The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Petroteq PR machine ramping up to full speed again ;)
Petroteq's extraction process is estimated to have overall processing costs of $25.00-$30.00 STB of crude bitumen generated, delivering a netback of approximately $25.00- $30.00 per STB at $60.00 WTI.
Learn about all our most recent updates: https://petroteq.com
https://twitter.com/PetroteqEnergy/status/1458817354100527117
Market Risers: Rentokil Initial, Rio Tinto, TomCo Energy, Versarien
November 11, 2021
12:23 pm
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The stock price for TomCo Energy found using EPIC: LON:TOM has gained 6.94% or 0.03 points during the course of today’s session so far. Investors have remained optimistic while the stock has been in play. The high for the period has reached 0.65 dipping to 0.6. The volume total for shares traded up to this point was 13,796,262 with the daily average traded share volume around 13,255,154. A 52 week high for the stock is 0.89 which comes in at 0.28 points difference from the previous days close and putting the 52 week low at 0.38 is a variance of 0.23 points. TomCo Energy has a 20 SMA of 0.64 and now the 50 day MA at 0.63. Market capitalisation for the company is £9.36m at the time of this report. The share price is in Great British pence. Mcap is measured in GBP. This article was written with the last trade for TomCo Energy being recorded at Thursday, November 11, 2021 at 11:50:04 AM GMT with the stock price trading at 0.64 GBX.
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https://www.***************************/market-risers-rentokil-initial,-rio-tinto,-tomco-energy,-versarien/4121032845
Breakthrough Green Tech Could Transform The Oil Industry
By Charles Kennedy - Nov 10, 2021, 6:00 PM CST
https://oilprice.com/Energy/Energy-General/Breakthrough-Green-Tech-Could-Transform-The-Oil-Industry.html
1 November 2021
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")
Posting of Annual Report and Financial Statements and Notice of AGM
Quadrise Fuels International plc (AIM: QFI) announces that it has today posted its Annual Report and Financial Statements for the year ended 30 June 2021 together with a Notice of Annual General Meeting ("AGM") to shareholders that have elected to receive documentation in hard copy format. Both documents will be available from the Company's website at www.quadrisefuels.com shortly.
Anyone have any idea what the side project is likely to be worth on its own? Once sites identified, we know drilling, kit and installation are relatively quick and easy compared to other oil extraction methods. This side project will be a nice little earner to fund some of the larger project imho ;)
Unlikely that anyone could make a move on Tomco before Valkor take their 29% stake thus protecting Tomco from any potential takeover move. That insurance policy is going to move us much higher in our own right ;)
Petroteq Responds to Unsolicited Takeover Bid by Viston United Swiss AG
Download as PDFOctober 27, 2021 8:50pm EDT
Petroteq remains committed to maximizing value for all stakeholders and is considering potential opportunities to create value for all shareholders
SHERMAN OAKS, CA / ACCESSWIRE / October 27, 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, today confirmed that 2869889 Ontario Inc., an indirect, wholly-owned subsidiary of Viston United Swiss AG (together, the "Offeror") has commenced a conditional, unsolicited takeover bid (the "Offer") to acquire all of the issued and outstanding common shares of the Company. Petroteq shareholders are advised to take no action in respect of the Offer until Petroteq's Board of Directors (the "Board") has made a formal recommendation to shareholders.
Petroteq cautions its shareholders and potential investors that there can be no certainty that the Offer will be supported by the Board or that any other strategic transaction with any other person will be pursued by Petroteq or ultimately completed. The Board is reviewing the Offer and will make its formal recommendation in response to the Offer as required by applicable securities laws.
Consistent with its fiduciary duties, the Board will evaluate the Offer and Petroteq's options, including continuing to operate the business to drive shareholder value and potentially exploring possible alternative transactions.
The Board continues to believe Petroteq is well positioned to be an industry leader with its one of a kind oil sands extraction technology.
https://ir.petroteq.com/news-presentations/press-releases/detail/403/petroteq-responds-to-unsolicited-takeover-bid-by-viston
Petroteq Energy Inc.
@PetroteqEnergy
Dear shareholders,
As a part of our due diligence process PQE management has requested a production of documents from the third party related to a recently signed NDA.
We will keep you updated on our further developments.
#PQEFF #greenoil
https://twitter.com/PetroteqEnergy
At least they are consistent ;)
Petroteq Energy Inc.
