Member Info for orslega

volume very low today - most (sensible ones) sitting on hands...or topping up, imo

https://www.oilandgas360.com/petroteq-energy-inc-tsx-v-pqe-otcqx-pqeff-on-the-cusp-of-commercial-production/

ontarget - your theories are all incorrect. If you read the Prospectus you'll get it - it's not rocket science!

You can't change what is in the Prospectus - if you think about you'll see why.

ontarget "�90k invested at 0.85p is .... 10.6m shares. No amount of subsequent dilution affects the fact that Mayan bought 10.6m shares at this point, which at the listing price of 4p are worth... �424k" much has changed - think it through, read the Propsectus - Mayan do not now own 10.6M shares in Block.

but ontarget how many shares are then in issue AFTER the placing - all shareholders percentage of the company has to go down reflecting the new subscription i.e. �4M raised. The link to Prospectus tells us clearly how many shares Mayan have at the IPO on Monday. Yes? The past is the past, Block has re-organised their share cap, clearly they had to in the �4.5M raise So 8.5M shares at 4p starting price is the conversion of �90K equity and �210 Convertible Loan Note, in total. To highlight the dilution point the �90K pre �4M raise was around 3% - now post IPO and �4M raise, Mayan �300K investment is circa 3% of Block.

so the �210K loan has been converted in arriving at 8.5M Block shares owned by Maya at IPO. Glad we sorted that out, lol

Have a look at the Prospectus - page 308 xviii. Convertible Loan Note Instrument (��CLN��) (June 2017) On 27 June 2017 the Company adopted a convertible loan note instrument. Notes issued under the CLN (��Notes��) accrue interest at a rate of 10% per annum. If conversion of the Notes occurs prior to the date 12 calendar months after issue of the Notes, the interest accrued to that date shall be paid by the Company to the holder of the Notes. The nominal amount of each Note is �1 and may be issued up to an aggregate of �210,000. Any shares issued on conversion of the Notes shall be subject to such lock in provisions as are strictly required by NEX or AIM, as the case may be on a Qualifying IPO (defined below). The Notes may not be assigned without the express written consent of the Company. If the Notes have not been converted, the Notes shall be redeemable on the earlier of (i) the 2nd anniversary of the CLN and (ii) the date falling 14 days after written request for redemption has been submitted to the Company by the holder of the Notes (such request not being issuable prior to the 1st anniversary of the CLN). The Notes shall also be redeemable in an event of default, being standard insolvency events; The Notes shall be convertible as follows:- (a) At any time following the 1st anniversary of the CLN, a holder of the Notes shall be entitled to have all or part of the Notes converted into ordinary shares in the capital of the Company, provided that if such notice is given prior to a Qualifying IPO (defined below), the Company may redeem the Notes in cash, rather than by issued shares; (b) Upon a Qualifying IPO, the Notes will be automatically redeemed by the Company issuing ordinary shares in the Company equal to the value of the amounts outstanding under the CLN (such value to be at the conversion price set out below); (c) Whilst the Company�s shares are admitted to NEX, the Company may convert the Notes into ordinary shares in the capital of the Company. The conversion price for the Notes shall be:- (i) If the Company is admitted to a recognised investment exchange (including AIM, but not NEX) (a ��Qualifying IPO��) within 12 months of the date of the CLN, the conversion price shall be the share price at the time of the admission (but subject to a 10% discount); (ii) If no Qualifying IPO occurs within 12 months of the date of the CLN or the Notes are converted pursuant to (c) above, the conversion price shall be the 10 day volume weighted average price of the shares of the Company immediately prior to conversion (but subject to a 10% discount); As at the date of this Report �210,000 of Notes has been subscribed for by Mayan Energy Ltd. The Company shall not be entitled to dispose of any of its interests acquired in oil and gas licences in Georgia without the consent of the holders of 75% of the Notes; http://www.bloc

I think you'll find Mayan were diluted by the �4M planned raise. Whether it is shares are % there has to be dilution. Yes?

