Exec. Dir & CEO - Petroteq Energy
Tel: (403) 561-9882 -- investors@Petroteq.energy
Contact:
C
CLEAN TECHNOLOGY
• Greatly reduces greenhouse gases
• Requires no water, leaves no waste water/slurry
• Demands no high temperatures/pressures
• No waste - leaves clean, dry sands
• Up to 99% of hydrocarbons are extracted
• Up to 99% of used solvents are recycled
? Structuring potential for global deployment
Modular plant economics, combined with energy efficient technology, drive low
capex and production costs
• Low production costs, est. to average $30 to $25/bbl based on
scale of production
• Netback margins anticipated to average between $17 -$25 per
bpd at $50 WTI
• Economics run at EBITDA assumption of $46.80 / bpd WTI,
assumes 350 days operation/train
• Low CAPEX estimates: ~$10k / flowing bpd
• Modular & scalable, from 250-8,000 bpd to 2,500-5,000 bpd
process trains
• Closed-loop, continuous recycle of materials
• Returns over 14x energy used to produce oil, comp. to 2-6x for
competitive technologies
Asphalt Ridge: Expanding a multi-decade asset
• Deposits average 6% - 15% oil by weight, expected resource life >20 years
• Production capacity of 1,000 bpd, product trucked to local State refineries
• Expansion project underway to boost facility output
• Step wise production targets to achieve 8,000 -10,000 bpd by early 2022
• Scalable operations with potential to achieve 25,000 bpd production
Value-creation focused company, developing & implementing sustainable technologies in the oil sands mining,
production & remediation sectors. Petroteq represents an attractive, unique, growth opportunity for investors
seekinga position in both theE&P & Clean Energysectors
• Fully integrated, technology-centric, energy company based in Los Angeles, California
• 100% working interest in 2,542 gross acres & 87mmbbl contingent resources in Uintah basin, Utah
• 50% of the operating rights in 8,480 gross acres (4,240 net acres, less royalty) & est. net 41 mmbblcontingent resource in P.R. Springs and the Tar
Sands Triangle, Utah4
• Asphalt Ridge asset located in prime of the play, rich deposits with est. resource life of >20 years
• Implementing proprietary clean oil sands processing & heavy oil extraction technologies
• Technology provides access to a multi-billion dollar global land remediation market
• Phase 1 production capacity of 1,000 bpd, potential for 8,000 to 10,000 bpd in 2022