Member Info for manu19

Brilliantly phrased Wodewick - much better than my deleted post that tried to express similar sentiments ! The insightful and knowledgeable exchange between Salinger and PharoahRocher was high class and
we want and need them both with us on THIS forum -

best wishes

pity the amateurism that had Jason covering up the BioMsar motif

https://youtu.be/tRqpbNw_qtM

Petroteq Receives Confirmation of Proof of Funds From Bidder
Download as PDFAugust 31, 2021 9:00am EDT
SHERMAN OAKS, CA / ACCESSWIRE / August 31, 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, announced today that the Company has received proof of funds from the undisclosed bidder who was previously disclosed as being a client of Uppgard Konsult AB. The confirmation was provided by the bidder indirectly through their Canadian legal counsel, Gowling WLG (Canada) LLP.

The confirmation consisted of a swift message from The Royal Bank of Scotland, containing a swift confirmation in the amount of €120.000.000. The Company had requested confirmation of proof of funds as a condition to negotiating and executing a non-disclosure agreement with the bidder so the bidders identity could be disclosed to the Company and the parties could discuss a potential transaction.

Neither Uppgard Konsult AB nor the offerer has made any filings in relation to the offer under the ?Securities Exchange Act of 1934, as amended, or under applicable Canadian securities legislation.?

Shareholders are encouraged to do their own due diligence prior to taking any action.?

There can be no assurance that any transaction with the bidder will be completed as proposed or at all. Completion of any transaction will be ?subject to applicable director, shareholder and regulatory approvals.?

I would have thought only Tomco would release the results RNS as QFI is the client. As Tomco came on a visit for the test some weeks ago to show their interest , surely would not have come over to see failure! If the test failed then as it is a price sensitive issue IMO an RNS would have had to be published.

If did not open here it is!
August 13, 2021 9:01am EDT
SHERMAN OAKS, CA / ACCESSWIRE / August 13, 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, announced today that, contrary to management's prior expectations outlined in Petroteq's press release of August 9, 2021, it will not be able to complete the intended restatements of the Company's financial statements by August 13, 2021. The filing process has already begun, but due to the nature of said process, it is not expected to be finished until August 19. The Cease Trade Order ("CTO") issued by the Ontario Securities Commission (the "OSC") and the TSX Venture Exchange, as a result of Petroteq's failure to file its quarterly report on Form 10-Q (and related certifications) for the period ended May 31, 2021 (the "Quarterly Report") on or before July 30, 2021, as required, remains in effect.

Based on the final opinion of special legal counsel engaged by the Company to review the matter, the Company intends to classify the liability represented by the secured promissory note issued to Redline Capital Management S.A. on December 27, 2018, in the principal amount of $6,000,000, as a contingent liability, with no provision required against these potential claims.

Management expects that the CTO will be automatically lifted once the restated financial statements are filed, and Petroteq's outstanding Quarterly Report is filed.

The Company continues to operate normally and is working diligently with its auditors, Hay & Watson, to be in a position to file restated financial statements and the Quarterly Report as soon as practicable.

Dr. R.G. Bailey, Chief Executive Officer, commented, "The diligent work of the CFO and our auditor is expected to rectify this matter to the benefit of the Company and the shareholders".

Looks as though there will be no problem - just a delay in sorting it out ( this probably the reason previous chairman left)

https://ir.petroteq.com/news-presentati ... ent-update

no tea from mummy pig - for telling porkies she has told farmer to turn you into a bacon sandwich - chop chop

Testing of Samples Delivered to Quadrise Fuels International Is Now Underway

SHERMAN OAKS, CA / ACCESSWIRE / August 12, 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 ?technologies, is pleased to announce that the continued testing in the Company's Asphalt Ridge extraction plant (the "POSP") of ore from various sources in the region, with varying oil quality in the range of 5 to 10 weight percent, has been successful and confirms that the POSP can handle such variations of ore source. As a result of this demonstrated flexibility in handling feedstock, Petroteq was able to produce a load of oil from this multi-sourced ore, which was sold on August 6. The buyer loaded 236 barrels of 16.9° API (American Petroleum Institute) crude with a BS&W (Basic Sediment and Water) of 0.20%. It was previously announced that the Company completed the Front End Engineering and Design (FEED) study for a 5,000 barrel per day plant, and the validity of that design has been verified by a third party engineering firm. Such positive affirmations of the technology and the plant performance should assure our stakeholders, suppliers and potential business partners that the design can handle a wide range of ore specifications.