onrtarget - they look correct but not obvious - Block Energy share cap was re--organised - the 8.5M shares owned by Mayan will probably be the total �300K i.e. loan converted (although they did own 90,000 Block before which represented just under 3% - but obviously there is dilution with the raise) http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/13646653.html

well worth a listen - he's saying that they have the capacity to produce 10,000 bopd for next 25-30 years. Huge resource. Also talks about the use of the technology worldwide : )

8,000 barrels by 2020! ___________________________________________________________________________________ Petroteq Energy CEO David Sealock Interview tells Proactive Investors the integrated oil and gas company is facing strong growth as it continues to develop and implement proprietary technologies for the energy industry. According to Sealock, the environmentally safe and sustainable technology can be used for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Sealock says the proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Sealock says the company is currently fully funded, with a recent raise of $2.5mln in February and $3mln last month. http://www.proactiveinvestors.com/companies/stocktube/9517/petroteq-energy-ceo-sees-very-aggressive-growth-pattern-in-next-four-years-9517.html

Looks like the �210K is an automatic conversion : )

27/6/2017 RNS Investment of �300,000 in Block Energy structured as follows: o �90,000 equity investment via a placing of new shares at �0.0085 per Block Energy Share which will result in Mayan acquiring a 2.47% equity interest in Block Energy o �210,000 via a Secured Convertible Loan Note. 10% flat coupon with conversion to equity at a 10% discount to any price at which Block Energy's shares are listed or admitted to trading on any stock exchange other than NEX. ********************************************************************************* So Eddie will have options - he can elect to recover some of the �210K loan or (and more likely) convert that loan into Block equity at 10% discount to the market. �21K for nothing.

Yes this is to be expected - Petroteq are days away now to announcing sustained production of at least 1,000 barrels a day. What will PQE share price be then? Substantially higher absolutely no doubt about that. Mayan have over 1m shares paid shares up in PQE via Deloro - the value of this investment has yet to reflect in our share price. It will very soon imo given the likely substantial rise expected in PQE share price. (Eddie did note in the RNS dealing with the rearrangement of the deal that Align have a current target of US $3.8 for PQE.) There is a 4 month lock in on these 1M shares but that isn't an issue as hopefully PQE will seriously re-rate in that period. Mayan should also re-rate as not only PQE pumping away in the background but in these timescales Forest Hill, Stockdale and Zinc Ranch will all be adding to production. Expecting that near term 500 bopd target to get smashed as production ramps up. The Stockdale gas discovery could easily be a company maker in its own right. This coming week - deadline 13/6 - Mayan needs to find the money to partake in the PQE deal sweetener - that's the 17.3% of the 4M PQE pot at $0.90 - it will be a no brainier - no doubt Eddie is organising this as we speak- the existing PQE investment will provide the collateral for this. Plus Block Energy listing this coming Monday - what will Mayans �300K investment be worth then? Align suggest 2.1p for Mayan - but this was back in November - a lot of very good things have happened since then but the share price has done little. Imo that is about to change. God luck all it's going to be fun times very soon imo

�We are pleased with the new Report from Chapman as this is an accretive transaction benefiting our shareholders. We look forward to applying our patented mining extraction technology process to this additional resource. This acquisition is highly valuable to us as it increases our operating footprint in Asphalt Ridge, giving us more mineable resources but also giving us more flexibility in how we mine the acreage we already have.� Confidence I'd say in the technology : ) Tick tock....any day now..

yes good to see David Kahn currently has over 7% of the company - he is instrumental to the next stage roll out of low cost wells at various sites. Although he got diluted he must be pretty pleased that he has more than doubled the value of his substantial investment since 8/8/2017. He invested �250,000 (at 0.30p) in Mayan shares. Money where mouth is. From RNS 8/8/2017: David Kahn, a financial investor and key operational partner for Mayan who will acquire a 12.1% stake in the Company, by subscribing to 83,333,333 Ordinary Shares. David Kahn have subscribed for shares at the Placing Price.

like a 500,000 seller still dabbling........irritating. Patience.

Now open - we are blue, lol Hope that's not a glitch, lol

No - London Stock exchange is closed - computer glitch per Radio 4