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The Chief Operating Officer of Petroteq Energy (PQEFF) is Buying Shares
Catie Powers- January 26, 2021, 9:00 PM EDT SHARE ON:
Yesterday, the Chief Operating Officer of Petroteq Energy (PQEFF), George T. Stapleton, bought shares of PQEFF for $60K.
Following this transaction George T. Stapleton’s holding in the company was increased by 222% to a total of $87.01K. This is Stapleton’s first transaction since reporting a Buy transaction on PTRC back in January 2010
https://s3.amazonaws.com/content.stockpr.com/sec/0001062993-21-000639/0001062993-21-000639.pdf
Validation that the plant is commercial - quite likely I’d say. News due anytime.
Yes Petroteq own the land and 100% of the technology- this is a test plant to prove the tech works - a world first process - years in the making - Tomco will then exploit the tech with a 10k bopd plant via Greenfield- on their own acreage at cost of $180M plant - take around 18 months to get going. Petroteq then receives royalties on all sales.
You can sign up for email alert news etc here
https://petroteq.energy/
They are listed on TMX Canada and OTC USA- you can follow their share price on their website as above.
Yep it’s quite extraordinary - following the recently announced testing results that sand in the ground at Asphalt Ridge is very valuable indeed - fracking sand (70%) and cement quality (30%) and as a by product. Oil is secondary frankly. Excellent.
Plant starts tomorrow- watch out for the off take agreements.
Petroteq RNS 22/12/2020:
George Stapleton, Petroteq COO, commented: "While we had hoped to restart the POSP last week, we should now be able to operate more or less continuously following the restart, without any planned Holiday shutdowns ahead of us. The test results obtained for the sand tailings are a welcome outcome. Any revenue received from the sale of frac sand and/or aggregate is expected to assist us in lowering the operating costs for the POSP, thereby providing higher than expected netbacks per barrel of oil produced."
https://ir.petroteq.energy/press-releases/detail/369/petroteq-energy-announces-that-testing-of-the-sand-tailings
Glib - re extra funds comment - the CEO said in his various presentations that if they announce a discovery the funds to set up the plant etc (approx $50M) will not come from a placing - he said the asset value will be more than adequate to support debt finance, so bank borrowing rather than a placing.
MrNation, "good authority", really? Who then?
30 seconds on basic research will tell you that you made that up (look at last RNS)
"Fully funded for exploration programme commencing in Q1/Q2 2021 consisting of infill seismic acquisition and three well drilling programme targeting high priority Prospects over the Rukwa Project"
HELIUM ONE SHARES SURGE 51.3% AS INVESTORS SPY MAJOR OPPORTUNITY
https://www.asktraders.com/analysis/helium-one-shares-surge-51-3-as-investors-spy-major-opportunity/
Indeed - going to good fun and rewarding to watch this unfold : )
Another important reason why retail interest will be significant : )
"Helium One is the only company listed on AIM that provides investors exposure to helium - a scarce and irreplaceable commodity which is essential for many modern technologies. We look forward to updating our new and existing shareholders as we progress this programme."
who knows where we will be tomorrow but in theory (without getting carried away) Helium One could quite easily achieve a market cap of £50M - this will be achieved with a share price of around 11p. So 6p thereabouts will be the opening price tomorrow, so very achievable. Let's see.
£50M market cap is important, why, because many institutions/funds have a bench mark mandate/rule that below that market cap level they simply will not invest. So potentially Helium 1 may attract another set of desirable investors (ie long term rather than short term traders).
We know from the various presentations that the placing was oversubscribed by approx £2M , so on the basis that those who tried to get in at the placing and who didn't succeed will put be lining up tomorrow morning. Going to fun! I expect a lot of press comment around this IPO.
Good luck all longs and new shareholders.
do some research - I'll give you a clue, the licences have been already been granted (and renewed) and the Tanzanian Government are entitled to payment. Hardly rocket science.
Looking forward to the opening dealings - going to be fun! There was several million £ of oversubscribed monies waiting to enter. Good luck all longs and newcomers.
....the market can see that there is still plenty of time to get in before the the plant is declared commercial by the independent assessment, which will not, per the RNS, happen till January, with the possibility of not hearing until February.
That will be the eureka moment for all companies involved, but in particular Petroteq who are expecting more licensing deals on the back of independent verification of their technology. A world first and proven. Fingers crossed!
So until then traders will be in and out accordingly, that's AIM!
I am not in here but hold a good chunk of Petroteq. That is where I see the really large returns.
Timeline: for me the big news for the confirmed commercialisation of the plant will be probably be February, when the results of the independent tests are known "The third-party engineering analysis of the Oil Sands Technology is expected to commence in the first week of January 2021, alongside the continuation of the FEED study. The FEED is expected to be completed by the end of February 2021."
Although in the RNS they do not state a date categorically when the third party verification process will be complete - maybe some wiggle room.