@PetroteqEnergy
Another milestone has been achieved.
An independent third-party valuation of PQE Technology and economics is to construct a 5,000 BPD oil refining facility.
Make sure to follow
@PetroteqEnergy
for more corporate updates.
Usual artistic licence with Petroteq claiming credit for other companies projects. There PR is certainly effective as well as economical with truth.
First time I have seen some figures for the well injection schemes ;)
‘These wells will then be injected with carbon dioxide at high temperatures. This will allow Petroteq to be able to isolate a staggering 700 KG/BBL or 410 KG/MW.
These are incredible numbers and these initiatives. Petroteq’s emission-free extraction methods have definitely set the bar for other oil producers to follow suit. If other corporations in the industry choose to follow suit, there will certainly be forward progress in making a positive impact on the climate.
As always Petroteq are economical with the facts, yes they sold their first commercial license to Greenfield, yes it was for $2 million plus a 5% continuing royalty, we just forgot to expand that it is now a multi license deal in the US ;)
Usual Petroteq press release claiming credit for everything, you get used to it after a while ;) The real news will come from Greenfield in due course.
COVID-19 hit the oil industry hard in 2020, with oil prices collapsing to mid-$20 dollars per barrel.
#PQE has overcome this low point while being able to license its technology to Greenfield for $2,000,000 with a 5% production royalty fee.
https://twitter.com/PetroteqEnergy/status/1450467362273206281
Apologies for split post. You would think Petroteq got this plant up and running by themselves and were the driving force behind the 5000 bopd plant and the future of oil shale production in Utah!
hxxps://www.accesswire.com/668670/Petroteq-Announces-Letter-to-Shareholders-from-R-G-
As shortages of oil propel higher prices, we will aim to expand our production capacity. We are working on the second stage (full engineering drawings) of the design of an even larger plant with expected daily capacity of up to 5,000 barrels per day. The feasibility study (first stage) of the plant design and our CORT process has been verified by an independent third-party engineering group. We have leased more acreage near Vernal, Utah with the view to expanding our bitumen resources, while maintaining agreements to outsource the operations to other entities. Nevertheless, we will keep a small core team of experts to manage the business, without the expense of a large manpower payroll. Additionally, we anticipate further expanding our efforts to license our technology worldwide, which would have the potential result of licensing fees and royalties from production.
Our going forward the plan is to build on our already exhibited success. Subject to successfully raising the necessary capital, we would seek to construct a larger plant; seek domestic and global partners and ventures with licensing agreements; and enhance the management tools and improve our media message to assure that shareholders and capital markets are fully aware of our results and achievements. We have established the viability and efficiency of CORT process, which allows us to move to a higher level of performance and with a goal of delivering the results that our shareholders expect.
I would to thank the many shareholders that have believed in our abilities, and have faithfully stood with us in this journey. Your support is vital to our continued success. Thank you.
R. G. Bailey, Chairman and Interim CEO, Petroteq Energy Inc.
In addition, the Company announces its intention to complete a debt conversion transaction with an arm's ?length service creditor pursuant to ?which the Company will issue 2,010,521 common ?shares of the Company at a deemed price of ?US$0.119 per share in satisfaction of US$239,252. The ?Company (with the creditor's consent) determined to satisfy the indebtedness with common shares in ?order to ??preserve the ?Company's cash for use on its extraction technology in Asphalt Ridge, Utah, and for ?working ?capital.? The debt conversion transaction is subject to approval of the ?directors of the Company and regulatory approval from the TSX Venture Exchange (the "Exchange"). The ?foregoing securities will be issued in reliance on exemptions from the registration requirements of the United ?States Securities Act of 1933, as amended (the "U.S. Securities Act"), and applicable state securities laws, and ?will be issued as "restricted securities" (as defined in Rule 144 under the U.S. Securities Act). In addition, the ?securities issuable will be subject to a Canadian four-month hold ?period.?
About Petroteq Energy Inc.
....
Reader Advisories
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CONTACT INFORMATION
Petroteq Energy Inc.
R. G. Bailey
Interim Chief Executive Officer
T
We have received a FEED (Front End Engineering Design) study for a 5,000 bpd oil extraction plant. This study was prepared by Crosstrails Engineering LLC;
We have received a third-party technical evaluation for a 5,000 bpd oil extraction plant. This evaluation was prepared by engineering firm Kahuna Ventures; and
Barr Engineering, through close collaboration with the Petroteq team, is working on a full set of permits and mining plan for the 5,000 bpd plant.