In addition, several barrels of produced oil from the POSP have now been received by Quadrise Fuels International plc in the United Kingdom, for the purpose of assessing the suitability of the heavy sweet oil produced by the POSP for their MSAR® technology. Testing of the samples is expected to be completed by the end of August 2021.

Dr. R.G. Bailey, CEO, commented, "The Company continues to produce extracted oil to validate the feasibility of our technology, enhanced by demonstrated plant production that shows the design can cover a wide range of ore quality, to give our stakeholders, suppliers and potential business partners more confidence in our capability, while we are also actively seeking to deploy the technology to a global market".

About Petroteq Energy Inc.?
Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits - outputting high-quality oil and clean sand.

Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean re

Cease Trade Order Issued by the Ontario Securities Commission
Download as PDFAugust 09, 2021 9:00am EDT
SHERMAN OAKS, CA / ACCESSWIRE / August 9, 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, announced today that, in lieu of the management ?cease trade order that the Company had applied for, it has been issued a Cease Trade Order ("CTO") by the Ontario Securities Commission as a result of its failure to file its quarterly report on Form 10-Q (and related certifications) for the period ended May 31, 2021 on or before July 30, 2021, as required under Canadian National Instrument 51-102 - Continuous Disclosure Obligations, as previously disclosed.

Reference is made to the Company's news release dated July 16, 2021 and its current report on Form 8-K filed with the United States Securities and Exchange Commission on July 16, 2021. We currently believe that the liability represented by the secured promissory note issued to Redline Capital Management S.A. on December 27, 2018, in the principal amount of US$6,000,000, should be classified as a contingent liability based on legal counsel's preliminary assessment that the note is not valid and is unenforceable. We have instructed legal counsel to prepare a formal legal opinion upon which we will rely to make our final determination in this regard.

The Company intends to file restatements of its Periodic Financial Statements (as defined in the Company's news release and Form 8-K of July 16, 2021), and to amend and restate other disclosure in the affected periodic reports as appropriate. Once the Periodic Financial Statements are refiled, and its quarterly report on Form 10-Q (and related certifications) for the period ended May 31, 2021 is filed, the CTO should automatically be lifted. Investors who hold restricted securities of the Company are reminded that the resale safe harbor provided by Rule 144 under the United States Securities Act of 1933, as amended, remains unavailable while the Form 10-Q remains outstanding.

The Company continues to operate normally and is working diligently with the auditors, Hay & Watson, to be in a position to file its Documents as soon as practicable. As it was previously announced, the Company intends to file updated financial statements on or before August 13, 2021.

Dr. R.G. Bailey, Chief Executive Officer, commented, "I have been with the Company for many years and throughout my vast experience in the industry, I have seen bumps on the road to success with small companies. I believe that our Company will overcome this event and we will continuously strive to deploy our proprietary eco-friendly technology while doing utmost to enhance our shareholders value".

Petroteq Announces Management Changes
Download as PDFAugust 06, 2021 4:01pm EDT
SHERMAN OAKS, CA / ACCESSWIRE / August 6, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") ??(TSXV:PQE) ?(OTC:PQEFF) (FSE:PQCF), an oil ?company focused on the development and implementation of its proprietary oil-?extraction and remediation technologies, announces the resignation of Mr. Alex Blyumkin as an officer and director of the Company. The board of directors of the Company has appointed R G Bailey, current director and former Chief Executive Officer of the Company, as the Interim Chief Executive Officer, and Mr. Vladimir Podlipsky, current Chief Technology Officer of the Company, has been appointed as a director of the Company.

