Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Petroteq ("PQE") is listed on TSX exchange in Canada and OTC in the USA.
https://money.tmx.com/en/quote/PQE
I use Hargreaves Lansdown here in the UK to buy. Very straightforward.
that vimeo link doesn't work, this one does:
https://www.youtube.com/watch?v=5nwywpYEEu0
For those interested watch the video - very informative:
“Follow the Molecule” provides a unique opportunity for shareholders and analysts to view the revolutionary, environmentally friendly process that the Company has implemented to exploit its total gross contingent resource of in excess of 130 million barrels of surface oil sands heavy oil in place, based on the Chapman Petroleum Engineering, Ltd. resource reports for Asphalt Ridge and PR Springs and Tar Sands Triangle, dated August 8, 2018 and December 31, 2018, respectively. Such contingencies are stated below. The Chapman reports were prepared in accordance with the National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and is compliant with the internationally accepted Petroleum Resource Management System (PRMS) standard and the Canadian Oil and Gas Evaluation Handbook (COGEH).
The video details the transformation of highly oil saturated feed ore recovered from the mining operation to heavy crude oil in the sales tank through a combination of video and animated process diagrams to provide an understanding of the Company’s proprietary processes."
https://Vimeo.com/341690341
minimil - take a look at this link, it explains - re temp - much lower in Petroteq process/tech
https://petroteq.energy/technology/oil-sands-extraction
"It extracts up to 99% of all hydrocarbon contents and recycles up to 95% of the solvents. The proprietary solvent composition consists of hydrophobic, hydrophilic and polycyclic hydrocarbons. In testing periods, these solvents separated up to 99% of heavy bitumen/asphalt and other lighter hydrocarbons from the oil sands while preventing their precipitation during the extraction process. Solvents used in this composition form an azeotropic mixture which has a low boiling point of 70-75 C degrees. Petroteq expects to recycle over 95% of the solvents used. These features make it possible for hydrocarbon extraction from oil sands feedstock at mild temperatures of 50-60 C degrees... with no vacuum or pressure applied.
There's no need for tailings ponds because the only elements that leave the closed-loop system are the extracted crude oil and the cleaned sands, which can be used for site reclamation or sold as clean sand for use as a concrete aggregate"
https://s3.amazonaws.com/content.stockpr.com/sec/0001062993-21-003949/0001062993-21-003949.pdf
Another top up for Petroteq Founder and Chairman
https://ir.petroteq.energy/press-releases/detail/373
See this as a positive for the likely success of the technology.
Lenders happy to take shares aswell another good sign. Dilution yes but it was a large loan now removed as a liability.
Valkor have been busy with other oilsand interests
https://keyfactsenergy.com/news/6799/view/
Yes - Suncor will do very nicely - a few billion $ is literally a drop in the ocean for them. Petroteq technology will answer all their critics. There are many at all levels.
Yes I have seen the Canadians are watching very closely on Petroteq developments - hope no one launches a bid too early......
Think about it - the only thing missing for Valkor is ownership of the intellectual property.
They hold a good deal of Utah oilsands, they are the engineering outfit that designed the plant, but they do not own the IP.
As the Petroteq technology is confirmed commercial Valkor (as well as others including Greenfield) will be paying large production royalties (and upfront licence fees currently $2M per plant for all newcomers) - so getting the IP will be the smart extra move. If not Valkor it will a large multi O&G player all of whom are looking for environmentally friendly projects exactly like this.
Not if but when.
Very interesting indeed. But not purchased by Greenfield JV?
per link this land grab by valkor was back in January per that link -Steven Byle must have known then that the technology works - you don’t spend $650K as a punt - so that means they plan either develop themselves - unlikely or more likely grant sub licenses to others at a huge premium - when the Petroteq technology is confirmed as commercial all the surrounding Utah acreage value rockets. Then valkor get the engineering plant installation etc win win
Yes think link has been doing the rounds. This is all to do with the financial bond/surety. Note they confirm that the ore being used is from a third party site (the one Greenfield are still assessing).
The most interesting point is that Petroteq are planning to sell the sand.
Note also that the letter is dated 30/3/2020 - that is a typo - it should be 30/3/2021.
Yep, one of the key attributes of the Petroteq plant will be to produce a range of heavy oils but with very low sulphur - to meet different end user requirements - eg road paving, they have track history:
"The Company has received a payment of $96,500 from the State of Utah ?County Roads Department for delivery of heavy unrefined oil to be used in their road ?paving operations. In addition, the Plant has received an additional purchase order for ?a further $250,000 of the same product from the same state agency."
https://petroteq.energy/news/press-releases/detail/344/petroteq-reaches-new-production-milestone-of-300-bblsday
https://polaris.brighterir.com/public/quadrise/news/rns/story/xq6ndqr
It is expected that the enhanced POSP will restart after Easter, and that oil samples extracted from ore of the Potential Site will then be taken, assayed, and then shipped in April to the UK, to enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility ("QRF") as planned. As previously noted, we anticipate being able to complete the MSAR® tests at QRF within three weeks of samples being received.