We believe that our CORT process is unique and stands alone as the most eco-friendly and cost-effective oil sands oil extraction method. It is waterless, and our solvent is recyclable and highly efficient with minimal ecological footprint or emission to land or air. Based on Kahuna Ventures' third-party technical evaluation report, the cost of production of one bb of oil based on our proposed 5,000 bpd plant would be less than $25 which would be highly competitive compared to conventional methods of oil sands extraction. Our initial objective was to prove the economic model and environmental validity of the CORT process, and the initial commercial venture was construction of a 500 bpd plant in Vernal, Utah, to demonstrate the feasibility and economy of scale.
The oil sands typically range in oil content from 1-2% to as much as 18%, depending on geographical location. Our technological and commercial advantages permit the extraction of oil to a level of practically zero hydrocarbons in soil, and the return of the treated, clean sand to the ground. The resulting oil is considered heavy oil with the gravity being below 10-17 degrees API. Refiners are in need of this heavier oil to blend with lighter crudes to allow production of the full range of petroleum products from their units. We have sold oil to these refiners.
I believe that it is extremely important to emphasize the commitment of our entire team to the environment. While the oil and gas industry is typically high in carbon emissions globally, when Petroteq was founded part of our mission was to make the earth greener. Once the ore is washed of oil, the sand has been remediated and it becomes environmentally clean soil; the land that was restricted in use can thereafter be viable for usual activity, and the sand stays or can be moved elsewhere.
The market opportunity for our CORT process is exceptional, with WTI (West Texas Intermediate) currently above $80 per barrel, we believe that there are oil sands around the globe that need our technology and I plan to seek agreements in such locations where we and our partners can deploy this solution. The approach with other groups is to license the technology and to offer joint ventures to assist other entities. We have already achieved an initial license contract.
Petroteq Announces Letter to Shareholders from R. G. Bailey, CEO and Chairman
Tuesday, October 19, 2021 9:00 AM
Topic: Company Update
SHERMAN OAKS, CA / ACCESSWIRE / October 19, 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, issues a letter to shareholders from R. G. Bailey, Interim CEO and Chairman.?
Dear Valued Shareholders,
I have been a Board Member of Petroteq since 2011, and in August 2021 was appointed as the Company's Interim CEO and Chairman to bring my management and engineering experience to enhancing the reputation of the Company and helping with its growth in the energy market. I have a life-long career in the petroleum industry, including 5 years as President of Exxon in the Arabian Gulf region. I have been involved in all aspects of the oil industry, from exploration, development, production and refining. As a chemical engineer, I understand the technical challenges of the industry, while being experienced enough to lead the strong team at Petroteq to develop solutions for the tasks at hand.
My objective is to lead the Company to become a viable competitor in the oil market, utilizing Petroteq's environmentally-friendly Clean Oil Recovery Technology ("CORT") for extracting oil from oil sands. Our mission is to turn locked oil sands into a viable source of high-quality crude oil while mitigating soil contamination. I firmly believe that this is a winning solution for using clean technology to produce energy from oil deposits.
The COVID-19 pandemic has negatively impacted the oil industry worldwide. Nevertheless, during the last two years we have succeeded in advancing our Company in the face of unprecedented economic and operational challenges:
We successfully completed construction of a 500 bpd oil extraction plant;
We sold our first commercial license to Greenfield Energy LLC for $2,000,000 plus a 5% continuing royalty;
Extensive testing of samples of heavy sweet oil produced by Greenfield Energy LLC using our CORT process at Quadrise Fuels International plc's research facility in Essex, England, has confirmed that the samples are amenable for use in the production of a low viscosity oil-in-water emulsified synthetic heavy fuel oil utilizing Quadrise Fuels' MSAR® and bioMSAR™ technologies;
We have analyzed and tested the clean sands produced as a byproduct of the CORT process, and have determined they can be sold as a resource to different industries, including for use as a potential frac sand;
We have received a FEED (Front End Engineering Design) study for a 5,000 bpd oil extraction plant. This study was prepared by Crosstrails Engineering LLC;
We have received a third-party technical evaluation for a 5,000 bpd oil extraction plant. This evaluation was prepared by engineering firm Kahuna Ventures; and
Barr Engineering, through