Mr. Blyumkin is the Founder of Petroteq. It was his vision that led the Company to bring the extracted oil to market. Mr. Blyumkin stated, "I have given my time and energy over 10 years to see the Company become on the cusp of commercial success. Now I want to move away from the daily obligations of running the business and focus more on my family. I continue to believe and support Petroteq and am confident the new leadership can accomplish my goals and spread the word to others of the advantages of the technology and how Petroteq developed a true green oil company. There comes a time when one should turn the daily effort over to other experienced team members, and those at Petroteq can take it into its second decade to even more achievements and growth".

Dr. Bailey commented, "I am honored to accept this appointment, as I have been on this journey with Alex, Petroteq and many shareholders for over nine years, from the startup through building the first plant in Vernal, Utah. Petroteq has a good record of development, through some tough economic times, and is poised to move forward with continued emphasis in deploying its eco-friendly, waterless extraction technology in not only larger scale production operations, but also in oily sand remediation efforts on a global scale. I trust my executive experience in the oil industry will enhance this effort. I thank our shareholders and the directors for their support during our growth years and for their continued support as we grow even stronger."

seems as though there may be different opinions on the way forward.
Petroteq Energy Inc.
Petroteq Energy Inc. has just released the following news:

Petroteq Announces Management Changes
Click here to read the full article

If you have any questions, or would like to contact Investor Relations, please reply to this email.

Petroteq Energy Inc.
Suite 6000, 1 First Canadian Place, PO Box 367, 100 King St W, Toronto, Ontario M5X 1E2 Canada

The problem, Hotfinance, is the "QFI said..." - who believes any timetable from MK

Commercialization of Petroteq's Technology Has Been Verified by Reputable Third-Party Engineering Firm

https://ir.petroteq.com/news-presentati ... y-has-been

waiting for Godot

IMO if a product such as MSAR/BioMsar "works" that is all the PR needed - If we get a trial with MSC and a result that's all the "PR" needed .

Thanks to ForFoxsSake - The ForumMy response from IR today...

Thank you for your email.

At this stage our discussions are focused directly with MSC. We will, however, be looking at opportunities with refiners and terminal owners/operators for the production of fuel for the trial and - on the assumption that these trials progress as planned - supply of commercial MSAR and bioMSAR.

As we have indicated in previous communications, the large shipping operators such as MSC are looking at multiple future fuel opportunities and we regard the announcement of the agreement with RDS as neutral to positive for Quadrise.

Kind regards

QFI IR

Thanks to Lobsterman - The Forum
Email reply from IR today

We are still awaiting confirmation of the shipping of the samples from Utah. Once we have conformation from our shipping agent we will provide and update.

As previously stated, once they arrive at QRF, we would expect testing to take around 2-3 weeks to complete. Assuming that the results are satisfactory, we would then seek to have a discussion with Greenfield regarding the provision of a license and whether there is still a requirement to undertake a production test on-site.

We will be providing an update on the recent engine tests at VTT in due course - though we cannot give a firm timetable for this - as our focus is on our discussions with MSC and the engine OEMS at this time.

We have not manufactured the fuel as yet and will ;provide an update in due course.

So Samples Haven't left and MMU deployment not known

Update from VTT, tests appear conclusive as our focus is on our discussions with MSC and the engine OEMS at this time.

Fuel for Morocco still awaiting manufacture

Positive from MSC point of view, negative on other 2 projects

Indigo2015 - confirmation of your post

QFI update on Maersk 7 April 2017.

" Maersk has reaffirmed that the MSAR® trial has been successful to date and it will continue to work with Wärtsilä to ensure that a detailed interim inspection report is prepared following the recent inspection and that following this an "Interim LONO" will be issued -  which is expected to confirm that Marine MSAR® fuel is safe and suitable for Wärtsilä 2-stroke engines."

Extract from Tapa talk:

Robby090 wrote: ?6:17 PM - Today
I also had an IR response today re Utah;

“Now that sales quality oil has been produced at POSP, we are expecting to receive samples at QRF for further testing imminently. This needs to be completed prior to sending equipment to Utah for site trials.”