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No news is imminent. Next news is likely to be in 2022.
Definitely an interesting day.... We got our first small rise after such a long time..... Why?.... Is it because we are at super rock bottom prices and at these prices some see value.... We got some nice buys..... Is there news inbound....the Edison piece said they would not present forecasts? Are forecasts inbound and what are they linked to?... Utah....Pqe.....Morroco...?????? ..... Or is this just a dead cat bounce?.....
Not sure, as usual for me with Petroteq!, what the implications are of this announcement - perhaps others more
knowledgeable than I am could comment ?
SHERMAN OAKS, CA / ACCESSWIRE / December 1, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") ??(TSXV:PQE)(?OTC PINK:PQEFF)(FSE:PQCF), an oil ?company focused on the development and implementation of its proprietary oil-?extraction and remediation technologies, is pleased to announce the signing of a technology license agreement for the use ?of its proprietary oil sands extraction ?technology.?
The Company has entered into a non-exclusive, non-transferable technology ?licensing agreement dated for reference October 27, 2021 (the "Agreement") ?with Big Sky Resources LLC ("Big Sky"), a company based in Rye, New York. The ?Agreement grants to Big Sky the right to use Petroteq's proprietary patented ?technology to design, construct, operate and finance oil sands extraction plants ?for up to two locations in the continental United States. Under the Agreement, ?Big Sky has agreed to pay Petroteq a one-time, non-refundable license fee of ?US$2 million, which will become payable upon the commencement by Big Sky of construction of its first ?plant. The Agreement further provides that Big Sky will pay Petroteq a five ?percent (5%) royalty on the net revenue received by Big Sky from the ?production, sale or other disposition of licensed product from the plants, for ?so long as Petroteq continues to hold enforceable and protected intellectual ?property rights in the licensed technology in the United States.?
Pursuant to the Agreement, Big Sky is obligated to engage Valkor LLC (or an affiliate named by Valkor) as ?the sole and exclusive provider of engineering, planning, and construction ?services for all oil sands plants built by or under the direction or on behalf of ?Big Sky. Big Sky has indicated it will work closely with Valkor to identify ?plant locations in the State of Utah. ?
Dr. Gerald Bailey, Petroteq CEO, commented, "If Big Sky successfully ?advances its plans to develop, build and operate up to two oil sands plants ?utilizing our technology, the Company would have a potential long-term ?revenue stream through a royalty. I believe that our technology offers an eco-friendly means ?of oil production. This is a sound environmental approach to be a green energy ?solution for extracting the oil from the soil. Our ability to license this ?technology provides us with the opportunity to potentially realize non-?disruptive sources of income for the Company, while giving licensees like Big ?Sky the ability to develop attractive oil sources for the benefit of the ?communities being served".?